Bruker (BRKR) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Securities Act File Number	000-30833
Entity Registrant Name	BRUKER CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3110160
Entity Address, Address Line One	40 Manning Road
Entity Address, City or Town	Billerica
Entity Address, Postal Zip Code	01821
Entity Address, State or Province	MA
City Area Code	978
Local Phone Number	663-3660
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	BRKR
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		151,394,441
Entity Central Index Key	0001109354
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 169.7	$ 488.3
Accounts receivable, net	507.2	492
Inventories	1,175.9	968.3
Other current assets	300.2	215.6
Total current assets	2,153	2,164.2
Property, plant and equipment, net	656.6	599.7
Goodwill	1,443.8	582.6
Intangible assets, net	1,024.3	330.5
Operating lease assets	136.2	91.7
Deferred tax assets	303.2	297.2
Other long-term assets	185.5	184
Total assets	5,902.6	4,249.9
Current liabilities:
Current portion of long-term debt	26.4	121.2
Accounts payable	220.3	202.7
Deferred revenue and customer advances	501.9	400
Other current liabilities	555.9	478.2
Total current liabilities	1,304.5	1,202.1
Long-term debt	2,132	1,160.3
Long-term deferred revenue and customer advances	93.9	91.5
Deferred tax liabilities	178.5	67.7
Operating lease liabilities	111.3	74.8
Accrued pension	79.6	76.6
Other long-term liabilities	178.3	163.6
Total liabilities	4,078.1	2,836.6
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests	17.5	18.7
Shareholders' equity:
Preferred stock, $0.01 par value 5,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value 260,000,000 shares authorized, 182,170,700 and 175,943,705 shares issued and 151,391,821 and 145,164,826 shares outstanding at June 30, 2024 and December 31, 2023, respectively	1.8	1.7
Treasury stock, at cost, 30,778,879 shares at June 30, 2024, and December 31, 2023, respectively	(1,237.2)	(1,237.2)
Additional paid-in capital	701.3	282.9
Retained earnings	2,367.3	2,323.8
Accumulated other comprehensive (loss) income, net of tax	(44)	6
Total shareholders' equity attributable to Bruker Corporation	1,789.2	1,377.2
Noncontrolling interests in consolidated subsidiaries	17.8	17.4
Total shareholders' equity	1,807	1,394.6
Total liabilities, redeemable noncontrolling interests and shareholders' equity	$ 5,902.6	$ 4,249.9

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	260,000,000	260,000,000
Common stock, shares issued	182,170,700	175,943,705
Common stock, shares outstanding	151,391,821	145,164,826
Treasury stock, shares	30,778,879	30,778,879

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenue	$ 800.7	$ 681.9	$ 1,522.4	$ 1,367.2
Total cost of revenue	416.1	341.4	785	667
Gross profit	384.6	340.5	737.4	700.2
Operating expenses:
Selling, general and administrative	221.3	177.9	416.6	340.6
Research and development	92.2	71	174	140
Other charges, net	23	5.4	33.9	10.7
Total operating expenses	336.5	254.3	624.5	491.3
Operating income	48.1	86.2	112.9	208.9
Interest and other income (expense), net	(24.2)	(8.7)	(17.4)	(24.8)
Income before income taxes, equity in income of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries	23.9	77.5	95.5	184.1
Income tax provision	16.1	19.9	35.9	49.8
Equity in income (losses) of unconsolidated investees, net of tax	(0.2)	0.2	0	0.9
Net income	7.6	57.8	59.6	135.2
Net income attributable to noncontrolling interests in consolidated subsidiaries	0	0.7	1.1	1.6
Net income attributable to Bruker Corporation	$ 7.6	$ 57.1	$ 58.5	$ 133.6
Net income per common share attributable to Bruker Corporation shareholders:
Basic	$ 0.05	$ 0.39	$ 0.4	$ 0.91
Diluted	$ 0.05	$ 0.39	$ 0.4	$ 0.91
Weighted average common shares outstanding:
Basic	147.4	146.8	146.3	146.8
Diluted	148	147.7	147	147.6
Product
Total revenue	$ 654.4	$ 559.6	$ 1,241.3	$ 1,126.7
Total cost of revenue	326	272.8	617.7	530
Other
Total revenue	146.3	122.3	281.1	240.5
Total cost of revenue	$ 90.1	$ 68.6	$ 167.3	$ 137

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7.6	$ 57.8	$ 59.6	$ 135.2
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of tax expense (benefit) of $0.0, $2.1, $2.2, and $0.7, respectively	(28.9)	10.3	(106.1)	36.1
Derivatives designated as hedging instruments net of tax expense (benefit) of $2.3, $5.0, ($16.8), and $8.3, respectively	(7.5)	(15.9)	54.6	(26.6)
Pension and other postretirement benefit liability adjustments net of tax expense of ($0.0), $0.2, $0.0, and $0.6, respectively	(0.1)	0.7	0.5	0.8
Total other comprehensive (loss) income	(36.5)	(4.9)	(51)	10.3
Total Comprehensive income (loss)	(28.9)	52.9	8.6	145.5
Less: Comprehensive income attributable to noncontrolling interests	0.2	1.3	1.3	2.6
Less: Comprehensive (loss) attributable to redeemable noncontrolling interests	(0.4)	(0.3)	(1.2)	(0.3)
Total Comprehensive income (loss) attributable to Bruker Corporation	$ (28.7)	$ 51.9	$ 8.5	$ 143.2

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, Tax	$ 0	$ 2.1	$ 2.2	$ 0.7
Derivatives designated as hedging instruments net of tax	2.3	5	(16.8)	8.3
Pension and other postretirement benefit liability adjustments, net of tax expense	$ 0	$ 0.2	$ 0	$ 0.6

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Total Shareholders' Equity Attributable to Bruker Corporation	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income, Net of tax	Noncontrolling Interests in Consolidated Subsidiaries	Redeemable Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2022	$ 1,125.7	$ 1,113.8	$ 1.7	$ (1,085)	$ 256.3	$ 1,926	$ 14.8	$ 11.9	$ 6.1
Balance (in shares) at Dec. 31, 2022			147,023,144	28,366,442
Increase (Decrease) in Stockholders' Equity
Stock options exercised	0.7	0.7			0.7
Stock options exercised (in shares)			34,957
Restricted Stock units vested	(0.1)	(0.1)			(0.1)
Restricted Stock units vested (in shares)			18,463
Stock based compensation	4.1	4.1			4.1
Employee stock purchase plan	0.2	0.2			0.2
Shares Repurchased	(22.3)	(22.3)		$ (22.2)	(0.1)
Shares Repurchased (in shares)			(315,318)	315,318
Cash dividends declared and paid to common shareholders	(7.4)	(7.4)				(7.4)
Biognosys acquisition - other shareholders									2.3
Other shareholders of majority-owned acquisitions									3.6
Proceeds from the sale of noncontrolling interests	5.3							5.3
Consolidated net (loss) income	77.5	76.5				76.5		1	(0.1)
Other comprehensive income (loss)	15.1	14.8					14.8	0.3	0.1
Balance at end of period at Mar. 31, 2023	1,198.8	1,180.3	$ 1.7	$ (1,107.2)	261.1	1,995.1	29.6	18.5	12
Balance ending (in shares) at Mar. 31, 2023			146,761,246	28,681,760
Increase (Decrease) in Stockholders' Equity
Stock options exercised	0.5	0.5			0.5
Stock options exercised (in shares)			26,265
Restricted Stock units vested (in shares)			2,897
Stock based compensation	4.1	4.1			4.1
Employee stock purchase plan	1.8	1.8			1.8
Employee Stock Purchase Plan (in shares)			26,667
Cash dividends declared and paid to common shareholders	(7.4)	(7.4)				(7.4)
Loans to noncontrolling interest	(0.3)							(0.3)
Biognosys acquisition - other shareholders									0.2
Consolidated net (loss) income	58.2	57.1				57.1		1.1	(0.4)
Other comprehensive income (loss)	(5)	(5.2)					(5.2)	0.2	0.1
Balance at end of period at Jun. 30, 2023	1,250.7	1,231.2	$ 1.7	$ (1,107.2)	267.5	2,044.8	24.4	19.5	11.9
Balance ending (in shares) at Jun. 30, 2023			146,817,075	28,681,760
Balance at beginning of period at Dec. 31, 2023	1,394.6	1,377.2	$ 1.7	$ (1,237.2)	282.9	2,323.8	6	17.4	18.7
Balance (in shares) at Dec. 31, 2023			145,164,826	30,778,879
Increase (Decrease) in Stockholders' Equity
Stock options exercised	3.4	3.4			3.4
Stock options exercised (in shares)			146,765
Restricted Stock units vested (in shares)			23,051
Stock based compensation	4.6	4.6			4.6
Employee stock purchase plan	0.2	0.2			0.2
Cash dividends declared and paid to common shareholders	(7.3)	(7.3)				(7.3)
Loans to noncontrolling interest	(0.9)							(0.9)
Consolidated net (loss) income	52.3	50.9				50.9		1.4	(0.3)
Other comprehensive income (loss)	(14)	(13.7)					(13.7)	(0.3)	(0.5)
Balance at end of period at Mar. 31, 2024	1,432.9	1,415.3	$ 1.7	$ (1,237.2)	291.1	2,367.4	(7.7)	17.6	17.9
Balance ending (in shares) at Mar. 31, 2024			145,334,642	30,778,879
Increase (Decrease) in Stockholders' Equity
Stock options exercised	0.5	0.5			0.5
Stock options exercised (in shares)			24,484
Restricted Stock units vested	(0.1)	(0.1)			(0.1)
Restricted Stock units vested (in shares)			1,404
Stock based compensation	4.8	4.8			4.8
Employee stock purchase plan	2.1	2.1			2.1
Employee Stock Purchase Plan (in shares)			31,291
Public Offering, net of issuance costs of $0.8 million	403	403	$ 0.1		402.9
Public Offering, net of issuance costs of $0.8 million, shares			6,000,000
Cash dividends declared and paid to common shareholders	(7.7)	(7.7)				(7.7)
Consolidated net (loss) income	7.9	7.6				7.6		0.3	(0.3)
Other comprehensive income (loss)	(36.4)	(36.3)					(36.3)	(0.1)	(0.1)
Balance at end of period at Jun. 30, 2024	$ 1,807	$ 1,789.2	$ 1.8	$ (1,237.2)	$ 701.3	$ 2,367.3	$ (44)	$ 17.8	$ 17.5
Balance ending (in shares) at Jun. 30, 2024			151,391,821	30,778,879

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Cash dividends (per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05
IPO
Subsidiary, Sale of Stock [Line Items]
Stock issuance cost	$ 0.8

UNAUDITED CONDENSED CONSOLIDA_8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS SFr in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Cash flows from operating activities:
Net income	$ 59.6	$ 135.2
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	79.9	51
Stock-based compensation expense	12.2	12.1
Deferred income taxes	(22.3)	9.4
Impairment of minority investments and other long-lived assets	21.6	18.3
Gain on sale of minority investment	0	(6.8)
Loss (Gain) on sale of property, plant and equipment	0.8	(9.6)
Other non-cash (income) expenses, net	(7.1)	16
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable	29.5	30.5
Inventories	(94)	(114.4)
Accounts payable and accrued expenses	5.6	(3.4)
Income taxes payable, net	(22.4)	(17.8)
Deferred revenue and customer advances	2.1	21.1
Other changes in operating assets and liabilities, net	(42.6)	(41.1)
Net cash provided by operating activities	22.9	100.5
Cash flows from investing activities:
Purchases of property, plant and equipment	(46)	(48.5)
Proceeds from sale of minority investment	0	11.8
Cash paid for minority investments	(10)	(9.3)
Cash paid for acquisitions, net of cash acquired	(1,576.5)	(102.7)
Proceeds from sales of property, plant and equipment	0.9	10.7
Net proceeds from cross-currency swap agreements	2.5	3.8
Net cash used in investing activities	(1,629.1)	(134.2)
Cash flows from financing activities:
Repayments of revolving line of credit	(840.1)	0
Proceeds from revolving line of credit	1,073.3	0
Repayment of other debt, net	(10.5)	(4.5)
Proceeds from 2024 Note Purchase Agreements	472.1	0
Proceeds from 2024 Term Loan Agreements	329.5	0
Proceeds from long-term debt	4.1	2.8
Repayment of 2012 Note Purchase Agreement	(100)	0
Repayment of 2019 Term Note Agreement	(7.5)	(7.5)
Payment of deferred financing costs	(5.5)	0
Proceeds from Public Offering of common stock, net of issuance costs	402.9	0
Proceeds from issuance of common stock, net	5.7	2.8
Payment of contingent consideration	(0.5)	(2.5)
Payment of dividends to common shareholders	(15)	(14.7)
Repurchase of common stock	0	(22.4)
Proceeds from (payment for) the sale (purchase) of noncontrolling interests	(1)	5
Net cash provided by (used in) financing activities	1,307.5	(41)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(19.7)	4.2
Net change in cash, cash equivalents and restricted cash	(318.4)	(70.5)
Cash, cash equivalents and restricted cash at beginning of period	491.6	648.7
Cash, cash equivalents and restricted cash at end of period	173.2	578.2
Supplemental disclosure of cash flow information:
Restricted cash period beginning balance	3.3	3.2
Restricted cash period ending balance	$ 3.5	$ 3.4

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 7.6	$ 57.1	$ 58.5	$ 133.6

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 11, 2024 , Dr. Cynthia Friend , a member of the Company ’ s Board of Directors , adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act. Dr. Friend’s plan provides for the sale of up to 1,785 shares of the Company’s common stock through December 31, 2024. Any sales completed by Dr. Friend pursuant to the plan will be made in accordance with the prices and formulas set forth in the plan and such plan terminates on the earlier of the date all the shares under the plan are sold and December 31, 2024 .
Name	Dr. Cynthia Friend
Title	Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 11, 2024
Rule 10b5-1 Arrangement Terminated	true
Non-Rule 10b5-1 Arrangement Terminated	false
Termination Date	December 31, 2024
Arrangement Duration	294 days
Aggregate Available	1,785

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Bruker Corporation, together with its consolidated subsidiaries (Bruker or the Company), develops, manufactures and distributes high-performance scientific instruments and analytical and diagnostic solutions that enable its customers to explore life and materials at microscopic, molecular and cellular levels. Many of the Company’s products are used to detect, measure and visualize structural characteristics of chemical, biological and industrial material samples. The Company’s products address the rapidly evolving needs of a diverse array of customers in life science research, pharmaceuticals, biotechnology, applied markets, cell biology, clinical research, microbiology, in-vitro diagnostics, nanotechnology and materials science research. The Company has four reportable segments, Bruker Scientific Instruments (BSI) BioSpin, BSI CALID (Chemicals, Applied Markets, Life Science, In Vitro Diagnostics, Detection), BSI Nano and Bruker Energy & Supercon Technologies (BEST). BSI BioSpin Segment designs, manufactures and distributes enabling life science tools based on magnetic resonance technology and provides laboratory automation and quality control workflow solutions in a wide range of chemical research fields. BSI BioSpin Segment’s revenues are generated by academic and government research customers, pharmaceutical and biotechnology companies and nonprofit laboratories, as well as chemical, food and beverage, clinical and other industrial companies. BSI CALID Segment designs, manufactures and distributes life science mass spectrometry, applied spectrometry and ion mobility spectrometry solutions, analytical and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies, molecular diagnostics, microbiology and biomedical testing equipment, and radiological/nuclear detectors for Chemical, Biological, Radiological, Nuclear and Explosive (CBRNE) detection. Customers of the BSI CALID Segment include academic institutions and medical schools; pharmaceutical, biotechnology and diagnostics companies; contract research organizations; nonprofit and for-profit forensics laboratories; agriculture, food and beverage safety laboratories; environmental and clinical microbiology laboratories; hospitals and government departments and agencies. BSI Nano Segment designs, manufactures and distributes advanced X-ray instruments; atomic force microscopy instrumentation; advanced fluorescence optical microscopy instruments; analytical tools for electron microscopes and X-ray metrology; defect-detection equipment for semiconductor process control; handheld, portable and mobile X-ray fluorescence spectrometry instruments; spark optical emission spectroscopy systems; chipcytometry products and services for targeted spatial proteomics, multi-omic services; optofluidic and proteomic barcoding platforms; and products and services for spatial genomics research. Customers of the BSI Nano Segment include academic institutions, governmental customers, nanotechnology companies, semiconductor companies, raw material manufacturers, industrial companies, biotechnology and pharmaceutical companies and other businesses involved in materials research and life science research analysis. BEST Segment develops and manufactures superconducting and non-superconducting materials and devices for use in renewable energy, energy infrastructure, healthcare and “big science” research. The segment focuses on metallic low temperature superconductors for use in magnetic resonance imaging, nuclear magnetic resonance, fusion energy research and other applications. The unaudited condensed consolidated financial statements represent the consolidated accounts of the Company. All intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements as of June 30, 2024, and December 31, 2023, and for the three and six months ended June 30, 2024, and 2023, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, the financial information presented herein does not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement have been included. The results for interim periods are not necessarily indicative of the results expected for any other interim period or the full year. At June 30, 2024, the Company’s significant accounting policies as detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, have not changed. Effective in the quarter ended June 30, 2024, the Company entered into a multi-currency notional cash pooling agreement with a financial institution to manage cash flow more efficiently and optimize liquidity. Additionally, the Company added applicable revenue recognition policy updates relevant to recent acquisitions. Accounting policies adopted relevant to these activities are described in the following paragraphs Multi-Currency Notional Cash Pooling Policy Effective during the quarter ended June 30, 2024, the Company entered into a master netting arrangement with a third-party financial institution whereby certain subsidiaries participate in a notional cash pooling arrangement to manage global liquidity requirements. As part of the master netting arrangement, the participating subsidiaries combine their cash balances in pooling accounts at the same financial institution with the ability to offset bank overdrafts of one participant against positive cash account balances held by another participant. Under the terms of the master netting arrangement, the financial institution has the right, ability, and intent to offset a positive balance in one account against an overdrawn amount in another account. Amounts in each of the accounts are unencumbered and unrestricted with respect to use. As such, the net positive cash balance related to this pooling arrangement is included in cash, and cash equivalents in the consolidated balance sheets. The notional cash pool runs daily on a net positive cash basis and is not intended to be used as a source of funding. In the event there is a one-day net overdraft due to the timing of bank postings, the overdraft would represent a short-term loan from the bank and would be classified as current debt on the consolidated balance sheets and financing cash flows in the consolidated statement of cash flows. As of June 30, 2024, the Company was not in a net overdraft position with respect to the notional cash pooling arrangement. Revenue Recognition Policy Revenues from instrument rental and reagent agreements provide customers with the right to use the Company’s instruments upon entering into multi-year agreements to purchase annual minimum amounts of reagents. These types of agreements include an embedded lease relating to the customer’s right to use the Company’s instruments over the period of the agreement. The agreement transaction price is allocated between the instrument and the reagents based on their relative standalone selling prices. When collectability of payments due is probable, reagent rental programs that effectively transfer control of instruments to customers are classified as sales-type leases and instrument revenue and cost of revenue are recognized upon the transfer of control to the customer which is often in advance of billings to the customer. The Company’s right to future consideration from reagent purchases under the agreement is allocated to instrument revenue and is recorded as a lease receivable within other current and long-term assets. Revenues from instrument rental and reagent agreements where collectability of payments due is not probable or that do not transfer control of the instruments to customers are classified as operating leases and instrument revenue and costs of revenue are recognized over the term of the agreement. The cost of the instrument is capitalized as a long-term asset and depreciated to cost of revenues. Lease revenues from these agreements are presented in product revenue in the consolidated statement of income. Risks and Uncertainties The Company is subject to the same risks and uncertainties as disclosed in its Annual Report on Form 10-K filed with the SEC on February 29, 2024, however, as of January 1, 2024, the Company is subject to new risks related to its self-funded health insurance. Effective January 1, 2024, the Company is self-insured for health care claims for eligible participating U.S. employees subject to certain deductibles and limitations. The Company determines its liability for claims incurred but not reported for insurance liabilities on an actuarial basis. Since there are many estimates and assumptions involved in recording insurance liabilities, differences between actual future events and prior estimates and assumptions, could result in materially different amounts of expense and result in adjustments to these liabilities and materially different amounts of expense, which could harm our business and adversely affect our results of operations and financial condition. Use of Estimates The preparation of the unaudited condensed consolidated financial statements requires the Company to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis the Company evaluates estimates, judgments and methodologies. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the global supply chain interruptions, higher energy costs and shortages, increased costs of and delivery times for critical raw materials, the global economy, including inflation and the threat of recession, and geopolitical instability will directly or indirectly impact future business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee cost related amounts, will depend on future developments that are highly uncertain, including as a result of new developments concerning global supply chain and various global conflicts. The Company has made estimates of the impact of these disruptions within the financial statements and there may be changes to those estimates in future periods. Actual results may differ from management’s estimates if these results differ from historical experience.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregation of information related to income taxes paid as presented on the Cash Flow Statement. This guidance is effective for annual reporting periods beginning after December 15, 2024. The Company is evaluating the potential impact of ASU 2023-09 on the Company’s consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segments Disclosures (“ASU 2023-07”). The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”). These significant segment expenses are included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASC 2023-07 are also required for public entities with a single reportable segment. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim periods after December 15, 2024. The Company is evaluating the potential impact of ASU 2023-07 on the Company’ s consolidated financial statements and related disclosures.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The following table present the Company’s revenues by Segment (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue by Segment: BSI BioSpin $ 217.5 $ 162.0 $ 400.3 $ 342.3 BSI CALID 265.6 227.2 493.5 463.9 BSI Nano 252.5 225.1 492.9 434.7 BEST 69.1 72.7 142.2 134.9 Eliminations (a) ( 4.0 ) ( 5.1 ) ( 6.5 ) ( 8.6 ) Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2 (a) Represents product and service revenue between reportable segments. Revenue for the Company recognized at a point in time versus over time is as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue recognized at a point in time $ 686.5 $ 586.7 $ 1,295.0 $ 1,185.4 Revenue recognized over time 114.2 95.2 227.4 181.8 Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2 The following table presents the Company’s revenue by End Customer Geography (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue by End Customer Geography: United States $ 243.7 $ 179.3 $ 438.5 $ 354.4 Germany 83.5 61.5 150.3 124.1 Rest of Europe 192.3 161.2 370.4 321.0 China 120.4 116.5 236.1 224.1 Rest of Asia Pacific 106.2 106.8 213.2 239.4 Other 54.6 56.6 113.9 104.2 Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2 Remaining Performance Obligations Remaining performance obligations represent the aggregate transaction price allocated to a promise to transfer a good or service that is fully or partially unsatisfied at the end of the period. As of June 30, 2024, remaining performance obligations were approximately $ 2,257.7 million. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, note receivables and unbilled receivables (contract assets) and deferred revenue, customer deposits and billings in excess of revenue recognized (contract liabilities) on the Company’s unaudited condensed consolidated balance sheets. Contract assets— Most of the Company’s long-term contracts and revenues from certain instrument rental and reagent agreements are billed as work progresses in accordance with the contract terms and conditions, either at periodic intervals or upon achievement of certain milestones. Billing often occurs subsequent to revenue recognition, resulting in contract assets. Contract assets are classified as either other current assets or other long-term assets in the unaudited condensed consolidated balance sheets. The balance of contract assets as of June 30, 2024, and December 31, 2023, was $ 103.6 million and $ 85.8 million, respectively. Contract liabilities— The Company often receives cash payments from customers in advance of the Company’s performance, resulting in contract liabilities. These contract liabilities are classified as either current or long-term in the unaudited condensed consolidated balance sheets based on the timing of when revenue recognition is expected. As of June 30, 2024 and December 31, 2023, the contract liabilities were $ 595.8 million and $ 491.4 million, respectively. The increase in the contract liability balance during the six months ended June 30, 2024, is primarily the result of new cash payments received, which was offset in part by satisfying performance obligations. Approximately $ 227.7 million of the contract liability balance on December 31, 2023 was recognized as revenue during the six months ended June 30, 2024.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 420.6 $ 371.2 Work-in-process 383.8 314.9 Finished goods 265.6 183.9 Demonstration units 105.9 98.3 Total Inventories $ 1,175.9 $ 968.3 Finished goods include in-transit systems shipped to the Company’s customers for which control has not passed to the customers. As of June 30, 2024 and December 31, 2023, the value of finished goods inventory-in-transit was $ 57.1 million and $ 48.6 million, respectively.

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Other Current Assets	5. Other Current Assets Other current assets consisted of the following (in millions): June 30, December 31, Unbilled and notes receivable $ 99.8 $ 83.9 Income and other taxes receivable 87.3 45.9 Prepaid expenses 41.6 26.7 Deposits with vendors 32.1 28.8 Interest rate cross-currency swap agreements 12.7 12.0 Other assets 26.7 18.3 Other current assets $ 300.2 $ 215.6

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Acquisitions	6. Acquisitions The Company does not expect the amounts allocated to goodwill to be deductible for tax purposes. 2024 In the six months ended June 30, 2024, the Company completed various acquisitions that collectively complemented its existing product offerings of the Company’s existing businesses. The following table reflects the consideration transferred and the respective reportable segment for certain of the 2024 acquisitions (in millions) NanoString Technologies, Inc. ELITechGroup Chemspeed Technologies AG Other Total Segment BSI Nano BSI CALID BSI BBIO Various Consideration Transferred: Cash paid $ 392.6 $ 951.9 $ 175.4 $ 106.2 $ 1,626.1 Cash acquired ( 0.5 ) ( 43.4 ) ( 0.6 ) ( 7.6 ) ( 52.1 ) Fair value of contingent consideration — — — 13.4 13.4 Working capital and other closing adjustments — 23.5 — 2.1 25.6 Total consideration transferred, net of cash acquired $ 392.1 $ 932.0 $ 174.8 $ 114.1 $ 1,613.0 Allocation of Consideration Transferred: Accounts receivable $ 16.8 $ 30.6 $ 7.0 $ 2.9 $ 57.3 Inventories 51.5 31.6 48.7 29.4 161.2 Other current assets 8.9 15.7 1.4 1.1 27.1 Property, plant and equipment 31.0 36.2 1.8 0.8 69.8 Other assets 20.3 41.3 17.3 3.4 82.3 Intangible assets: Technology 70.0 193.3 27.9 33.6 324.8 Customer relationships 71.0 236.3 51.5 5.7 364.5 Backlog — 0.5 9.4 4.9 14.8 Trade name 20.0 12.3 4.8 2.2 39.3 Goodwill 187.8 500.8 123.5 64.0 876.1 Deferred taxes (net) — ( 99.8 ) ( 14.7 ) 2.3 ( 112.2 ) Liabilities assumed ( 85.2 ) ( 66.8 ) ( 103.8 ) ( 36.2 ) ( 292.0 ) Total consideration allocated $ 392.1 $ 932.0 $ 174.8 $ 114.1 $ 1,613.0 NanoString Technologies, Inc. On May 6, 2024, the Company acquired substantially all of the assets and rights associated with the business of NanoString Technologies, Inc. including the equity interests of the six subsidiaries (collectively hereinafter “NanoString”) for approximately $ 392.6 million in cash consideration. The Company also assumed certain of its liabilities, including potential liabilities associated with ongoing litigations. See Note 16, Commitments and Contingencies for more details on these litigations. NanoString develops end-to-end research solutions in the spatial biology field and provides life-science research solutions for spatial transcriptomics and gene expression analysis which have been critical in enabling scientists and medical researchers to advance vital discovery, translational, and pre-clinical disease research. NanoString is headquartered in Seattle, Washington, and will be integrated into BSI Nano Segment. The Company has recorded the provisional determination of the fair value of the identifiable assets acquired and liabilities assumed based on the information available as of the time of the issuance of these financial statements. Accordingly, the values recognized are subject to change until the Company finalizes the allocation of consideration transferred during the measurement period, which is no later than one year from acquisition date. The final determination may result in asset and liability values that are different than the preliminary estimates. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. Using a residual method, any excess between the consideration paid and the fair value of net assets acquired was recorded as goodwill. The Company believes goodwill represents the future economic benefits of the acquisition that are not individually identifiable, such as synergies between the acquired assets and the Company’s existing spatial biology platforms. The amortization period for the intangible assets acquired is calculated based on the estimated recovery of future cash flows. The Company has determined the appropriate life of the intangible assets to be twelve years for tradename and developed technology, and fifteen years for customer relationships. Results of acquired operations of NanoString Results of the acquired operations of NanoString have been included in the consolidated financial statements of the Company since its acquisition date of May 6, 2024. For the period from May 6, 2024 through June 30, 2024, NanoString had total revenue s of $ 17.7 million and a pre-tax net loss of $ 13.3 million. The tax effect of pre-tax losses incurred by NanoString will be included in the related jurisdictional tax returns of its subsidiaries. In connection with the acquisition of NanoString, the Company incurred $ 7.2 million of acquisition-related expenses. These expenses primarily include legal and professional services and are recorded as acquisition-related expenses included within "Other charges, net" in the consolidated statements of income. ELITechGroup On May 2, 2024, the Company acquired 100 % of the outstanding share capital of TecInvest S.à r.l, Eliman 1 S.à r.l,, and Eliman 2 S.à r.l, and their 100% interests in 18 subsidiaries (collectively “ELITech” or “ELITech Group”) for $ 951.9 million of cash consideration. The total consideration transferred was $ 932.0 million net of cash acquired and customary closing adjustments, including a non-cash assumption of seller liabilities to acquired subsidiaries. ELITechGroup’s subsidiaries are active in the molecular diagnostics, microbiology and biomedical testing equipment field and, as such, have been integrated into the BSI CALID Segment. ELITech’s primary locations include Turin in Italy, Signes in France, Logan in Utah and Bothell in Washington. The Company has recorded a provisional determination of the fair value of the identifiable assets acquired and liabilities assumed based on the information available to us as of the time of the issuance of these financial statements. Accordingly, the values recognized are subject to change until the Company finalizes the allocation of the consideration transferred during the measurement period, which is no later than one year from acquisition date. The final determination may result in asset and liability values that are different than the preliminary estimates. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. Using a residual method, any excess between the consideration paid and the fair value of net assets acquired was recorded as goodwill. We believe goodwill to represent future economic benefits of the acquisition that are not individually identifiable, primarily expected synergies from combining the businesses such as the elimination of surplus facilities and headcount, and the utilization of the Company’s existing commercial infrastructure to expand sales of the acquired businesses’ products and services. The amortization period for the intangible assets acquired ranges from five to fifteen years for customer relationships, ten to fourteen years for developed technology, six years for tradename, and four years for a favorable executory contract. Results of acquired operations of ELITech Results of the acquired operations of ELITech have been included in the consolidated financial statements of the Company since its acquisition date of April 30, 2024. For the period from April 30, 2024 through June 30, 2024, ELITech had total revenues of $ 27.5 million and pre-tax loss of $ 7.7 million. The tax effect of pre-tax losses incurred by ELITech will be included in the related jurisdictional tax returns of its subsidiaries. In connection with the acquisition of ELITech, the Company incurred $ 5.5 million of acquisition-related expenses. These expenses primarily include stamp duties, legal and professional services. These acquisition-related expenses were recorded within "Other charges, net" in the consolidated statements of income. Chemspeed Technologies AG On March 6, 2024, the Company acquired 100 % of the outstanding share capital of Chemspeed Technologies AG and its wholly owned subsidiaries: Chemspeed Technologies Inc., Chemspeed Technologies Ltd., and Chemspeed Technologies GmbH, (collectively hereinafter “Chemspeed”) for cash consideration of $ 154.7 million CHF (approximately $ 175.4 million). Chemspeed provides automated laboratory research and development and quality control workflow solutions in a wide range of chemical research fields. Chemspeed is domiciled in Füllinsdorf, Switzerland and was integrated into the BSI BBIO Segment. The Company has recorded the provisional determination of the fair value of the identifiable assets acquired and liabilities assumed based on the information available as of the time of the issuance of these financial statements. Accordingly, the values recognized are subject to change until the Company finalizes the allocation of the consideration transferred during the measurement period, which is no later than one year from acquisition date. The final determination may result in asset and liability values that are different than the preliminary estimates. During the second quarter of 2024 the Company recorded certain measurement period adjustments relating the provisional amounts recorded for accounts receivable, inventory, deferred revenue, intangible assets and goodwill relating to updates to the Company’s valuation and other assumptions. These measurement period adjustments were not material and there was no impact to our consolidated statements of income that would have been recognized in previous periods if the adjustments were recognized as of the acquisition date. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. Using a residual method, any excess between the consideration paid and the fair value of net assets acquired was recorded as goodwill. The Company believes goodwill represents the future economic benefits of the acquisition that are not individually identifiable. The Company expects significant synergies related to the acquired technology that will be integrated into Bruker’s existing platforms to offer a full set of lab workplace automated solutions. The amortization period for the intangible assets acquired is ten years for the trade name, seven years for the developed technology and fifteen years for the customer relationships. The Company expects to amortize backlog through the first quarter of 2026. Results of acquired operations of Chemspeed Results of the acquired operations of Chemspeed have been included in the consolidated financial statements of the Company since its acquisition date of March 6, 2024. For the period from March 6, 2024, through June 30, 2024, Chemspeed had total revenues of $ 19.2 million and pre-tax loss of $ 4.6 million. The tax effect of pre-tax losses incurred by Chemspeed will be included in the related jurisdictional tax returns of its subsidiaries. Acquisition-related expenses incurred in connection with the Chemspeed acquisition were not material. These expenses primarily include legal and professional services and are recorded as acquisition-related expenses included within "Other charges, net" in the consolidated statements of income. Supplemental Pro Forma Information The supplemental pro forma financial information presented below is for illustrative purposes only and does not include the pro forma adjustments that would be required under Article 11 of Regulation S-X for pro forma financial information. The following supplemental pro forma financial information is not necessarily indicative of the financial position or results of operations that would have been realized if the NanoString, ELITech and Chemspeed acquisitions had been completed on January 1, 2023. No effect has been given for synergies, if any, that may have been achieved through the acquisitions nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions that the Company believes are reasonable under the circumstances. On February 4, 2024, NanoString and certain of its subsidiaries filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (such court, the “Court” and such cases, the “Cases”). Consequently, NanoString was unable to file its Annual Report on Form 10-K for the year ended December 31, 2023, under the Securities and Exchange Act of 1934, as amended. Historical financial statements of NanoString are only available for the periods until the quarter ended September 30, 2023. The results of operations for the periods thereafter would have differed significantly due to the adverse developments that occurred with respect to the Company’s business and liquidity, including events preceding the commencement of the Chapter 11 Cases. As a result, it would not be meaningful and would be impracticable to present comparative pro forma financial information that includes the results of operations of NanoString for the three and six months ended June 30, 2024. The unaudited pro forma financial information was as follows (in millions): Three months ended Three months ended Before Adjustments Pro forma After Adjustments Before Adjustments Pro forma After Adjustments Revenue $ 815.3 $ — $ 815.3 $ 770.8 $ — $ 770.8 Net (loss) income $ 5.0 $ ( 17.6 ) $ ( 12.6 ) $ 4.6 $ ( 29.9 ) $ ( 25.3 ) Six months ended Six months ended Before Adjustments Pro forma After Adjustments Before Adjustments Pro forma After Adjustments Revenue $ 1,581.7 $ — $ 1,581.7 $ 1,539.6 $ — $ 1,539.6 Net (loss) income $ 47.2 $ ( 15.1 ) $ 32.1 $ 27.1 $ ( 55.8 ) $ ( 28.7 ) The supplemental pro forma financial information reflects pro forma adjustments which primarily include: • A net increase in amortization and depreciation expense of tangible and intangible assets which are assumed to be recorded at their assigned fair values as of January 1, 2023, of $ 7.6 million and $ 14.9 million for the three months ended June 30, 2024, and June 30, 2023, respectively, and $5.1 million and $ 25.8 million for the six months ended June 30, 2024, and June 30, 2024 respectively. • A net decrease in interest expense of $10.0 million and $ 15.0 million for the three months ended June 30, 2024, and June 30, 2023 respectively, and $ 10.0 million and $30.0 million for the six months ended June 30, 2024, and June 30, 2023, respectively. • The related income tax effects of the adjustments noted above were not material. Other 2024 Acquisitions In the six months ended June 30, 2024, the Company acquired other businesses which were accounted for under the acquisition method that complemented the Company’s existing product offerings. The Company completed its provisional fair value allocations of these other wholly owned acquisitions subject to the final net working capital adjustment. The fair values of these identifiable intangible assets have been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisitions, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The amortization period for the intangible assets acquired is seven to eleven years for the technology. The fair values of the trade name and customer relationships were not material and were expensed in full in the three months ended March 31, 2024. For the period from the date of acquisition through June 30, 2024, the revenues and results of operations included in the consolidated financial statements of the Company were not material. Additional pro forma information combining the results of operations of the Company and these acquisitions have not been included as the revenues and expenses were not material. The following table reflects the consideration transferred and the respective reportable segment for the acquisition (in millions): Name of Acquisition Date Acquired Segment Total Cash Phasefocus Holdings Limited March 1, 2024 BSI Nano $ 6.3 $ 6.4 Nanophoton Corporation February 5, 2024 BSI CALID $ 13.3 $ 10.8 Spectral Instruments Imaging LLC February 1, 2024 BSI BBIO $ 29.3 $ 29.0 Nion, LLC January 2, 2024 BSI Nano $ 42.9 $ 37.4 Tornado Spectral Systems, Inc. January 1, 2024 BSI CALID $ 22.3 $ 22.6 $ 114.1 $ 106.2 Spectral Instruments Imaging, LLC On February 1, 2024, the Company acquired 100 % of the outstanding share capital of Spectral Instruments Imaging, LLC (“Spectral”) for cash consideration of $ 29.0 million, subject to a net working capital adjustment, and additional consideration of up to $ 10 million if certain revenue and EBITDA targets are met through 2025. The net working capital adjustment was finalized in the second quarter of 2024 and resulted in additional purchase consideration of $ 0.9 million. Spectral manufactures preclinical optical systems for bioluminescent, fluorescent and x-ray imaging to fit the workflows of animal scientists. Spectral is domiciled in Tucson, Arizona and was integrated into the BSI BBIO Segment. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The amortization period for the intangible assets acquired is six years for the technology and fourteen years for the customer relationships. The fair value of the trade name was not material and was expensed in full in the three months ended March 31, 2024. For the period from the date of acquisition through June 30, 2024, the revenues and results of operations included in the consolidated financial statements of the Company were not material. Nion, LLC On January 2, 2024, the Company acquired 100 % of the outstanding share capital of Nion, LLC (“Nion”) for cash consideration of $ 37.4 million, subject to a net working capital adjustment and additional consideration of up to $ 23.0 million if certain revenue and non-revenue milestones are achieved through 2026. The net working capital adjustment was finalized in the second quarter of 2024 and resulted in no additional purchase consideration. A portion of the contingent consideration is linked to the continued employment of selected employees which represents post combination services. As such, these amounts will be recognized as compensation expense in the consolidated statements of income over the service period. Nion designs and manufacturers high-end electron-optical instruments with diverse application to the needs of its customers. Nion is domiciled in Kirkland, Washington and was integrated into the BSI NANO Segment. The fair value of the identifiable intangible assets has been estimated using the income approach through a discounted cash flow analysis. The cash flow analysis is based on the forecasts used by the Company to price the acquisition, and the discount rates applied were benchmarked by referencing the implied rate of return of the Company’s pricing model and the weighted average cost of capital. The amortization period for the intangible assets acquired is seven years for the technology and the trade name, and fifteen years for the customer relationships. Backlog will be amortized through the fourth quarter of 2027. For the period from the date of acquisition through June 30, 2024, the revenues and results of operations included in the consolidated financial statements of the Company were not material. 2024 Minority and Equity-method Investments In the quarter ended March 31, 2024, the Company also completed a minority investment. The investment is accounted for under the measurement alternative, at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment carrying value of this minority investment at, June 30, 2024 remains at cost. The following table reflects the consideration transferred for the investments (in millions): Name Financial Date Acquired Total Cash Other minority investments Other long-term assets February 22, 2024 $ 10.0 $ 10.0 $ 10.0 $ 10.0 In the three and six months ended June 30, 2024, the Company recognized a $ 20.2 million impairment charge to write-down the carrying value of certain other minority investments completed in prior years which are also accounted for under the measurement alternative. The impairment charges recognized were based on reasonably established pricing for additional financing rounds. The impairment charge is included in “Interest and other income (expense), net” in the Consolidated Statements of Income and Comprehensive Income. Subsequent Event On July 31, 2024, the Company acquired a minority equity interest in NovAliX, a preclinical contract research organization specializing in expert drug discovery services, headquartered in Strasbourg, France for EUR 31.5 million (approximately $ 34.1 million). NovAliX is a leader in drug discovery programs, integrating biophysics, chemistry, and chemoinformatics. Concurrent with the transaction, the Company entered into an agreement with remaining shareholders that provides the Company with the right to purchase, and the shareholders with the right to sell, the remaining ownership of NovAliX for cash at a contractually defined redemption value exercisable beginning in 2029. These rights (embedded derivatives) can be accelerated, at discounted redemption values, upon certain events post transaction. 2023 In the six months ended June 30, 2023, the Company completed the following acquisitions that complemented the Company’s existing product offerings. The following table reflects the consideration transferred and the reportable segment for these acquisitions (in millions): Biognosys, AG Zontal, Inc. Segment BSI CALID BSI BioSpin Consideration Transferred: Cash paid $ 73.6 $ 14.8 Cash acquired ( 9.5 ) ( 0.3 ) Holdback 0.2 — Fair value of hybrid financial instruments - founders — 18.5 Fair value of redeemable noncontrolling interest - other shareholders 2.5 — Fair value of contingent consideration — 0.5 Total consideration transferred $ 66.8 $ 33.5 Allocation of Consideration Transferred: Accounts receivable $ 3.6 $ 0.7 Inventories 0.4 — Other current assets 0.9 0.3 Property, plant and equipment 8.0 — Other assets 4.3 2.5 Intangible assets: Technology 10.2 5.8 Customer relationships 13.8 4.0 Trade name 2.7 1.1 Backlog 0.8 0.2 Goodwill 47.5 25.9 Liabilities assumed ( 25.4 ) (a) ( 7.0 ) Total consideration allocated $ 66.8 $ 33.5 (a) This amount includes assumed liability for employee awards of $ 6.3 million on acquisition date and was settled in the period ended March 31, 2023. Zontal, Inc. On May 4, 2023, the Company acquired 60 % of the outstanding share capital of OSTHUS Beteiligungs GmbH and its wholly owned subsidiaries: OSTHUS Group GmbH, Zontal Inc., Zontal GmbH, and Zontal Data Information Technology (Dalian) co., Ltd, (hereinafter, the “Zontal Companies”) for EUR 13.4 million (approximately $ 14.8 million) with the potential for additional consideration of up to $ 14.4 million if certain revenue and EBITDA targets are met through 2025. Zontal, Inc, is the main operating company. The Zontal Companies offer various software applications and integrations including data management (Informatics and SDMS), which enables customers to harmonize, preserve and reuse their data to generate efficiencies and automate workflows. The Zontal Companies are domiciled in Aachen, Germany, and are integrated into the BSI BioSpin Segment. Concurrent with the acquisition, the Company entered into an agreement with the noncontrolling interest holders that provides the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 40 % of the Zontal Companies at a contractually defined redemption value exercisable beginning in 2027 and in 2031. The rights (embedded derivative) to the option shares can be exercised at a discounted redemption value upon certain events related to post combination employment services. As the options are tied to continued employment, the Company classified the hybrid instrument (noncontrolling interest with an embedded derivative) as a long-term liability on the consolidated balance sheet. The hybrid instrument associated with the options is initially measured at fair value on the acquisition date. Subsequent to the acquisition, the carrying value of the hybrid instrument is remeasured to fair value with changes recorded to stock-based compensation expense in proportion to the requisite service period vested. The amortization period for the intangible assets acquired is eight years for technology, ten years for the trade name, and thirteen years for the customer relationships. The Company expects to amortize backlog through 2028. Biognosys, AG On January 3, 2023, the Company acquired 97.15 % of the outstanding stock of Biognosys, AG (“Biognosys”), a privately held company, for cash consideration of CHF 75 million (approximately $ 80.1 million) less assumed liability for employee awards of CHF 5.9 million (approximately $ 6.3 million). Biognosys offers mass spectrometry based next-generation proteomics contract research services as well as proprietary proteomics software and laboratory consumables to support academic, pharma and biotech research and clinical development. Biognosys is domiciled in Zurich, Switzerland, and was integrated into the BSI CALID Segment. Concurrent with the acquisition, the Company entered into an agreement with the noncontrolling interest holders that provides the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 2.85 % of Biognosys for cash to the founders at a contractually defined redemption value exercisable beginning in 2028. The option price to acquire the remaining 2.85 % equity interest will have a minimum redemption, or floor, value at each purchase or sell date, subject to post combination employment. The fair value at acquisition date of these put option rights has been bifurcated into two financial instruments to separately account for the amounts attributable to the put option rights to sell the non-controlling interests on exercise dates at (1) above the minimum redemption value and (2) the minimum redemption value or floor value that is subject to post combination employment (the hybrid instrument) services. The rights (embedded derivative) to the option shares can be sold at a minimum redemption value provided certain post combination employment services are met or at fair value, if above the floor, on the purchase or sell date. Therefore, the portion assigned to the minimum redemption value of option value of the hybrid instrument, which is tied to continued employment of the noncontrolling interest holders, was classified as a long-term liability on the consolidated balance sheet. The hybrid instrument was initially measured at fair value on the acquisition date and shall be accreted over the post combination service period. The acquisition date fair value of the hybrid instrument which is an embedded derivative was not material. The rights associated with the portion of the noncontrolling interest above the minimum redemption value are contingently redeemable at the option of the Company or the noncontrolling interest holders. As redemption of the rights is contingently redeemable at the option of the noncontrolling interest shareholders, the Company classifies the carrying amount of these rights in the mezzanine section on the consolidated balance sheet, which is presented above the equity section and below liabilities. The redeemable noncontrolling interest is initially measured at fair value on acquisition date and subsequently at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on fair value as defined in the purchase agreement and its carrying amount adjusted for net income (loss) attributable to the noncontrolling interest. Adjustments to the carrying value of the redeemable noncontrolling interest are recorded through retained earnings. The amortization period for the intangible assets acquired is seven years for the technology and nine years for the customer relationships. The trade name was determined to have an indefinite life. The Company expects to amortize backlog through the end of 2025. Other 2023 Acquisitions During the six months ended June 30, 2023, the Company acquired other businesses which were accounted for under the acquisition method that complemented the Company's existing product offerings. The following table reflects the consideration transferred and the respective reportable segment for these acquisitions (in millions): Name of Acquisition Date Acquired Segment Total Cash Acquifer Imaging GmbH and Deltabyte GmbH January 4, 2023 BSI NANO $ 7.6 $ 7.6 Other majority owned acquisitions Various BSI CALID 19.1 12.2 $ 26.7 $ 19.8 2023 Minority and Equity-method Investments During the six months ended June 30, 2023, the Company also completed several minority investments. These investments are accounted for under the alternative measurement, and as such, the investment values also represent the carrying value at June 30, 2023. The following table reflects the consideration transferred and the respective reportable segment for the investments (in millions): Name Acquisition / Financial Date Acquired Segment Total Cash Other Investments Investment Other long-term assets Various Various $ 9.2 $ 9.2 $ 9.2 $ 9.2 In the three and six months ended June 30, 2023, the Company recorded a realized gain of $ 6.8 million from the sale of a minority investment. In the three and six months ended June 30, 2023, the Company recognized a $ 11.4 and $ 18.3 million impairment charge respectively, to write down the carrying value of certain minority investments. The realized gain and impairment charge are included in “Interest and other income (expense), net” in the Consolidated Statements of Income and Comprehensive Income.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill The following table sets forth the changes in the carrying amount of goodwill (in millions): Balance at December 31, 2023 $ 582.6 Current period additions/adjustments 876.1 Foreign currency effect ( 14.9 ) Balance at June 30, 2024 $ 1,443.8 Intangible Assets The following is a summary of intangible assets (in millions): June 30, 2024 December 31, 2023 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Existing technology and related patents $ 742.0 $ ( 264.0 ) $ 478.0 $ 428.3 $ ( 250.4 ) $ 177.9 Customer relationships 586.7 ( 106.5 ) $ 480.2 227.4 ( 93.5 ) 133.9 Trade names 66.9 ( 12.8 ) $ 54.1 28.4 ( 10.1 ) 18.3 Other 16.7 ( 4.7 ) $ 12.0 2.2 ( 1.8 ) 0.4 Intangible assets $ 1,412.3 $ ( 388.0 ) $ 1,024.3 $ 686.3 $ ( 355.8 ) $ 330.5 For the three months ended June 30, 2024, and 2023, the Company recorded amortization expense of $ 25.1 million and $ 11.2 million, respectively, related to intangible assets subject to amortization. For the six months ended June 30, 2024, and 2023, the Company recorded amortization expense of $ 41.3 million and $ 21.9 million, respectively, related to intangible assets subject to amortization. On a quarterly basis, the Company reviews its goodwill and intangible assets to determine if there have been any triggering events that could indicate an impairment. See Note 14, Other Charges, Net for discussion related to the impairment of other long-lived assets in connection with BCA and other restructuring plans for the three and six months ended June 30, 2024. There were no triggering events noted for the three and six months ended June 30, 2023.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	8. Debt The Company’s debt obligations consist of the following (in millions): June 30, December 31, CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2027 $ 83.5 $ — CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2029 83.5 — CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2031 167.0 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2034 55.7 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2036 218.2 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2039 205.9 — EUR notes (in U.S. Dollars) under the 2021 Note Purchase Agreement due 2031 160.7 165.8 CHF notes (in U.S. Dollars) under the 2019 Note Purchase Agreement due 2029 330.6 353.3 CHF notes (in U.S. Dollars) under the 2021 Note Purchase Agreement due 2031 333.9 356.9 CHF revolving loan (in U.S. Dollars) under the 2024 Revolving Credit Agreement 222.6 — U.S. Dollar notes under the 2019 Term Loan Agreement, annual payments of $ 15.0 270.8 278.3 U.S. Dollar notes under the 2012 Note Purchase Agreement due 2024 — 100.0 Unamortized debt issuance costs ( 3.4 ) ( 1.3 ) Other loans 11.0 7.6 Total notes and loans outstanding 2,140.0 1,260.6 Finance lease obligations 18.4 20.9 Total debt 2,158.4 1,281.5 Current portion of long-term debt and finance lease obligations ( 26.4 ) ( 121.2 ) Total long-term debt, less current portion $ 2,132.0 $ 1,160.3 The following is a summary of the maximum commitments and the net amounts available to the Company under the 2024 Revolving Credit Agreement and other lines of credit with various financial institutions located primarily in Germany and Switzerland that are unsecured and typically due upon demand with interest payable monthly, at June 30, 2024 (in millions): Weighted Total Amount Outstanding Outstanding Total 2024 Amended and Restated Credit 2.14 % $ 900.0 $ 222.6 $ 0.3 $ 677.1 Bank guarantees and working capital line varies 156.2 — 156.2 — Total revolving lines of credit $ 1,056.2 $ 222.6 $ 156.5 $ 677.1 As of June 30, 2024, the Company was in compliance with the financial covenants of all debt agreements. 2024 Term Loan Agreements On March 29, 2024, the Company, as borrower, entered into (i) a term loan agreement (the “Three- and Five-Year Term Loan Agreement”) with Bank of America, N.A., as administrative agent, BofA Securities, Inc., JPMorgan Chase Bank, N.A., TD Bank, N.A. and Wells Fargo Bank, N.A. acting as joint lead arrangers and joint bookrunners, the other agents party thereto and the other banks or other financial institutions or entities from time to time party thereto as lenders and (ii) a term loan agreement with Bank of America, N.A., as administrative agent, BofA Securities, Inc., acting as sole arranger and bookrunner (the “Seven-Year Term Loan Agreement” and together with the Three- and Five-Year Term Loan Agreement, the “Term Loan Agreements”), and the other banks or other financial institutions or entities from time to time party thereto as lenders. The Three- and Five-Year Term Loan Agreement provides for a (i) CHF 150 million three-year term loan facility and (ii) CHF 150 million five-year term loan facility. The Seven-Year Term Loan Agreement provides for a CHF 150 million seven-year term loan facility. Each term loan facility has a delayed draw component allowing for up to two borrowings under the relevant loan facility during the period from and including the effective date to the earlier of (i) September 30, 2024, and (ii) the date of termination of the commitments by the Administrative Agent during the continuance of an Event of Default as defined in the applicable Term Loan Agreement. The Company did not request any borrowings in connection with signing the Term Loan Agreements. Amounts outstanding under the Term Loan Agreements bear interest at a rate equal to (a) the Swiss Average Rate Overnight ( SARON ), plus a margin ranging from (i) 1.000 % to 1.500 % in the case of the three- and five-year term loan facilities and (ii) 1.250 % to 1.750 % in the case of the seven-year term loan facilities, in each case, based on the Company’s leverage ratio, provided, however, that if the loans are required to bear interest determined by reference to an Alternate Base Rate (“ABR Loans”), then such ABR Loans shall bear interest equal to (i) the federal funds effective rate plus ½ of 1% , (ii) the prime rate announced by Bank of America, N.A., and (iii) 1 %, plus a margin ranging from 0.100 % to 0.200 %, based on the Company’s leverage ratio. Loans under the Term Loan Agreements will be repayable in full at maturity, subject to scheduled quarterly amortization payments on (i) the three-year and five-year term loan facilities beginning in June 2024 and (ii) the seven-year term loan facility beginning in June 2026, and, in each case, may also be prepaid at the Company’s option in whole or in part without premium or penalty. The Term Loan Agreements contain representations and warranties, affirmative and negative covenants, and events of default, which the Company believes are usual and customary for an agreement of this type. The obligations under the Term Loan Agreements are unsecured and are fully and unconditionally guaranteed by certain of the Company’s subsidiaries. The other terms of the Term Loan Agreements are substantially similar to the terms of the 2024 Revolving Credit Agreement, including representations and warranties, affirmative, negative and financial covenants, and events of default. On April 29, 2024, the Company borrowed a total of CHF 300 million (approximately $ 330 million) consisting of the aggregate principal amounts of CHF 150 million (approximately $ 165 million) under the seven-year term loan facility and CHF 75 million (approximately $ 82 million) under each of the three-year and five-year term loan facilities. Following the quarter ended June 30, 2024, on July 2, 2024, the Company borrowed a total of CHF 150 million (approximately $ 166 million) consisting of the aggregate principal amounts of CHF 75 million (approximately $ 83 million) under each of the three-year and five-year term loan facilities. 2024 Note Purchase Agreements On February 1, 2024, and February 8, 2024, the Company entered into two note purchase agreements, referred to as the 2024 Note Purchase Agreements, with a group of accredited institutional investors. Pursuant to the 2024 Note Purchase Agreements, on April 15, 2024, the Company issued and sold CHF 431.0 million (approximately $ 472 million) of senior notes, referred to as the 2024 Senior Notes. Under the terms of the 2024 Note Purchase Agreements, interest on the 2024 Senior Notes is payable semi-annually on April 15 and October 15 of each year , commencing April 15, 2024, or October 15, 2024 . The 2024 Senior Notes are unsecured obligations of the Company and are fully and unconditionally guaranteed by certain of the Company’s subsidiaries. 2024 Amended and Restated Credit Agreement On January 18, 2024, the Company entered into the First Amendment to the 2019 Revolving Credit Agreement (the “Amended and Restated Credit Agreement” or “RCA”) to modify certain definitions within the agreement. The Amended and Restated Credit Agreement increased the aggregate principal amount from $ 600 million to $ 900 million and extended the maturity date to January 18, 2029, as may be further extended by the Company for the periods and on the terms set forth in the Amended and Restated Credit Agreement. In addition, the Amended and Restated Credit Agreement increased the uncommitted incremental facility whereby, under certain circumstances, the Company may, at its option, increase the amount of the revolving facility or incur term loans in an aggregate amount not to exceed $ 400 million. The RCA includes affirmative, negative and financial covenants and events of default customary for financings of this type. The negative covenants include, among others, restrictions on liens, indebtedness of the Company and its subsidiaries, asset sales, dividends, and transactions with affiliates. The financial covenants require the Company to maintain a maximum leverage ratio of 3.50 to 1.00 (the “Stated Leverage Ratio” or “SLR”) and a minimum interest coverage of 2:50 to 1.00. In accordance with the terms of the RCA, the Company can elect to increase the maximum leverage ratio to 4.00 to 1.00, the “Adjusted Leverage Ratio” or “ALR” provided that it shall (1) step down the ALR by 0.25 x after two full fiscal quarters following the date of a Material Acquisition, and (2) return to the otherwise SLR after four full fiscal quarters following the date of such Material Acquisition, provided, that the Company may not elect to increase the maximum leverage ratio to the ALR unless there shall be at least one full fiscal quarter immediately prior to such election during which the SLR is in effect. The events of default include, among others, payment defaults, defaults in the performance of affirmative and negative covenants, the inaccuracy of representations and warranties, bankruptcy and insolvency related events, certain ERISA events, material judgments, and the occurrence of a change of control. Proceeds of the Amended and Restated Credit Agreement may be used by the Company and its subsidiaries to finance working capital needs, refinance or reduce existing indebtedness and for general corporate purposes, including acquisitions. On June 25, 2024, the Company repaid CHF 150 million (approximately $ 168 million) of debt outstanding under the 2024 Amended and Restated Revolving Credit Agreement. On June 5, 2024, the Company repaid $ 420 million of debt outstanding under the 2024 Amended and Restated Revolving Credit Agreement. On April 29, 2024, and May 3, 2024, the Company borrowed approximately $ 434 million and $ 370 million, respectively, under the 2024 Amended and Restated Revolving Credit Agreement. On April 15, 2024, the Company repaid CHF 230 million (approximately $ 252 million) of debt outstanding under the 2024 Amended and Restated Revolving Credit Agreement with part of the proceeds received on the issuance of the 2024 Senior Notes. On January 18, 2024, the Company repaid $ 100 million of outstanding Series 2012A Senior Notes, Tranche D with the proceeds of the CHF 230 million (approximately $ 269 million) of debt outstanding under the revolving credit facility.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments The Company measures the following financial assets and liabilities at fair value on a recurring basis. The following tables set forth the Company’s financial instruments measured at fair value on a recurring basis and present them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement (in millions): June 30, 2024 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 16.2 $ — $ 16.2 $ — Interest rate and cross-currency swap agreements 24.1 — 24.1 — Forward currency contracts 2.5 — 2.5 — Embedded derivatives in purchase and delivery contracts 0.1 — 0.1 — Fixed price commodity contracts 0.5 — 0.5 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 44.6 $ — $ 43.4 $ 1.2 Liabilities: Contingent consideration $ 21.3 $ — $ — $ 21.3 Hybrid instruments liability 70.6 — — 70.6 Liability awards 0.4 — — 0.4 Interest rate and cross-currency swap agreements 18.7 — 18.7 — Forward currency contracts 0.5 — 0.5 — Total liabilities recorded at fair value $ 111.5 $ — $ 19.2 $ 92.3 December 31, 2023 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 226.9 $ — $ 226.9 $ — Interest rate and cross-currency swap agreements 20.3 — 20.3 — Forward currency contracts 1.3 — 1.3 — Embedded derivatives in purchase and delivery contracts 1.2 — 1.2 — Fixed price commodity contracts 0.3 — 0.3 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 251.2 $ — $ 250.0 $ 1.2 Liabilities: Contingent consideration $ 12.3 $ — $ — $ 12.3 Hybrid instruments liability 70.5 — — 70.5 Liability awards 0.7 — — 0.7 Interest rate and cross-currency swap agreements 26.8 — 26.8 — Forward currency contracts 0.6 — 0.6 — Total liabilities recorded at fair value $ 110.9 $ — $ 27.4 $ 83.5 Derivative financial instruments are classified within Level 2 because there is not an active market for each derivative contract. However, the inputs used to calculate the value of the instruments are obtained from active markets. The Company measures certain assets and liabilities at fair value with changes in fair value recognized in earnings. Fair value treatment may be elected either upon initial recognition of an eligible asset or liability or, for an existing asset or liability, if an event triggers a new basis of accounting. The Company did not elect to remeasure any of its existing financial assets or liabilities and did not elect the fair value option for any financial assets or liabilities which originated during the six months ended June 30, 2024, or the year ended December 31, 2023. The fair value of the Company's long-term fixed interest rate debt was $ 1,236.5 million and $ 883.3 million as of June 30, 2024, and December 31, 2023, respectively. The fair value was based on market and observable sources with similar maturity dates and classified as Level 2 within the fair value hierarchy. The carrying value of the Company's variable rate debt approximates its fair value at June 30, 2024, and December 31, 2023. Debt securities consist of investments in redeemable preferred stock. Debt securities are classified as either current or long-term investments based on their contractual maturities unless the Company intends to sell an investment within the next twelve months, in which case it is classified as current on the consolidated balance sheets. Debt securities are classified as available for sale and are carried at fair value. Contingent consideration recorded within other current and other long-term liabilities represents the estimated fair value of future payments to the former shareholders as part of certain acquisitions. The contingent consideration is primarily based on the applicable acquired company achieving annual revenue and gross margin targets in certain years as specified in the relevant purchase and sale agreement. The Company initially values the contingent consideration on the acquisition date by using a Monte Carlo simulation or an income approach method. The Monte Carlo method models future revenue and costs of goods sold projections and discounts the average results to present value. The income approach method involves calculating the earnout payment based on the forecasted cash flows, adjusting the future earnout payment for the risk of reaching the projected financials, and then discounting the future payments to present value by the counterparty risk. The counterparty risk considers the risk of the buyer having the cash to make the earnout payments and is commensurate with a cost of debt over an appropriate term. Changes in fair value subsequent to acquisition are recognized in “Acquisition-related expenses, net” included in Other Charges, net, in the Consolidated Statements of Income and Comprehensive Income. The following table sets forth the changes in contingent consideration liabilities (in millions): Balance at December 31, 2023 $ 12.3 Current period additions 13.4 Current period adjustments 1.6 Current period settlements ( 5.7 ) Foreign currency effect ( 0.3 ) Balance at June 30, 2024 $ 21.3 As part of the 2018 Mestrelab Research, S.L. (“Mestrelab”), 2022 PreOmics, 2023 Biognosys, 2023 Zontal, and 2023 MIRO acquisitions and certain other majority owned acquisitions, the Company entered into agreements with the noncontrolling interest holders that provide the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining ownerships for cash at contractually defined redemption values. These rights (embedded derivatives) can be adjusted upon certain events related to post combination employment services. As the options are tied to continued employment, the Company classified the hybrid instruments (noncontrolling interests with embedded derivatives) as long-term liabilities on the consolidated balance sheet. Subsequent to the acquisitions, the carrying value of the hybrid instruments are remeasured to fair value with changes recorded to stock-based compensation expense in proportion to the respective requisite service period vested. The Company classified the hybrid instruments as Level 3 in the fair value hierarchy. The following table sets forth the changes in hybrid instruments liability (in millions): Balance at December 31, 2023 $ 70.5 Acquisitions — Current period adjustments 2.2 Current period settlements ( 0.1 ) Foreign currency effect ( 2.0 ) Balance at June 30, 2024 $ 70.6

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	10. Derivative Instruments and Hedging Activities Interest Rate Risk The Company’s exposure to interest rate risk relates primarily to outstanding variable rate debt and adverse movements in the related market rates. Commodity Price Risk Management The Company has arrangements with certain customers under which it has a firm commitment to deliver copper-based superconductors at a fixed price. In order to minimize the volatility that fluctuations in the price of copper have on the Company’s sales of these commodities, the Company enters into commodity hedge contracts. As commodity contracts settle, gains (losses) as a result of changes in fair values are adjusted to the contracts with the customers through revenues. Foreign Exchange Rate Risk Management The Company had the following notional amounts outstanding under foreign exchange contracts, cross-currency interest rate swap agreements and long-term debt designated as net investment hedges and the respective fair value of the financial instruments recorded in the consolidated balance sheets as follows (in millions): June 30, 2024 December 31, 2023 Notional (in USD) Fair Value Notional (in USD) Fair Value Financial instruments designated as hedging instruments: Interest rate cross-currency swap agreements Other current assets $ 12.7 $ 12.0 Other assets 11.4 8.3 Other long-term liabilities ( 18.7 ) ( 26.8 ) $ 270.8 $ 5.4 $ 378.3 $ ( 6.5 ) Long-term debt Long-term debt 1,472.0 ( 27.5 ) 876.0 ( 85.3 ) Total financial instruments designated as hedging instruments $ 1,742.8 $ ( 22.1 ) $ 1,254.3 $ ( 91.8 ) Financial instruments not designated as hedging instruments: Forward currency contracts Other current assets $ 544.0 $ 2.5 $ 177.8 $ 1.3 Other current liabilities 268.6 ( 0.5 ) 311.7 ( 0.6 ) Embedded derivatives in purchase and delivery contracts Other current assets 5.1 0.1 25.6 1.2 Other current liabilities 4.3 — 0.1 — Fixed price commodity contracts Other current assets 3.4 0.5 8.4 0.3 Total financial instruments not designated as hedging instruments $ 825.4 $ 2.6 $ 523.6 $ 2.2 Total financial instruments $ 2,568.2 $ ( 19.5 ) $ 1,777.9 $ ( 89.6 ) As of June 30, 2024, the Company had several cross-currency interest rate swap agreements to hedge the variability in the movement of foreign currency exchange rates on portions of our Euro and Swiss Franc denominated net asset investments. These agreements qualify for hedge accounting and accordingly the changes in fair value of the derivative are recorded in other comprehensive income and remain in accumulated comprehensive income (loss) attributable to Bruker Corporation in shareholders’ equity until the sale or substantial liquidation of the foreign operation. The difference between the interest rate received and paid under the interest rate and cross-currency swap agreements is recorded in interest and other income (expense), net in the consolidated statements of income and comprehensive income. The Company presents the cross-currency swap periodic settlements in investing activities and the interest rate swap periodic settlements in operating activities in the statement of cash flows. In addition, the Company periodically enters into purchase and sales contracts denominated in currencies other than the functional currency of the Company’s subsidiaries that are party to the transaction. The Company accounts for these transactions separately valuing the “embedded derivative” component of these contracts. The contracts, denominated in currencies other than the functional currency of the transacting parties, amounted to approximately $ 9.4 million and $ 25.7 million for the purchase of products at June 30, 2024 and December 31, 2023, respectively. The Company records the changes in the fair value of these embedded derivatives in interest and other income (expense), net in the consolidated statements of income and comprehensive income. The following is a summary of the gain (loss) included in the consolidated statements of income and comprehensive income related to the financial instruments described above (in millions): Three Months Ended June 30, Six Months Ended June 30, Financial Statement Classification 2024 2023 2024 2023 Financial instruments not designated as hedging instruments Forward currency contracts Interest and other income (expense), net $ ( 7.1 ) $ 1.4 $ ( 5.1 ) $ 1.3 Embedded derivatives in purchase and delivery contracts Interest and other income (expense), net 0.2 0.4 ( 1.1 ) 0.7 ( 6.9 ) 1.8 ( 6.2 ) 2.0 Financial instruments designated as cash flow hedging instruments Interest rate swap agreements Interest and other income (expense), net $ 2.6 $ 2.6 $ 5.3 $ 4.9 Financial instruments designated as net investment hedging instruments Interest rate cross-currency swap agreements Interest and other income (expense), net 1.4 2.0 2.9 4.0 4.0 4.6 8.2 8.9 Total $ ( 2.9 ) $ 6.4 $ 2.0 $ 10.9 Three Months Ended June 30, Six Months Ended June 30, Financial Statement Classification 2024 2023 2024 2023 Financial instruments designated as cash flow hedging instruments Interest rate swap agreements Accumulated other comprehensive income, net of tax $ ( 0.9 ) $ 3.0 $ 0.5 $ ( 0.4 ) ( 0.9 ) 3.0 0.5 ( 0.4 ) Financial instruments designated as net investment hedging instruments Interest rate cross-currency swap agreements Accumulated other comprehensive income, net of tax $ ( 0.3 ) $ ( 7.1 ) $ 9.9 $ ( 8.3 ) Long-term debt Accumulated other comprehensive income, net of tax ( 6.3 ) ( 11.8 ) 44.2 ( 17.9 ) ( 6.6 ) ( 18.9 ) 54.1 ( 26.2 ) Total $ ( 7.5 ) $ ( 15.9 ) $ 54.6 $ ( 26.6 )

Provision for Income Taxes

Provision for Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Provision for Income Taxes	11. Provision for Income Taxes The Company accounts for income taxes using the asset and liability approach by recognizing deferred tax assets and liabilities for the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. The Company records a valuation allowance to reduce deferred tax assets to the amount that is more likely than not to be realized. In addition, the Company accounts for uncertain tax positions that have reached a minimum recognition threshold. The income tax provision for the three months ended June 30, 2024, and 2023 was $ 16.1 million and $ 19.9 million, respectively representing effective tax rates of 67.4 % and 25.7 % , respectively. The income tax provision for the six months ended June 30, 2024, and 2023 was $ 35.9 million and $ 49.8 million, respectively, representing effective tax rates of 37.6 % and 27.1 % , respectively. The increase in the Company's effective tax rate was primarily due to change in jurisdictional mix, and the impact of valuation allowance recorded on capital loss carryforwards related to the impairment charges on strategic investments. While many aspects of the application of Pillar 2 remain to be clarified, the Company does not expect Pillar 2 to materially impact its tax liability. The Company will continue to monitor developments in implementation as more countries enact the legislation. As of June 30, 2024, and December 31, 2023, the Company had gross unrecognized tax benefits, excluding penalties and interest, of approximately $ 69.4 million and $ 58.5 million, respectively, which, if recognized, would result in a reduction of the Company’s effective tax rate. The Company recognizes penalties and interest related to unrecognized tax benefits in the provision for income taxes. As of June 30, 2024, and December 31, 2023, approximately $ 4.3 million and $ 5.8 million, respectively, of accrued interest and penalties related to uncertain tax positions were included in other long-term liabilities on the Company’s unaudited condensed consolidated balance sheets. Penalties and interest adjustments of $( 3.4 ) million and $ 0.2 million were recorded in the provision for income taxes for unrecognized tax benefits during the three months ended June 30, 2024, and 2023 respectively. Penalties and interest adjustments of $( 2.2 ) million and $ 0.6 million were recorded in the provision for income taxes for unrecognized tax benefits during the six months ended June 30, 2024, and 2023, respectively. The Company files tax returns in the United States, which include federal, state and local jurisdictions, and many foreign jurisdictions with varying statutes of limitations. The Company considers Germany, the United States and Switzerland to be its significant tax jurisdictions. The majority of the Company’s earnings are derived in Germany and Switzerland. Accounting for the various federal and local taxing authorities, the statutory rates for 2024 are approximately 30.0 % and 20.0 % for Germany and Switzerland, respectively. The mix of earnings in those two jurisdictions resulted in an increase of approximately 4.5 % from the U.S. statutory rate of 21.0 % in the six months ended June 30, 2024.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	12. Earnings Per Share The following table sets forth the computation of basic and diluted weighted average common shares outstanding and net income per common share attributable to Bruker shareholders (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income attributable to Bruker Corporation $ 7.6 $ 57.1 $ 58.5 $ 133.6 Weighted average common shares outstanding: Weighted average common shares outstanding - basic 147.4 146.8 146.3 146.8 Effect of dilutive securities: Stock options and restricted stock units 0.6 0.9 0.7 0.8 Weighted average common shares outstanding - diluted 148.0 147.7 147.0 147.6 Net income per common share attributable to Bruker Corporation shareholders: Basic $ 0.05 $ 0.39 $ 0.40 $ 0.91 Diluted $ 0.05 $ 0.39 $ 0.40 $ 0.91 The following common share equivalents have been excluded from the computation of diluted weighted average common shares outstanding, as their effect would have been anti-dilutive (amounts in millions of shares): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options 0.2 0.2 0.2 0.2

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	13. Shareholders’ Equity Share Repurchase Program In May 2021, the Company’s Board of Directors approved a share repurchase program (the “2021 Repurchase Program”) authorizing the purchase of up to $ 500.0 million of the Company’s common stock over a two-year period, in amounts, at prices, and at such times as management deems appropriate, subject to market conditions, legal requirements and other considerations. In May 2023, the Company’s Board of Directors approved a share repurchase program (the “2023 Repurchase Program”) authorizing the purchase of up to $ 500.0 million of the Company’s common stock over a two-year period, in amounts, at prices, and at such times as management deems appropriate, subject to market conditions, legal requirements and other considerations. At June 30, 2024, $ 369.9 million remains available for future purchase under the 2023 Repurchase Program. During the three and six months ended June 30, 2024, the Company did no t purchase any shares under the 2023 Repurchase Program. During the three months ended June 30, 2023, the Company did no t purchase any shares under the 2021 Repurchase Program or 2023 Repurchase Program. During the six months ended June 30, 2023, the Company purchased a total of 315,318 shares at an aggregate cost of $ 22.2 million under the 2021 Repurchase Program. Authorization for the remaining $ 94.4 million on the 2021 Repurchase Program expired in May 2023 . In August 2022, the Inflation Reduction Act (“IRA”) was signed into law in the United States. The IRA introduced new tax provisions, including a 1.0 % excise tax on stock repurchases. The Company expects additional guidance and regulations to be issued in future periods and will continue to assess its potential impact on its business as further information becomes available. The estimated excise tax on our stock repurchases is not material and is recorded in other current liabilities and additional paid in capital. No additional accrual for estimated excise tax was recorded for the six months ended June 30, 2024. Public Offering In May 2024, the Company completed an underwritten public offering (the “Offering”) in which the Company issued and sold 6,000,000 shares of its common stock at a public offering price of $ 67.29 per share. The Company received net proceeds of approximately $ 403.0 million after deducting underwriting fees and other offering expenses. The Offering was made pursuant to an automatically effective registration statement on Form S-3 and accompanying prospectus filed with the SEC on May 29, 2024, and a final prospectus relating to the Offering filed with the SEC on May 31, 2024. Stock-Based Compensation The Company recorded stock-based compensation expense as follows in the unaudited condensed consolidated statements of income and comprehensive income (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Stock options $ 0.4 $ 0.4 $ 0.9 $ 0.8 Restricted stock units 4.4 3.8 8.6 7.5 Employee Stock Purchase Plan 0.3 0.2 0.5 0.4 Total stock-based compensation expense $ 5.1 $ 4.4 $ 10.0 $ 8.7 Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of product revenue $ 0.4 $ 0.4 $ 0.8 $ 0.7 Selling, general and administrative 4.1 3.5 8.0 7.1 Research and development 0.6 0.5 1.2 0.9 Total stock-based compensation expense $ 5.1 $ 4.4 $ 10.0 $ 8.7 In addition to the awards above, the Company recorded stock-based compensation expense within other charges, net of $ 1.7 million and $ 1.2 million in the three months ended June 30, 2024, and 2023, respectively, and $ 2.2 million and $ 3.4 million in the six months ended June 30, 2024 and 2023, respectively, related to the fair value changes of hybrid instruments associated with the option rights of certain minority shareholders of the Company’s majority owned acquisitions. At June 30, 2024, the Company expected to recognize pre-tax stock-based compensation expense of $ 2.7 million associated with outstanding stock option awards granted under the Company's stock plans over the weighted average remaining service period of 2.0 years. The Company also expects to recognize additional pre-tax stock-based compensation expense of $ 32.9 million associated with outstanding restricted stock units granted under the Company's 2016 Incentive Compensation Plan over the weighted average remaining service period of 2.3 yea rs.

Other Charges, Net

Other Charges, Net	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Other Charges, Net	14. Other Charges, Net The components of other charges, net were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Information technology transformation costs $ 1.9 $ 0.6 $ 2.7 $ 1.1 Restructuring charges 1.2 0.3 4.7 0.6 Acquisition-related expenses, net 17.5 2.9 21.6 5.8 Other 2.4 1.6 4.9 3.2 Other charges, net $ 23.0 $ 5.4 $ 33.9 $ 10.7 Restructuring Initiatives The following table sets forth the restructuring charges (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of revenues $ 4.9 $ 0.1 $ 8.6 $ 0.3 Other charges, net $ 1.2 0.3 4.7 0.6 Total $ 6.1 $ 0.4 $ 13.3 $ 0.9 The following table sets forth the changes in restructuring reserves (in millions): Total Severance Exit Costs Provisions Balance at December 31, 2023 $ 13.1 $ 9.6 $ 2.9 $ 0.6 Restructuring charges 13.3 4.5 3.3 5.5 Cash payments ( 14.4 ) ( 10.8 ) ( 3.6 ) — Other, non-cash adjustments and foreign currency effect ( 5.6 ) ( 0.1 ) — ( 5.5 ) Balance at June 30, 2024 $ 6.4 $ 3.2 $ 2.6 $ 0.6 In October 2023, the Company announced a restructuring plan associated with BCA (formerly PhenomeX), a component of the Nano reportable segment, to optimize costs and to facilitate integration efforts. The restructuring plan includes a reduction in headcount, consolidation of leased facilities, and a planned change in future product offerings. The restructuring plan is expected to be completed during 2024. In connection with the BCA restructuring plan, the Company recorded and accrued severance and termination charges of $ 14.9 million in the year ended December 31, 2023, and an additional charge of $ 2.6 million and $ 6.5 million in the three and six months ended June 30, 2024, respectively. The Company made payments of $ 3.7 and $ 10.7 million in the three and six months ended June 30, 2024, respectively. The remaining balance of accrued severance at June 30, 2024 is expected to be paid during the first half of 2025. As it relates to the consolidation of leased BCA facilities, the Company recorded an impairment charge against operating lease right of use assets of $ 0.3 and $ 1.5 million in the three and six months ended June 30, 2024, respectively. As of June 30, 2024, the Company does not expect any material impairment or termination charges in connection with the expected modification or termination of active operating leases. Due to delays in consolidating facilities, certain inventories that are expiring or have expired will no longer be usable for the manufacture of products. The cost of scrapped inventories was charged to product restructuring costs in the three and six months ended June 30, 2024. In April 2024, the Company announced a global restructuring program to reduce personnel costs affecting the BBIO, Nano and CALID Segments. The Company expects to incur additional restructuring charges of $ 7.2 million for this program through the remainder of 2024. In connection with this restructuring plan, the Company closed one of its R&D facilities and recorded an impairment charge of $ 0.4 million for one of its technology intangible assets for the three and six months ended June 30, 2024. Restructuring programs relating to reductions in workforce recorded by the BSI Nano, BSI Biospin, BSI CALID and Corporate segments in 2024 in 2023 were not material.

Interest and Other Income (Expe

Interest and Other Income (Expense), Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Interest and Other Income (Expense), Net	15. Interest and Other Income (Expense), Net The components of interest and other income (expenses), net were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest income $ 2.4 $ 1.9 $ 5.0 $ 3.3 Interest expense ( 15.7 ) ( 3.9 ) ( 20.7 ) ( 8.1 ) Impairment of minority investments ( 20.2 ) ( 11.4 ) ( 20.2 ) ( 18.3 ) Exchange gains (losses) on foreign currency transactions 9.0 ( 2.2 ) 17.9 ( 5.5 ) Pension components 0.3 — 0.6 ( 0.1 ) Other income (expense) — 6.9 — 3.9 Interest and other income (expense), net $ ( 24.2 ) $ ( 8.7 ) $ ( 17.4 ) $ ( 24.8 ) For the six months ended June 30, 2024, the Company recognized $ 17.9 million in exchange gains on foreign currency transactions. This foreign exchange gain includes a realized gain recognized on a forward contract taken to minimize risks from fluctuations in the Euro currency related to the closing of our acquisition of ELITechGroup in the quarter ended June 30, 2024, the purchase price of which was denominated in Euro. In the three and six months ended June 30, 2024, the Company recorded a realized foreign exchange gain of $ 10.4 million in interest and other income (expense), net, related to this forward contract.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies In accordance with Accounting Standards Codification (“ASC”) Topic 450, Contingencies, the Company accrues anticipated costs of settlement, damages or other costs to the extent specific losses are probable and reasonably estimable. These accruals are adjusted periodically as assessments change or additional information becomes available. Litigation and Related Contingencies Lawsuits, claims and proceedings of a nature considered normal to its businesses may be pending from time to time against the Company. Loss contingency provisions are recorded if the potential loss from any claim, asserted or unasserted, or legal proceeding related to patents, products and other matters, is considered probable and the amount can be reasonably estimated, or a range of loss can be determined. These accruals represent management’s best estimate of probable loss. Disclosure is provided when a loss is considered probable but the loss is not reasonably estimable and when a material loss is reasonably possible but not probable. The outcome of any of these proceedings cannot be accurately predicted, and the ultimate resolution of any of these existing matters, net of amounts accrued in the Company's balance sheet, may have a material adverse effect on the Company's business or financial condition. Third parties might allege that the Company or its collaborators are infringing their patent rights or that the Company is otherwise violating their intellectual property rights. An adverse outcome in any of these proceedings could result in one of more of the following and have material impact on our business or consolidated results of operations and financial position: (i) loss of patent protection; (ii) inability to continue to engage in certain activities; (iii) payment of significant damages, royalties, penalties and/or license fees to third parties; and, (iv) with respect to products acquired through acquisitions accounted for as business combinations, potentially significant intangible asset impairment charges. In September 2019, Luxendo GmbH (“Luxendo”), a subsidiary of Bruker Corporation, was sued in Germany by Carl Zeiss Microscopy GmbH, a subsidiary of Carl Zeiss AG (“Zeiss”), for infringement of a registered German utility model. After the utility model was canceled by the German Patent and Trademark Office in 2021, Zeiss withdrew its infringement action at the end of 2022 and the proceedings were terminated. However, a parallel European patent application, a family member of the utility model, is still pending in the European Patent Office (“EPO”). The Company is closely monitoring progress in the granting procedure and does not believe that a grant is imminent. The Company is presently unable to predict the EPO's final decision on the patent application. In connection with the acquisition of NanoString, the Company assumed certain of its liabilities, including the liabilities associated with the litigation matters related to NanoString’s GeoMx Digital Spatial Profiler products (the “GeoMx Matter”) and CosMx Spatial Molecular Imager products (the “CosMx Matter”). In the GeoMx Matter, in November 2023, a jury verdict was entered in favor of the plaintiffs, 10x Genomics, Inc. (“10x”) and Prognosys Biosciences, Inc. (collectively, the “Plaintiffs”) awarding approximately $ 31.6 million in damages. NanoString filed post-trial motions asking the Court to overturn the jury’s verdict and/or amend the judgment. The Plaintiffs asked the Court in their post-trial motions to enhance the damages award and for injunctive relief. The Court has not yet ruled on the post-trial motions. The CosMx Matter complaint concerns claims by 10x and the President and Fellows of Harvard College (“Harvard”) of patent infringement with respect to CosMx Spatial Molecular Imager products as well as counterclaims against 10x and Harvard for antitrust and unfair competition violations. The CosMx Matter complaint seeks unspecified damages and injunctive relief. At this stage of the CosMx Matter, the Company is unable to estimate a range of loss, if any, that could result should there be an adverse final decision. In addition, the Company is subject to regulation by national, state and local government agencies in the United States and other countries in which the Company operates. From time to time, the Company is the subject of governmental investigations often involving regulatory, marketing and other business practices. These governmental investigations may result in the commencement of civil and criminal proceedings, fines, penalties and administrative remedies which could have a material adverse effect on the Company's financial position, results of operations and/or liquidity. As of June 30, 2024, provisions for contingencies related to the matters described above have been recorded. While the Company believes it has meritorious defenses for the matters described above, the ultimate resolution of, or increase in accruals for, one or more of these matters in any reporting period may have a material adverse effect on the Company's results of operations and cash flows for that period. Effective January 1, 2024, the Company is self-insured for health care claims for eligible participating U.S. employees subject to certain deductibles and limitations. The Company determines its liability for claims incurred but not reported for the insurance liabilities on an actuarial basis and as of June 30, 2024, the Company's provision of $ 2.0 million was recorded for these health care insurance liabilities in other accrued liabilities.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Business Segment Information	17. Business Segment Information The Company has four reportable segments, BSI BioSpin, BSI CALID, BSI Nano and BEST, as discussed in Note 1 to the unaudited condensed consolidated financial statements. See Note 3 for revenue by reportable segment. Operating income by reportable segment are presented below (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating (loss) income: BSI BioSpin $ 37.3 $ 23.8 $ 68.5 $ 71.2 BSI CALID 35.5 44.0 76.6 101.6 BSI Nano ( 3.6 ) 31.3 7.2 60.7 BEST 10.5 11.1 18.6 19.1 Corporate, eliminations and other (a) ( 31.6 ) ( 24.0 ) ( 58.0 ) ( 43.7 ) Total operating income $ 48.1 $ 86.2 $ 112.9 $ 208.9 (a) Represents corporate costs and eliminations not allocated to the reportable segments. Unallocated costs include general and administrative expenses not directly incurred by the segments such as professional fees incurred for the quarterly reviews and annual audit of the consolidated financial statements, personnel costs of corporate accounting, finance, legal and IT resources, and other expense items. Total assets by reportable segment are as follows (in millions): June 30, December 31, Assets: BSI BioSpin, BSI CALID, BSI Nano & Corporate $ 5,764.8 $ 4,110.6 BEST $ 179.4 186.0 Eliminations and other (a) $ ( 41.6 ) ( 46.7 ) Total assets $ 5,902.6 $ 4,249.9 (a) Assets not allocated to the reportable segments and eliminations of intercompany transactions. The Company is unable, without unreasonable effort or expense, to disclose the amount of total assets held by each of its BSI BioSpin, BSI CALID and BSI Nano Segments as well as the Corporate function and further, the Company’s chief operating decision maker does not receive any asset information by operating segment.

Description of Business (Polici

Description of Business (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Multi-Currency Notional Cash Pooling Policy	Multi-Currency Notional Cash Pooling Policy Effective during the quarter ended June 30, 2024, the Company entered into a master netting arrangement with a third-party financial institution whereby certain subsidiaries participate in a notional cash pooling arrangement to manage global liquidity requirements. As part of the master netting arrangement, the participating subsidiaries combine their cash balances in pooling accounts at the same financial institution with the ability to offset bank overdrafts of one participant against positive cash account balances held by another participant. Under the terms of the master netting arrangement, the financial institution has the right, ability, and intent to offset a positive balance in one account against an overdrawn amount in another account. Amounts in each of the accounts are unencumbered and unrestricted with respect to use. As such, the net positive cash balance related to this pooling arrangement is included in cash, and cash equivalents in the consolidated balance sheets. The notional cash pool runs daily on a net positive cash basis and is not intended to be used as a source of funding. In the event there is a one-day net overdraft due to the timing of bank postings, the overdraft would represent a short-term loan from the bank and would be classified as current debt on the consolidated balance sheets and financing cash flows in the consolidated statement of cash flows. As of June 30, 2024, the Company was not in a net overdraft position with respect to the notional cash pooling arrangement.
Revenue Recognition Policy	Revenue Recognition Policy Revenues from instrument rental and reagent agreements provide customers with the right to use the Company’s instruments upon entering into multi-year agreements to purchase annual minimum amounts of reagents. These types of agreements include an embedded lease relating to the customer’s right to use the Company’s instruments over the period of the agreement. The agreement transaction price is allocated between the instrument and the reagents based on their relative standalone selling prices. When collectability of payments due is probable, reagent rental programs that effectively transfer control of instruments to customers are classified as sales-type leases and instrument revenue and cost of revenue are recognized upon the transfer of control to the customer which is often in advance of billings to the customer. The Company’s right to future consideration from reagent purchases under the agreement is allocated to instrument revenue and is recorded as a lease receivable within other current and long-term assets. Revenues from instrument rental and reagent agreements where collectability of payments due is not probable or that do not transfer control of the instruments to customers are classified as operating leases and instrument revenue and costs of revenue are recognized over the term of the agreement. The cost of the instrument is capitalized as a long-term asset and depreciated to cost of revenues. Lease revenues from these agreements are presented in product revenue in the consolidated statement of income.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to the same risks and uncertainties as disclosed in its Annual Report on Form 10-K filed with the SEC on February 29, 2024, however, as of January 1, 2024, the Company is subject to new risks related to its self-funded health insurance. Effective January 1, 2024, the Company is self-insured for health care claims for eligible participating U.S. employees subject to certain deductibles and limitations. The Company determines its liability for claims incurred but not reported for insurance liabilities on an actuarial basis. Since there are many estimates and assumptions involved in recording insurance liabilities, differences between actual future events and prior estimates and assumptions, could result in materially different amounts of expense and result in adjustments to these liabilities and materially different amounts of expense, which could harm our business and adversely affect our results of operations and financial condition.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements requires the Company to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis the Company evaluates estimates, judgments and methodologies. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the global supply chain interruptions, higher energy costs and shortages, increased costs of and delivery times for critical raw materials, the global economy, including inflation and the threat of recession, and geopolitical instability will directly or indirectly impact future business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee cost related amounts, will depend on future developments that are highly uncertain, including as a result of new developments concerning global supply chain and various global conflicts. The Company has made estimates of the impact of these disruptions within the financial statements and there may be changes to those estimates in future periods. Actual results may differ from management’s estimates if these results differ from historical experience.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of revenue disaggregated by Group, end customer geographical location and timing of recognition	The following table present the Company’s revenues by Segment (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue by Segment: BSI BioSpin $ 217.5 $ 162.0 $ 400.3 $ 342.3 BSI CALID 265.6 227.2 493.5 463.9 BSI Nano 252.5 225.1 492.9 434.7 BEST 69.1 72.7 142.2 134.9 Eliminations (a) ( 4.0 ) ( 5.1 ) ( 6.5 ) ( 8.6 ) Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2 (a) Represents product and service revenue between reportable segments. Revenue for the Company recognized at a point in time versus over time is as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue recognized at a point in time $ 686.5 $ 586.7 $ 1,295.0 $ 1,185.4 Revenue recognized over time 114.2 95.2 227.4 181.8 Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2 The following table presents the Company’s revenue by End Customer Geography (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue by End Customer Geography: United States $ 243.7 $ 179.3 $ 438.5 $ 354.4 Germany 83.5 61.5 150.3 124.1 Rest of Europe 192.3 161.2 370.4 321.0 China 120.4 116.5 236.1 224.1 Rest of Asia Pacific 106.2 106.8 213.2 239.4 Other 54.6 56.6 113.9 104.2 Total revenue $ 800.7 $ 681.9 $ 1,522.4 $ 1,367.2

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 420.6 $ 371.2 Work-in-process 383.8 314.9 Finished goods 265.6 183.9 Demonstration units 105.9 98.3 Total Inventories $ 1,175.9 $ 968.3

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Schedule of other current assets	Other current assets consisted of the following (in millions): June 30, December 31, Unbilled and notes receivable $ 99.8 $ 83.9 Income and other taxes receivable 87.3 45.9 Prepaid expenses 41.6 26.7 Deposits with vendors 32.1 28.8 Interest rate cross-currency swap agreements 12.7 12.0 Other assets 26.7 18.3 Other current assets $ 300.2 $ 215.6

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Acquisition [Line Items]
Schedule of Pro Forma Financial Statements	The unaudited pro forma financial information was as follows (in millions): Three months ended Three months ended Before Adjustments Pro forma After Adjustments Before Adjustments Pro forma After Adjustments Revenue $ 815.3 $ — $ 815.3 $ 770.8 $ — $ 770.8 Net (loss) income $ 5.0 $ ( 17.6 ) $ ( 12.6 ) $ 4.6 $ ( 29.9 ) $ ( 25.3 ) Six months ended Six months ended Before Adjustments Pro forma After Adjustments Before Adjustments Pro forma After Adjustments Revenue $ 1,581.7 $ — $ 1,581.7 $ 1,539.6 $ — $ 1,539.6 Net (loss) income $ 47.2 $ ( 15.1 ) $ 32.1 $ 27.1 $ ( 55.8 ) $ ( 28.7 )
2024 Acquisitions
Business Acquisition [Line Items]
Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions	The following table reflects the consideration transferred and the respective reportable segment for certain of the 2024 acquisitions (in millions) NanoString Technologies, Inc. ELITechGroup Chemspeed Technologies AG Other Total Segment BSI Nano BSI CALID BSI BBIO Various Consideration Transferred: Cash paid $ 392.6 $ 951.9 $ 175.4 $ 106.2 $ 1,626.1 Cash acquired ( 0.5 ) ( 43.4 ) ( 0.6 ) ( 7.6 ) ( 52.1 ) Fair value of contingent consideration — — — 13.4 13.4 Working capital and other closing adjustments — 23.5 — 2.1 25.6 Total consideration transferred, net of cash acquired $ 392.1 $ 932.0 $ 174.8 $ 114.1 $ 1,613.0 Allocation of Consideration Transferred: Accounts receivable $ 16.8 $ 30.6 $ 7.0 $ 2.9 $ 57.3 Inventories 51.5 31.6 48.7 29.4 161.2 Other current assets 8.9 15.7 1.4 1.1 27.1 Property, plant and equipment 31.0 36.2 1.8 0.8 69.8 Other assets 20.3 41.3 17.3 3.4 82.3 Intangible assets: Technology 70.0 193.3 27.9 33.6 324.8 Customer relationships 71.0 236.3 51.5 5.7 364.5 Backlog — 0.5 9.4 4.9 14.8 Trade name 20.0 12.3 4.8 2.2 39.3 Goodwill 187.8 500.8 123.5 64.0 876.1 Deferred taxes (net) — ( 99.8 ) ( 14.7 ) 2.3 ( 112.2 ) Liabilities assumed ( 85.2 ) ( 66.8 ) ( 103.8 ) ( 36.2 ) ( 292.0 ) Total consideration allocated $ 392.1 $ 932.0 $ 174.8 $ 114.1 $ 1,613.0
Other 2024 Acquisitions
Business Acquisition [Line Items]
Schedule of Consideration Transferred and the Respective Reportable Segment for Each Acquisition	The following table reflects the consideration transferred and the respective reportable segment for the acquisition (in millions): Name of Acquisition Date Acquired Segment Total Cash Phasefocus Holdings Limited March 1, 2024 BSI Nano $ 6.3 $ 6.4 Nanophoton Corporation February 5, 2024 BSI CALID $ 13.3 $ 10.8 Spectral Instruments Imaging LLC February 1, 2024 BSI BBIO $ 29.3 $ 29.0 Nion, LLC January 2, 2024 BSI Nano $ 42.9 $ 37.4 Tornado Spectral Systems, Inc. January 1, 2024 BSI CALID $ 22.3 $ 22.6 $ 114.1 $ 106.2 2024 Minority and Equity-method Investments In the quarter ended March 31, 2024, the Company also completed a minority investment. The investment is accounted for under the measurement alternative, at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment carrying value of this minority investment at, June 30, 2024 remains at cost. The following table reflects the consideration transferred for the investments (in millions): Name Financial Date Acquired Total Cash Other minority investments Other long-term assets February 22, 2024 $ 10.0 $ 10.0 $ 10.0 $ 10.0
2023 Acquisitions
Business Acquisition [Line Items]
Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions	The following table reflects the consideration transferred and the reportable segment for these acquisitions (in millions): Biognosys, AG Zontal, Inc. Segment BSI CALID BSI BioSpin Consideration Transferred: Cash paid $ 73.6 $ 14.8 Cash acquired ( 9.5 ) ( 0.3 ) Holdback 0.2 — Fair value of hybrid financial instruments - founders — 18.5 Fair value of redeemable noncontrolling interest - other shareholders 2.5 — Fair value of contingent consideration — 0.5 Total consideration transferred $ 66.8 $ 33.5 Allocation of Consideration Transferred: Accounts receivable $ 3.6 $ 0.7 Inventories 0.4 — Other current assets 0.9 0.3 Property, plant and equipment 8.0 — Other assets 4.3 2.5 Intangible assets: Technology 10.2 5.8 Customer relationships 13.8 4.0 Trade name 2.7 1.1 Backlog 0.8 0.2 Goodwill 47.5 25.9 Liabilities assumed ( 25.4 ) (a) ( 7.0 ) Total consideration allocated $ 66.8 $ 33.5 (a) This amount includes assumed liability for employee awards of $ 6.3 million on acquisition date and was settled in the period ended March 31, 2023.
Other 2023 Acquisitions
Business Acquisition [Line Items]
Schedule of Consideration Transferred and the Respective Reportable Segment for Each Acquisition	The following table reflects the consideration transferred and the respective reportable segment for these acquisitions (in millions): Name of Acquisition Date Acquired Segment Total Cash Acquifer Imaging GmbH and Deltabyte GmbH January 4, 2023 BSI NANO $ 7.6 $ 7.6 Other majority owned acquisitions Various BSI CALID 19.1 12.2 $ 26.7 $ 19.8 2023 Minority and Equity-method Investments During the six months ended June 30, 2023, the Company also completed several minority investments. These investments are accounted for under the alternative measurement, and as such, the investment values also represent the carrying value at June 30, 2023. The following table reflects the consideration transferred and the respective reportable segment for the investments (in millions): Name Acquisition / Financial Date Acquired Segment Total Cash Other Investments Investment Other long-term assets Various Various $ 9.2 $ 9.2 $ 9.2 $ 9.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The following table sets forth the changes in the carrying amount of goodwill (in millions): Balance at December 31, 2023 $ 582.6 Current period additions/adjustments 876.1 Foreign currency effect ( 14.9 ) Balance at June 30, 2024 $ 1,443.8
Summary of intangible assets	The following is a summary of intangible assets (in millions): June 30, 2024 December 31, 2023 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Existing technology and related patents $ 742.0 $ ( 264.0 ) $ 478.0 $ 428.3 $ ( 250.4 ) $ 177.9 Customer relationships 586.7 ( 106.5 ) $ 480.2 227.4 ( 93.5 ) 133.9 Trade names 66.9 ( 12.8 ) $ 54.1 28.4 ( 10.1 ) 18.3 Other 16.7 ( 4.7 ) $ 12.0 2.2 ( 1.8 ) 0.4 Intangible assets $ 1,412.3 $ ( 388.0 ) $ 1,024.3 $ 686.3 $ ( 355.8 ) $ 330.5

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Components of Debt Obligations	The Company’s debt obligations consist of the following (in millions): June 30, December 31, CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2027 $ 83.5 $ — CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2029 83.5 — CHF notes (in U.S. Dollars) under the 2024 Term Loan Agreement due 2031 167.0 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2034 55.7 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2036 218.2 — CHF notes (in U.S. Dollars) under the 2024 Note Purchase Agreement due 2039 205.9 — EUR notes (in U.S. Dollars) under the 2021 Note Purchase Agreement due 2031 160.7 165.8 CHF notes (in U.S. Dollars) under the 2019 Note Purchase Agreement due 2029 330.6 353.3 CHF notes (in U.S. Dollars) under the 2021 Note Purchase Agreement due 2031 333.9 356.9 CHF revolving loan (in U.S. Dollars) under the 2024 Revolving Credit Agreement 222.6 — U.S. Dollar notes under the 2019 Term Loan Agreement, annual payments of $ 15.0 270.8 278.3 U.S. Dollar notes under the 2012 Note Purchase Agreement due 2024 — 100.0 Unamortized debt issuance costs ( 3.4 ) ( 1.3 ) Other loans 11.0 7.6 Total notes and loans outstanding 2,140.0 1,260.6 Finance lease obligations 18.4 20.9 Total debt 2,158.4 1,281.5 Current portion of long-term debt and finance lease obligations ( 26.4 ) ( 121.2 ) Total long-term debt, less current portion $ 2,132.0 $ 1,160.3
Summary of Maximum Commitments and Net Amounts Available Under the 2024 Credit Agreement and Other Lines of Credit	The following is a summary of the maximum commitments and the net amounts available to the Company under the 2024 Revolving Credit Agreement and other lines of credit with various financial institutions located primarily in Germany and Switzerland that are unsecured and typically due upon demand with interest payable monthly, at June 30, 2024 (in millions): Weighted Total Amount Outstanding Outstanding Total 2024 Amended and Restated Credit 2.14 % $ 900.0 $ 222.6 $ 0.3 $ 677.1 Bank guarantees and working capital line varies 156.2 — 156.2 — Total revolving lines of credit $ 1,056.2 $ 222.6 $ 156.5 $ 677.1

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of financial instruments measured at fair value on a recurring basis	The following tables set forth the Company’s financial instruments measured at fair value on a recurring basis and present them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement (in millions): June 30, 2024 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 16.2 $ — $ 16.2 $ — Interest rate and cross-currency swap agreements 24.1 — 24.1 — Forward currency contracts 2.5 — 2.5 — Embedded derivatives in purchase and delivery contracts 0.1 — 0.1 — Fixed price commodity contracts 0.5 — 0.5 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 44.6 $ — $ 43.4 $ 1.2 Liabilities: Contingent consideration $ 21.3 $ — $ — $ 21.3 Hybrid instruments liability 70.6 — — 70.6 Liability awards 0.4 — — 0.4 Interest rate and cross-currency swap agreements 18.7 — 18.7 — Forward currency contracts 0.5 — 0.5 — Total liabilities recorded at fair value $ 111.5 $ — $ 19.2 $ 92.3 December 31, 2023 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 226.9 $ — $ 226.9 $ — Interest rate and cross-currency swap agreements 20.3 — 20.3 — Forward currency contracts 1.3 — 1.3 — Embedded derivatives in purchase and delivery contracts 1.2 — 1.2 — Fixed price commodity contracts 0.3 — 0.3 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 251.2 $ — $ 250.0 $ 1.2 Liabilities: Contingent consideration $ 12.3 $ — $ — $ 12.3 Hybrid instruments liability 70.5 — — 70.5 Liability awards 0.7 — — 0.7 Interest rate and cross-currency swap agreements 26.8 — 26.8 — Forward currency contracts 0.6 — 0.6 — Total liabilities recorded at fair value $ 110.9 $ — $ 27.4 $ 83.5
Schedule of changes in contingent consideration liabilities	The following table sets forth the changes in contingent consideration liabilities (in millions): Balance at December 31, 2023 $ 12.3 Current period additions 13.4 Current period adjustments 1.6 Current period settlements ( 5.7 ) Foreign currency effect ( 0.3 ) Balance at June 30, 2024 $ 21.3
Schedule of changes in hybrid instrument liability	The following table sets forth the changes in hybrid instruments liability (in millions): Balance at December 31, 2023 $ 70.5 Acquisitions — Current period adjustments 2.2 Current period settlements ( 0.1 ) Foreign currency effect ( 2.0 ) Balance at June 30, 2024 $ 70.6

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value and balance sheet location of derivative instruments	The Company had the following notional amounts outstanding under foreign exchange contracts, cross-currency interest rate swap agreements and long-term debt designated as net investment hedges and the respective fair value of the financial instruments recorded in the consolidated balance sheets as follows (in millions): June 30, 2024 December 31, 2023 Notional (in USD) Fair Value Notional (in USD) Fair Value Financial instruments designated as hedging instruments: Interest rate cross-currency swap agreements Other current assets $ 12.7 $ 12.0 Other assets 11.4 8.3 Other long-term liabilities ( 18.7 ) ( 26.8 ) $ 270.8 $ 5.4 $ 378.3 $ ( 6.5 ) Long-term debt Long-term debt 1,472.0 ( 27.5 ) 876.0 ( 85.3 ) Total financial instruments designated as hedging instruments $ 1,742.8 $ ( 22.1 ) $ 1,254.3 $ ( 91.8 ) Financial instruments not designated as hedging instruments: Forward currency contracts Other current assets $ 544.0 $ 2.5 $ 177.8 $ 1.3 Other current liabilities 268.6 ( 0.5 ) 311.7 ( 0.6 ) Embedded derivatives in purchase and delivery contracts Other current assets 5.1 0.1 25.6 1.2 Other current liabilities 4.3 — 0.1 — Fixed price commodity contracts Other current assets 3.4 0.5 8.4 0.3 Total financial instruments not designated as hedging instruments $ 825.4 $ 2.6 $ 523.6 $ 2.2 Total financial instruments $ 2,568.2 $ ( 19.5 ) $ 1,777.9 $ ( 89.6 ) As of June 30, 2024, the Company had several cross-currency interest rate swap agreements to hedge the variability in the movement of foreign currency exchange rates on portions of our Euro and Swiss Franc denominated net asset investments. These agreements qualify for hedge accounting and accordingly the changes in fair value of the derivative are recorded in other comprehensive income and remain in accumulated comprehensive income (loss) attributable to Bruker Corporation in shareholders’ equity until the sale or substantial liquidation of the foreign operation. The difference between the interest rate received and paid under the interest rate and cross-currency swap agreements is recorded in interest and other income (expense), net in the consolidated statements of income and comprehensive income. The Company presents the cross-currency swap periodic settlements in investing activities and the interest rate swap periodic settlements in operating activities in the statement of cash flows.
Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments	The following is a summary of the gain (loss) included in the consolidated statements of income and comprehensive income related to the financial instruments described above (in millions): Three Months Ended June 30, Six Months Ended June 30, Financial Statement Classification 2024 2023 2024 2023 Financial instruments not designated as hedging instruments Forward currency contracts Interest and other income (expense), net $ ( 7.1 ) $ 1.4 $ ( 5.1 ) $ 1.3 Embedded derivatives in purchase and delivery contracts Interest and other income (expense), net 0.2 0.4 ( 1.1 ) 0.7 ( 6.9 ) 1.8 ( 6.2 ) 2.0 Financial instruments designated as cash flow hedging instruments Interest rate swap agreements Interest and other income (expense), net $ 2.6 $ 2.6 $ 5.3 $ 4.9 Financial instruments designated as net investment hedging instruments Interest rate cross-currency swap agreements Interest and other income (expense), net 1.4 2.0 2.9 4.0 4.0 4.6 8.2 8.9 Total $ ( 2.9 ) $ 6.4 $ 2.0 $ 10.9 Three Months Ended June 30, Six Months Ended June 30, Financial Statement Classification 2024 2023 2024 2023 Financial instruments designated as cash flow hedging instruments Interest rate swap agreements Accumulated other comprehensive income, net of tax $ ( 0.9 ) $ 3.0 $ 0.5 $ ( 0.4 ) ( 0.9 ) 3.0 0.5 ( 0.4 ) Financial instruments designated as net investment hedging instruments Interest rate cross-currency swap agreements Accumulated other comprehensive income, net of tax $ ( 0.3 ) $ ( 7.1 ) $ 9.9 $ ( 8.3 ) Long-term debt Accumulated other comprehensive income, net of tax ( 6.3 ) ( 11.8 ) 44.2 ( 17.9 ) ( 6.6 ) ( 18.9 ) 54.1 ( 26.2 ) Total $ ( 7.5 ) $ ( 15.9 ) $ 54.6 $ ( 26.6 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Computation of basic and diluted weighted average common shares outstanding and net income per common share	The following table sets forth the computation of basic and diluted weighted average common shares outstanding and net income per common share attributable to Bruker shareholders (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income attributable to Bruker Corporation $ 7.6 $ 57.1 $ 58.5 $ 133.6 Weighted average common shares outstanding: Weighted average common shares outstanding - basic 147.4 146.8 146.3 146.8 Effect of dilutive securities: Stock options and restricted stock units 0.6 0.9 0.7 0.8 Weighted average common shares outstanding - diluted 148.0 147.7 147.0 147.6 Net income per common share attributable to Bruker Corporation shareholders: Basic $ 0.05 $ 0.39 $ 0.40 $ 0.91 Diluted $ 0.05 $ 0.39 $ 0.40 $ 0.91
Schedule of common share equivalents have been excluded from the computation of diluted weighted-average common shares outstanding, as their effect would have been anti-dilutive	The following common share equivalents have been excluded from the computation of diluted weighted average common shares outstanding, as their effect would have been anti-dilutive (amounts in millions of shares): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options 0.2 0.2 0.2 0.2

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of the impact of stock-based compensation expense	The Company recorded stock-based compensation expense as follows in the unaudited condensed consolidated statements of income and comprehensive income (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Stock options $ 0.4 $ 0.4 $ 0.9 $ 0.8 Restricted stock units 4.4 3.8 8.6 7.5 Employee Stock Purchase Plan 0.3 0.2 0.5 0.4 Total stock-based compensation expense $ 5.1 $ 4.4 $ 10.0 $ 8.7 Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of product revenue $ 0.4 $ 0.4 $ 0.8 $ 0.7 Selling, general and administrative 4.1 3.5 8.0 7.1 Research and development 0.6 0.5 1.2 0.9 Total stock-based compensation expense $ 5.1 $ 4.4 $ 10.0 $ 8.7

Other Charges, Net (Tables)

Other Charges, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of components of other charges, net	The components of other charges, net were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Information technology transformation costs $ 1.9 $ 0.6 $ 2.7 $ 1.1 Restructuring charges 1.2 0.3 4.7 0.6 Acquisition-related expenses, net 17.5 2.9 21.6 5.8 Other 2.4 1.6 4.9 3.2 Other charges, net $ 23.0 $ 5.4 $ 33.9 $ 10.7
Summary of restructuring charges	The following table sets forth the restructuring charges (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of revenues $ 4.9 $ 0.1 $ 8.6 $ 0.3 Other charges, net $ 1.2 0.3 4.7 0.6 Total $ 6.1 $ 0.4 $ 13.3 $ 0.9
Schedule of changes in restructuring reserves	The following table sets forth the changes in restructuring reserves (in millions): Total Severance Exit Costs Provisions Balance at December 31, 2023 $ 13.1 $ 9.6 $ 2.9 $ 0.6 Restructuring charges 13.3 4.5 3.3 5.5 Cash payments ( 14.4 ) ( 10.8 ) ( 3.6 ) — Other, non-cash adjustments and foreign currency effect ( 5.6 ) ( 0.1 ) — ( 5.5 ) Balance at June 30, 2024 $ 6.4 $ 3.2 $ 2.6 $ 0.6

Interest and Other Income (Ex_2

Interest and Other Income (Expense), Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Components of interest and other income (expense), net	The components of interest and other income (expenses), net were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest income $ 2.4 $ 1.9 $ 5.0 $ 3.3 Interest expense ( 15.7 ) ( 3.9 ) ( 20.7 ) ( 8.1 ) Impairment of minority investments ( 20.2 ) ( 11.4 ) ( 20.2 ) ( 18.3 ) Exchange gains (losses) on foreign currency transactions 9.0 ( 2.2 ) 17.9 ( 5.5 ) Pension components 0.3 — 0.6 ( 0.1 ) Other income (expense) — 6.9 — 3.9 Interest and other income (expense), net $ ( 24.2 ) $ ( 8.7 ) $ ( 17.4 ) $ ( 24.8 )

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenue, Operating Income and Total Assets by Reportable Segment	Operating income by reportable segment are presented below (in millions): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating (loss) income: BSI BioSpin $ 37.3 $ 23.8 $ 68.5 $ 71.2 BSI CALID 35.5 44.0 76.6 101.6 BSI Nano ( 3.6 ) 31.3 7.2 60.7 BEST 10.5 11.1 18.6 19.1 Corporate, eliminations and other (a) ( 31.6 ) ( 24.0 ) ( 58.0 ) ( 43.7 ) Total operating income $ 48.1 $ 86.2 $ 112.9 $ 208.9 (a) Represents corporate costs and eliminations not allocated to the reportable segments. Unallocated costs include general and administrative expenses not directly incurred by the segments such as professional fees incurred for the quarterly reviews and annual audit of the consolidated financial statements, personnel costs of corporate accounting, finance, legal and IT resources, and other expense items. Total assets by reportable segment are as follows (in millions): June 30, December 31, Assets: BSI BioSpin, BSI CALID, BSI Nano & Corporate $ 5,764.8 $ 4,110.6 BEST $ 179.4 186.0 Eliminations and other (a) $ ( 41.6 ) ( 46.7 ) Total assets $ 5,902.6 $ 4,249.9 (a) Assets not allocated to the reportable segments and eliminations of intercompany transactions.

Description of Business (Detail

Description of Business (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

Revenue - Disaggregation (Detai

Revenue - Disaggregation (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues disaggregated by Group
Total revenue		$ 800.7	$ 681.9	$ 1,522.4	$ 1,367.2
Revenue recognized at a point in time
Revenues disaggregated by Group
Total revenue		686.5	586.7	1,295	1,185.4
Revenue recognized over time
Revenues disaggregated by Group
Total revenue		114.2	95.2	227.4	181.8
United States
Revenues disaggregated by Group
Total revenue		243.7	179.3	438.5	354.4
Germany
Revenues disaggregated by Group
Total revenue		83.5	61.5	150.3	124.1
Rest of Europe
Revenues disaggregated by Group
Total revenue		192.3	161.2	370.4	321
CHINA
Revenues disaggregated by Group
Total revenue		120.4	116.5	236.1	224.1
Rest of Asia Pacific
Revenues disaggregated by Group
Total revenue		106.2	106.8	213.2	239.4
Other
Revenues disaggregated by Group
Total revenue		54.6	56.6	113.9	104.2
Operating segments | Bruker BioSpin
Revenues disaggregated by Group
Total revenue		217.5	162	400.3	342.3
Operating segments | Bruker CALID
Revenues disaggregated by Group
Total revenue		265.6	227.2	493.5	463.9
Operating segments | Bruker NANO
Revenues disaggregated by Group
Total revenue		252.5	225.1	492.9	434.7
Operating segments | BEST
Revenues disaggregated by Group
Total revenue		69.1	72.7	142.2	134.9
Eliminations
Revenues disaggregated by Group
Total revenue	[1]	$ (4)	$ (5.1)	$ (6.5)	$ (8.6)
[1] Represents product and service revenue between reportable segments.

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Amount of remaining performance obligations	$ 2,257.7

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Contract assets	$ 85.8	$ 103.6
Contract liabilities	491.4	$ 595.8
Revenue recognition during the period	$ 227.7

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 420.6	$ 371.2
Work-in-process	383.8	314.9
Finished goods	265.6	183.9
Demonstration units	105.9	98.3
Total Inventories	1,175.9	968.3
Inventory-in-transit	$ 57.1	$ 48.6

Other Current Assets - Schedule

Other Current Assets - Schedule of other current assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Assets [Abstract]
Unbilled and notes receivable	$ 99.8	$ 83.9
Income and other taxes receivable	87.3	45.9
Prepaid expenses	41.6	26.7
Deposits with vendors	32.1	28.8
Interest rate cross-currency swap agreements	12.7	12
Other assets	26.7	18.3
Other current assets	$ 300.2	$ 215.6

Acquisitions - Schedule of Comp

Acquisitions - Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions (Details) € in Millions, SFr in Millions, $ in Millions

6 Months Ended

May 06, 2024 USD ($)

May 02, 2024 USD ($)

Mar. 06, 2024 USD ($)

Mar. 06, 2024 CHF (SFr)

Feb. 01, 2024 USD ($)

Jan. 02, 2024 USD ($)

May 04, 2023 USD ($)

May 04, 2023 EUR (€)

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Dec. 31, 2023 USD ($)

Consideration Transferred:

Cash paid

$ 1,626.1

Cash acquired

(52.1)

Fair value of contingent consideration

13.4

Working capital adjustment and other closing adjustments

25.6

Total consideration transferred, net of cash acquired

114.1

$ 26.7

Allocation of Consideration Transferred:

Accounts receivable

57.3

Inventories

161.2

Other current assets

27.1

Property, plant and equipment

69.8

Other assets

82.3

Goodwill

1,443.8

$ 582.6

Deferred taxes (net)

(112.2)

Liabilities assumed

(292)

Total consideration allocated

1,613

Operating segments

Consideration Transferred:

Total consideration transferred, net of cash acquired

1,613

Allocation of Consideration Transferred:

Goodwill

876.1

Technology

Allocation of Consideration Transferred:

Intangible assets

324.8

Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

364.5

Backlog

Allocation of Consideration Transferred:

Intangible assets

14.8

Trade Name

Allocation of Consideration Transferred:

Intangible assets

39.3

Biognyosys, AG | Bruker CALID

Consideration Transferred:

Cash paid

73.6

Cash acquired

(9.5)

Holdback

0.2

Fair value of contingent consideration

0

Fair value of hybrid financial instruments - founders

0

Fair value of redeemable noncontrolling interest - other shareholders

2.5

Total consideration transferred, net of cash acquired

66.8

Allocation of Consideration Transferred:

Accounts receivable

3.6

Inventories

0.4

Other current assets

0.9

Property, plant and equipment

8

Other assets

4.3

Goodwill

47.5

Liabilities assumed

(25.4)

Total consideration allocated

66.8

Biognyosys, AG | Bruker CALID | Technology

Allocation of Consideration Transferred:

Intangible assets

10.2

Biognyosys, AG | Bruker CALID | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

13.8

Biognyosys, AG | Bruker CALID | Backlog

Allocation of Consideration Transferred:

Intangible assets

0.8

Biognyosys, AG | Bruker CALID | Trade Name

Allocation of Consideration Transferred:

Intangible assets

2.7

Zontal Inc

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 14.8

€ 13.4

Zontal Inc | Bruker CALID

Consideration Transferred:

Cash paid

14.8

Cash acquired

(0.3)

Holdback

0

Fair value of contingent consideration

0.5

Fair value of hybrid financial instruments - founders

18.5

Fair value of redeemable noncontrolling interest - other shareholders

0

Total consideration transferred, net of cash acquired

33.5

Allocation of Consideration Transferred:

Accounts receivable

0.7

Inventories

0

Other current assets

0.3

Property, plant and equipment

0

Other assets

2.5

Goodwill

25.9

Liabilities assumed

[1]

(7)

Total consideration allocated

33.5

Zontal Inc | Bruker CALID | Technology

Allocation of Consideration Transferred:

Intangible assets

5.8

Zontal Inc | Bruker CALID | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

4

Zontal Inc | Bruker CALID | Backlog

Allocation of Consideration Transferred:

Intangible assets

0.2

Zontal Inc | Bruker CALID | Trade Name

Allocation of Consideration Transferred:

Intangible assets

$ 1.1

Chemspeed Technologies AG

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 175.4

SFr 154.7

Chemspeed Technologies AG | BSI BBIO

Consideration Transferred:

Cash paid

175.4

Cash acquired

(0.6)

Fair value of contingent consideration

0

Working capital adjustment and other closing adjustments

0

Total consideration transferred, net of cash acquired

174.8

Allocation of Consideration Transferred:

Accounts receivable

7

Inventories

48.7

Other current assets

1.4

Property, plant and equipment

1.8

Other assets

17.3

Goodwill

123.5

Deferred taxes (net)

(14.7)

Liabilities assumed

(103.8)

Total consideration allocated

174.8

Chemspeed Technologies AG | BSI BBIO | Technology

Allocation of Consideration Transferred:

Intangible assets

27.9

Chemspeed Technologies AG | BSI BBIO | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

51.5

Chemspeed Technologies AG | BSI BBIO | Backlog

Allocation of Consideration Transferred:

Intangible assets

9.4

Chemspeed Technologies AG | BSI BBIO | Trade Name

Allocation of Consideration Transferred:

Intangible assets

4.8

Spectral Instruments Imaging LLC

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 29

29.3

Nanostring Technologies Inc

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 392.6

Nanostring Technologies Inc | BSI NANO

Consideration Transferred:

Cash paid

392.6

Cash acquired

(0.5)

Fair value of contingent consideration

0

Working capital adjustment and other closing adjustments

0

Total consideration transferred, net of cash acquired

392.1

Allocation of Consideration Transferred:

Accounts receivable

16.8

Inventories

51.5

Other current assets

8.9

Property, plant and equipment

31

Other assets

20.3

Goodwill

187.8

Deferred taxes (net)

0

Liabilities assumed

(85.2)

Total consideration allocated

392.1

Nanostring Technologies Inc | BSI NANO | Technology

Allocation of Consideration Transferred:

Intangible assets

70

Nanostring Technologies Inc | BSI NANO | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

71

Nanostring Technologies Inc | BSI NANO | Backlog

Allocation of Consideration Transferred:

Intangible assets

0

Nanostring Technologies Inc | BSI NANO | Trade Name

Allocation of Consideration Transferred:

Intangible assets

20

ELITechGroup

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 932

ELITechGroup | BSI CALID

Consideration Transferred:

Cash paid

951.9

Cash acquired

(43.4)

Fair value of contingent consideration

0

Working capital adjustment and other closing adjustments

23.5

Total consideration transferred, net of cash acquired

932

Allocation of Consideration Transferred:

Accounts receivable

30.6

Inventories

31.6

Other current assets

15.7

Property, plant and equipment

36.2

Other assets

41.3

Goodwill

500.8

Deferred taxes (net)

(99.8)

Liabilities assumed

(66.8)

Total consideration allocated

932

ELITechGroup | BSI CALID | Technology

Allocation of Consideration Transferred:

Intangible assets

193.3

ELITechGroup | BSI CALID | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

236.3

ELITechGroup | BSI CALID | Backlog

Allocation of Consideration Transferred:

Intangible assets

0.5

ELITechGroup | BSI CALID | Trade Name

Allocation of Consideration Transferred:

Intangible assets

12.3

Nion LLC

Consideration Transferred:

Total consideration transferred, net of cash acquired

$ 37.4

42.9

Other | Various

Consideration Transferred:

Cash paid

106.2

Cash acquired

(7.6)

Fair value of contingent consideration

13.4

Working capital adjustment and other closing adjustments

2.1

Total consideration transferred, net of cash acquired

114.1

Allocation of Consideration Transferred:

Accounts receivable

2.9

Inventories

29.4

Other current assets

1.1

Property, plant and equipment

0.8

Other assets

3.4

Goodwill

64

Deferred taxes (net)

2.3

Liabilities assumed

(36.2)

Total consideration allocated

114.1

Other | Various | Technology

Allocation of Consideration Transferred:

Intangible assets

33.6

Other | Various | Customer Relationships

Allocation of Consideration Transferred:

Intangible assets

5.7

Other | Various | Backlog

Allocation of Consideration Transferred:

Intangible assets

4.9

Other | Various | Trade Name

Allocation of Consideration Transferred:

Intangible assets

$ 2.2

[1] (a) This amount includes assumed liability for employee awards of $ 6.3 million on acquisition date and was settled in the period ended March 31, 2023.

Acquisitions - Schedule of Co_2

Acquisitions - Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions (Parenthetical) (Details) SFr in Millions, $ in Millions			6 Months Ended
	Jan. 03, 2023 USD ($)	Jan. 03, 2023 CHF (SFr)	Jun. 30, 2023 USD ($)
Biognosys AG [Member]
Business Acquisition [Line Items]
Assumed liability for employee awards	$ 6.3	SFr 5.9	$ 6.3

Acquisitions - NanoString Techn

Acquisitions - NanoString Technologies, Inc. (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	May 06, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Acquisitions
Consideration				$ 114.1	$ 26.7
Total revenue		$ 800.7	$ 681.9	1,522.4	1,367.2
Net Income (Loss)		7.6	57.1	58.5	133.6
Acquisition-related expenses, net		$ 17.5	$ 2.9	21.6	$ 5.8
Nanostring Technologies Inc
Acquisitions
Consideration	$ 392.6
Total revenue				17.7
Net Income (Loss)				$ 13.3
Acquisition-related expenses, net	$ 7.2

Acquisitions - ELITechGroup - (

Acquisitions - ELITechGroup - (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	May 02, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Cash consideration				$ 114.1	$ 26.7
Total revenue		$ 800.7	$ 681.9	1,522.4	1,367.2
Net Income (Loss)		7.6	57.1	58.5	133.6
Acquisition-related expenses, net		$ 17.5	$ 2.9	$ 21.6	$ 5.8
ELITechGroup
Business Acquisition [Line Items]
Ownership percentage acquired	100%
Cash consideration	$ 932
Purchase price	951.9
Amortization period for intangible assets acquired				4 years
Total revenue	27.5
Net Income (Loss)	7.7
Acquisition-related expenses, net	$ 5.5
ELITechGroup | Trade Names [Member]
Business Acquisition [Line Items]
Amortization period for intangible assets acquired				6 years
ELITechGroup | Maximum | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired				14 years
ELITechGroup | Maximum | Customer Relationships
Business Acquisition [Line Items]
Amortization period for intangible assets acquired				15 years
ELITechGroup | Minimum | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired				10 years
ELITechGroup | Minimum | Customer Relationships
Business Acquisition [Line Items]
Amortization period for intangible assets acquired				5 years

Acquisitions - Chemspeed Techno

Acquisitions - Chemspeed Technologies, AG. (Details) SFr in Millions, $ in Millions			3 Months Ended		6 Months Ended
	Mar. 06, 2024 USD ($)	Mar. 06, 2024 CHF (SFr)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Total revenue			$ 800.7	$ 681.9	$ 1,522.4	$ 1,367.2
Consideration					114.1	26.7
Net Income (Loss)			$ 7.6	$ 57.1	58.5	$ 133.6
Chemspeed Technologies AG
Business Acquisition [Line Items]
Ownership percentage acquired	100%	100%
Total revenue					19.2
Consideration	$ 175.4	SFr 154.7
Net Income (Loss)					$ 4.6
Chemspeed Technologies AG | Developed technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired					7 years
Chemspeed Technologies AG | Customer Relationships
Business Acquisition [Line Items]
Amortization period for intangible assets acquired					15 years
Chemspeed Technologies AG | Trade Names [Member]
Business Acquisition [Line Items]
Amortization period for intangible assets acquired					10 years

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Financial Statements - (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Total revenue	$ 800.7	$ 681.9	$ 1,522.4	$ 1,367.2
Net (loss) income	7.6	57.1	58.5	133.6
Before Adjustments [Member]
Business Acquisition [Line Items]
Total revenue	815.3	770.8	1,581.7	1,539.6
Net (loss) income	5	4.6	47.2	27.1
Pro Forma Adjustments [Member]
Business Acquisition [Line Items]
Total revenue	0	0	0	0
Net (loss) income	17.6	29.9	15.1	55.8
After Adjustments [Member]
Business Acquisition [Line Items]
Total revenue	815.3	770.8	1,581.7	1,539.6
Net (loss) income	$ 12.6	$ 25.3	$ 32.1	$ 28.7

Acquisitions - Supplemental Pro

Acquisitions - Supplemental Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Combinations [Abstract]
Net increase in amortization and depreciation expense of tangible and intangible assets	$ 7.6	$ 14.9		$ 25.8
Net decrease in interest expense		$ (15)	$ (10)

Acquisitions - Other 2024 Acqui

Acquisitions - Other 2024 Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Impairment write-off	$ 20.2	$ 11.4	$ 20.2	$ 18.3
Other 2024 Acquisitions | Maximum | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired			11 years
Other 2024 Acquisitions | Minimum | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired			7 years

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration Transferred and the Respective Reportable Segment for Each Acquisition (Details) - USD ($) $ in Millions			6 Months Ended
	Feb. 01, 2024	Jan. 02, 2024	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Cash consideration			$ 114.1	$ 26.7
Cash paid for acquisitions, net of cash acquired			106.2	19.8
Investment In Businesses
Business Acquisition [Line Items]
Cash consideration			10	9.2
Cash paid for acquisitions, net of cash acquired			10	9.2
Acquifer Imaging GmbH and Deltabyte GmbH
Business Acquisition [Line Items]
Cash consideration				7.6
Cash paid for acquisitions, net of cash acquired				7.6
Other Majority Owned Acquisitions
Business Acquisition [Line Items]
Cash consideration				19.1
Cash paid for acquisitions, net of cash acquired				12.2
Other Investment
Business Acquisition [Line Items]
Cash consideration			10	9.2
Cash paid for acquisitions, net of cash acquired			10	$ 9.2
Phasefocus Holdings Limited
Business Acquisition [Line Items]
Cash consideration			6.3
Cash paid for acquisitions, net of cash acquired			6.4
Nanophoton Corporation
Business Acquisition [Line Items]
Cash consideration			13.3
Cash paid for acquisitions, net of cash acquired			10.8
Spectral Instruments Imaging LLC
Business Acquisition [Line Items]
Cash consideration	$ 29		29.3
Cash paid for acquisitions, net of cash acquired			29
Nion LLC
Business Acquisition [Line Items]
Cash consideration		$ 37.4	42.9
Cash paid for acquisitions, net of cash acquired			37.4
Tornado Spectral Systems, Inc.
Business Acquisition [Line Items]
Cash consideration			22.3
Cash paid for acquisitions, net of cash acquired			$ 22.6

Acquisitions - Spectral Instrum

Acquisitions - Spectral Instruments Imaging, LLC (Details) - USD ($) $ in Millions		6 Months Ended
	Feb. 01, 2024	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Consideration		$ 114.1	$ 26.7
Spectral Instruments Imaging LLC [Member]
Business Acquisition [Line Items]
Ownership percentage acquired	100%
Consideration	$ 29	$ 29.3
Additional consideration	10
Additional purchase consideration	$ 0.9
Spectral Instruments Imaging LLC [Member] | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired		6 years
Spectral Instruments Imaging LLC [Member] | Customer Relationships
Business Acquisition [Line Items]
Amortization period for intangible assets acquired		14 years

Acquisitions - Nion, LLC (Detai

Acquisitions - Nion, LLC (Details) - USD ($) $ in Millions		6 Months Ended
	Jan. 02, 2024	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Consideration		$ 114.1	$ 26.7
Nion LLC
Business Acquisition [Line Items]
Ownership percentage acquired	100%
Consideration	$ 37.4	$ 42.9
Additional consideration	$ 23
Nion LLC | Technology
Business Acquisition [Line Items]
Amortization period for intangible assets acquired		7 years
Nion LLC | Trade Name
Business Acquisition [Line Items]
Amortization period for intangible assets acquired		7 years
Nion LLC | Customer Relationships
Business Acquisition [Line Items]
Amortization period for intangible assets acquired		15 years

Acquisitions - Biognosys, AG (D

Acquisitions - Biognosys, AG (Details) SFr in Millions, $ in Millions			6 Months Ended
	Jan. 03, 2023 USD ($)	Jan. 03, 2023 CHF (SFr)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Cash consideration			$ 114.1	$ 26.7
Biognosys, AG
Business Acquisition [Line Items]
Ownership percentage acquired	97.15%	97.15%
Cash consideration | SFr		SFr 75
Purchase Price	$ 80.1
Assumed liability for employee awards	$ 6.3	SFr 5.9		$ 6.3
Remaining ownership percentage under options that can be exercised after 2023	2.85%	2.85%

Acquisitions - Zontal Inc (Deta

Acquisitions - Zontal Inc (Details) € in Millions, $ in Millions			6 Months Ended
	May 04, 2023 USD ($)	May 04, 2023 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Consideration			$ 114.1	$ 26.7
Zontal Inc
Business Acquisition [Line Items]
Ownership percentage acquired	60%
Consideration	$ 14.8	€ 13.4
Additional consideration	$ 14.4
Remaining ownership percentage under options that can be exercised after acquisition period	40%	40%

Acquisitions - 2023 Minority an

Acquisitions - 2023 Minority and Equity-method investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Gain (Loss) on Disposition of Other Financial Assets				$ 6.8
Impairment write-off	$ 20.2	$ 11.4	$ 20.2	$ 18.3

Acquisitions - Subsequent Event

Acquisitions - Subsequent Event (Details) € in Millions, $ in Millions			6 Months Ended
	Jul. 31, 2024 USD ($)	Jul. 31, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Cash consideration			$ 114.1	$ 26.7
NovaAliX | Subsequent Event
Business Acquisition [Line Items]
Cash consideration	$ 34.1	€ 31.5

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill
Balance at the beginning of the period	$ 582.6
Current period additions/adjustments	876.1
Foreign currency effect	(14.9)
Balance at the end of the period	$ 1,443.8

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Intangible assets
Gross Carrying Amount, intangible assets	$ 1,412.3		$ 1,412.3		$ 686.3
Accumulated Amortization, intangible assets	(388)		(388)		(355.8)
Net Carrying Amount, intangible assets	1,024.3		1,024.3		330.5
Amortization expense related to intangible assets subject to amortization	25.1	$ 11.2	41.3	$ 21.9
Existing technology and related patents
Intangible assets
Gross Carrying Amount, intangible assets	742		742		428.3
Accumulated Amortization, intangible assets	(264)		(264)		(250.4)
Net Carrying Amount, intangible assets	478		478		177.9
Customer Relationships
Intangible assets
Gross Carrying Amount, intangible assets	586.7		586.7		227.4
Accumulated Amortization, intangible assets	(106.5)		(106.5)		(93.5)
Net Carrying Amount, intangible assets	480.2		480.2		133.9
Trade Name
Intangible assets
Gross Carrying Amount, intangible assets	66.9		66.9		28.4
Accumulated Amortization, intangible assets	(12.8)		(12.8)		(10.1)
Net Carrying Amount, intangible assets	54.1		54.1		18.3
Other
Intangible assets
Gross Carrying Amount, intangible assets	16.7		16.7		2.2
Accumulated Amortization, intangible assets	(4.7)		(4.7)		(1.8)
Net Carrying Amount, intangible assets	$ 12		$ 12		$ 0.4

Debt - Components (Details)

Debt - Components (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt
Unamortized debt issuance costs	$ (3.4)	$ (1.3)
Total notes and loans outstanding	2,140	1,260.6
Total debt	2,158.4	1,281.5
Current portion of long-term debt and finance lease obligations	(26.4)	(121.2)
Total long-term debt, less current portion	2,132	1,160.3
Switzerland Francs Notes Under The 2024 Term Loan Agreement Due 2027
Debt
Debt, before unamortized debt issuance costs	83.5
Switzerland Francs notes under the 2024 term loan agreement due 2029
Debt
Debt, before unamortized debt issuance costs	83.5
Switzerland Francs notes under the 2024 term loan agreement due 2031
Debt
Debt, before unamortized debt issuance costs	167
Switzerland Francs notes under the 2024 notes purchase agreement due 2034
Debt
Debt, before unamortized debt issuance costs	55.7
Switzerland Francs Notes under the 2024 Note Purchase Agreement Due 2036
Debt
Debt, before unamortized debt issuance costs	218.2
Switzerland Francs Notes under the 2024 Note Purchase Agreement Due 2039
Debt
Debt, before unamortized debt issuance costs	205.9
Euro Notes Under The 2021 Purchase Agreement Due 2031
Debt
Debt, before unamortized debt issuance costs	160.7	165.8
2019 Note Purchase Agreement Due 2029
Debt
Debt, before unamortized debt issuance costs	330.6	353.3
Switzerland Francs Notes Under The 2021 Notes Purchase Agreement Due 2031
Debt
Debt, before unamortized debt issuance costs	333.9	356.9
2024 Revolving Credit Agreement
Debt
Debt, before unamortized debt issuance costs	222.6
2019 Term Loan Agreement With Balloon Payment Due 2026
Debt
Debt, before unamortized debt issuance costs	270.8	278.3
2012 Note Purchase Agreement Due 2024
Debt
Debt, before unamortized debt issuance costs		100
Other loan
Debt
Debt, before unamortized debt issuance costs	11	7.6
Capital lease obligations and other loans
Debt
Total debt	$ 18.4	$ 20.9

Debt - Components (Parenthetica

Debt - Components (Parenthetical) (Details)	Jun. 30, 2024 $ / shares
2019 Term Loan Agreement With Balloon Payment Due 2026
Debt Instrument [Line Items]
Annual payment per share amount	$ 15

Debt - Credit Agreements (Detai

Debt - Credit Agreements (Details) SFr in Millions, $ in Millions

6 Months Ended

Jun. 25, 2024 USD ($)

Jun. 25, 2024 CHF (SFr)

Jun. 05, 2024 USD ($)

Apr. 15, 2024 USD ($)

Apr. 15, 2024 CHF (SFr)

Mar. 29, 2024 CHF (SFr)

Feb. 01, 2024 USD ($)

Jan. 18, 2024 USD ($)

Jan. 15, 2024 USD ($)

Jan. 15, 2024 CHF (SFr)

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Jul. 02, 2024 USD ($)

Jul. 02, 2024 CHF (SFr)

May 03, 2024 USD ($)

Apr. 29, 2024 USD ($)

Apr. 29, 2024 CHF (SFr)

Feb. 01, 2024 CHF (SFr)

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 1,056.2

Proceeds from revolving line of credit

$ 269

SFr 230

$ 1,073.3

$ 0

Three year term loan

Debt Instrument [Line Items]

Maximum borrowing capacity | SFr

SFr 150

Five year term loan

Debt Instrument [Line Items]

Maximum borrowing capacity | SFr

150

Seven year term loan

Debt Instrument [Line Items]

Maximum borrowing capacity | SFr

SFr 150

Debt Instrument, face amount

$ 165

SFr 150

Seven year term loan | SARON | Minimum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

1.25%

Seven year term loan | SARON | Maximum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

1.75%

Three- and five-year term loan

Debt Instrument [Line Items]

Debt Instrument, face amount

82

75

Three- and five-year term loan | Subsequent Event

Debt Instrument [Line Items]

Debt Instrument, face amount

$ 83

SFr 75

Three- and five-year term loan | SARON | Minimum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

1%

Three- and five-year term loan | SARON | Maximum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

1.50%

Term loan agreements

Debt Instrument [Line Items]

Maximum borrowing capacity

330

SFr 300

Interest rate terms

the loans are required to bear interest determined by reference to an Alternate Base Rate (“ABR Loans”), then such ABR Loans shall bear interest equal to (i) the federal funds effective rate plus ½ of 1%, (ii) the prime rate announced by Bank of America, N.A., and (iii) 1%, plus a margin ranging from 0.100% to 0.200%, based on the Company’s leverage ratio.

Term loan agreements | Subsequent Event

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 166

SFr 150

Term loan agreements | Prime rate

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

1%

Debt Instrument, description of variable rate basis

prime rate

Term loan agreements | Prime rate | Minimum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

0.10%

Term loan agreements | Prime rate | Maximum

Debt Instrument [Line Items]

Interest rate added to base rate (as a percent)

0.20%

Term loan agreements | SARON

Debt Instrument [Line Items]

Debt Instrument, description of variable rate basis

SARON

Term loan agreements | Federal Funds

Debt Instrument [Line Items]

Debt Instrument, description of variable rate basis

the federal funds effective rate plus ½ of 1%

Notes purchase agreement two zero two four

Debt Instrument [Line Items]

Interest rate terms

April 15 and October 15 of each year

Debt Instrument, face amount

$ 472

SFr 431

Debt Instrument, frequency of periodic payment

semi-annually on April 15 and October 15 of each year, commencing April 15, 2024, or October 15, 2024

Amended and restated credit agreement

Debt Instrument [Line Items]

Maximum stated leverage ratio

3.5

Minimum interest coverage ratio required

2.5

Adjusted leverage ratio

4

Adjusted leverage ratio.

0.25%

Amended and restated credit agreement | Uncommitted incremental facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 400

Amended and restated credit agreement | Minimum

Debt Instrument [Line Items]

Debt instrument issued principal

600

Amended and restated credit agreement | Maximum

Debt Instrument [Line Items]

Debt instrument issued principal

900

2024 Amended and Restated Revolving Credit Agreement

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 370

$ 434

Repayments of debt

$ 168

SFr 150

$ 420

$ 252

SFr 230

Series 2012A Senior Note Tranche D

Debt Instrument [Line Items]

Repayments of debt

$ 100

Debt - Revolving Loan Arrangeme

Debt - Revolving Loan Arrangements (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Revolving lines of credit
Total Amount Committed by Lenders	$ 1,056.2
Outstanding Borrowings	222.6
Outstanding Letters of Credit	156.5
Total Amount Available	$ 677.1
Amended and Restated Credit Agreement | Domestic Line Of Credit
Revolving lines of credit
Weighted Average Interest Rate (as a percent)	2.14%
Total Amount Committed by Lenders	$ 900
Outstanding Borrowings	222.6
Outstanding Letters of Credit	0.3
Total Amount Available	677.1
Bank guarantees and working capital line
Revolving lines of credit
Total Amount Committed by Lenders	156.2
Outstanding Letters of Credit	$ 156.2

Debt - Currency Swaps (Details)

Debt - Currency Swaps (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt
Notional Amount	$ 2,568.2	$ 1,777.9

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Liabilities:
Forward currency contracts	$ 0
Long-term fixed interest rate debt	1,236.5	$ 883.3
Recurring basis
Assets:
Time deposits and money market funds	16.2	226.9
Interest rate and cross currency swap agreements	24.1	20.3
Forward currency contracts	2.5	1.3
Embedded derivatives in purchase and delivery contracts	0.1	1.2
Fixed price commodity contracts	0.5	0.3
Debt securities available for sale	1.2	1.2
Total assets recorded at fair value	44.6	251.2
Liabilities:
Contingent consideration	21.3	12.3
Hybrid instruments liability	70.6	70.5
Liability awards	0.4	0.7
Interest rate and cross currency swap agreements	$ 18.7	$ 26.8
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Forward currency contracts	$ 0.5	$ 0.6
Total liabilities recorded at fair value	111.5	110.9
Recurring basis | Quoted Prices in Active Markets Available (Level 1)
Assets:
Time deposits and money market funds	0	0
Total assets recorded at fair value	0	0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Time deposits and money market funds	16.2	226.9
Interest rate and cross currency swap agreements	24.1	20.3
Forward currency contracts	2.5	1.3
Embedded derivatives in purchase and delivery contracts	0.1	1.2
Fixed price commodity contracts	0.5	0.3
Total assets recorded at fair value	43.4	250
Liabilities:
Interest rate and cross currency swap agreements	$ 18.7	$ 26.8
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Forward currency contracts	$ 0.5	$ 0.6
Total liabilities recorded at fair value	19.2	27.4
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Debt securities available for sale	1.2	1.2
Total assets recorded at fair value	1.2	1.2
Liabilities:
Contingent consideration	21.3	12.3
Hybrid instruments liability	70.6	70.5
Liability awards	0.4	0.7
Total liabilities recorded at fair value	$ 92.3	$ 83.5

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Contingent Consideration and Hybrid Instrument Liability (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Contingent consideration
Changes in contingent consideration liabilities
Balance at December 31, 2023	$ 12.3
Current period additions/Acquisitions	13.4
Current period adjustments	1.6
Current period settlements	(5.7)
Foreign currency effect	(0.3)
Balance at June 30, 2024	21.3
Hybrid instrument
Changes in contingent consideration liabilities
Balance at December 31, 2023	70.5
Current period additions/Acquisitions	0
Current period adjustments	2.2
Current period settlements	(0.1)
Foreign currency effect	(2)
Balance at June 30, 2024	$ 70.6

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Additional Information) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term fixed interest rate debt	$ 1,236.5	$ 883.3

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Risk Management (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Embedded derivatives in purchase and delivery contracts
Embedded derivatives in purchase and delivery contracts
Notional amount of derivative purchase contracts	$ 9.4	$ 25.7

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	$ (19.5)	$ (89.6)
Derivative, Notional Amount	2,568.2	1,777.9
Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	5.4	(6.5)
Derivative Asset, Notional Amount	270.8	378.3
Designated as hedging instrument
Derivative instruments and hedging activities
Derivative Liability	$ (18.7)	$ (26.8)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Derivative Assets (Liabilities)	$ (22.1)	$ (91.8)
Derivative Asset, Notional Amount	1,742.8	1,254.3
Designated as hedging instrument | Other current assets
Derivative instruments and hedging activities
Derivative Asset	$ 12.7	$ 12
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Designated as hedging instrument | Other assets
Derivative instruments and hedging activities
Derivative Asset	$ 11.4	$ 8.3
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Designated as hedging instrument | Long-term debt
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	$ (27.5)	$ (85.3)
Derivative Asset, Notional Amount	1,472	876
Not designated as hedging instruments
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	2.6	2.2
Derivative, Notional Amount	825.4	523.6
Not designated as hedging instruments | Forward currency contract
Derivative instruments and hedging activities
Derivative Asset	2.5	1.3
Derivative Liability	$ (0.5)	$ (0.6)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Derivative Asset, Notional Amount	$ 544	$ 177.8
Derivative Liability, Notional Amount	$ 268.6	$ 311.7
Not designated as hedging instruments | Forward currency contract | Other current assets
Derivative instruments and hedging activities
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Not designated as hedging instruments | Embedded derivatives in purchase and delivery contracts
Derivative instruments and hedging activities
Derivative Asset	$ 0.1	$ 1.2
Derivative Liability	$ 0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Derivative Asset, Notional Amount	$ 5.1	$ 25.6
Derivative Liability, Notional Amount	$ 4.3	$ 0.1
Not designated as hedging instruments | Embedded derivatives in purchase and delivery contracts | Other current assets
Derivative instruments and hedging activities
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Not designated as hedging instruments | Fixed price commodity contracts
Derivative instruments and hedging activities
Derivative Asset	$ 0.5	$ 0.3
Derivative Asset, Notional Amount	$ 3.4	$ 8.4
Not designated as hedging instruments | Fixed price commodity contracts | Other current assets
Derivative instruments and hedging activities
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Income and Comprehensive Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash Flow Hedging
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ 4	$ 4.6	$ 8.2	$ 8.9
Not designated as hedging instruments
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(6.9)	1.8	(6.2)	2
Not designated as hedging instruments | Forward currency contract
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(7.1)	1.4	(5.1)	1.3
Not designated as hedging instruments | Embedded derivatives in purchase and delivery contracts
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ 0.2	$ 0.4	$ (1.1)	$ 0.7
Not designated as hedging instruments | Interest and other income (expense), net | Forward currency contract
Derivative instruments and hedging activities
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net
Not designated as hedging instruments | Interest and other income (expense), net | Embedded derivatives in purchase and delivery contracts
Derivative instruments and hedging activities
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net
Designated as hedging instrument
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ (7.5)	$ (15.9)	$ 54.6	$ (26.6)
Designated as hedging instrument | Cash Flow Hedging
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(6.6)	(18.9)	54.1	(26.2)
Designated as hedging instrument | Cash Flow Hedging | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	2.6	2.6	5.3	4.9
Designated as hedging instrument | Cash Flow Hedging | Accumulated other comprehensive income | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ (0.9)	$ 3	$ 0.5	$ (0.4)
Designated as hedging instrument | Cash Flow Hedging | Interest and other income (expense), net | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net
Designated as hedging instrument | Net Investment Hedging
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ (2.9)	$ 6.4	$ 2	$ 10.9
Designated as hedging instrument | Net Investment Hedging | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	1.4	2	2.9	4
Designated as hedging instrument | Net Investment Hedging | Long-term debt
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(6.3)	(11.8)	44.2	(17.9)
Designated as hedging instrument | Net Investment Hedging | Accumulated other comprehensive income
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(0.9)	3	0.5	(0.4)
Designated as hedging instrument | Net Investment Hedging | Accumulated other comprehensive income | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ (0.3)	$ (7.1)	$ 9.9	$ (8.3)
Designated as hedging instrument | Net Investment Hedging | Interest and other income (expense), net | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net	Interest and other income (expense), net
Designated as hedging instrument | Net Investment Hedging | Interest and other income (expense), net | Long-term debt
Derivative instruments and hedging activities
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total Comprehensive income	Total Comprehensive income	Total Comprehensive income	Total Comprehensive income

Provision for Income Taxes (Det

Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Provision for Income Taxes
Income tax expense (benefit)	$ 16.1	$ 19.9	$ 35.9	$ 49.8
Effective tax rates (as a percent)	67.40%	25.70%	37.60%	27.10%
Unrecognized tax benefits, excluding penalties and interest	$ 69.4		$ 69.4		$ 58.5
Accrued interest and penalties related to uncertain tax positions	4.3		4.3		$ 5.8
Penalties and interest (benefit) expense adjustments relating to unrecognized tax benefits	$ (3.4)	$ 0.2	$ (2.2)	$ 0.6
Statutory tax rate (as a percent)			21%
Change in tax rate - foreign jurisdictions (as a percent)			4.50%
Germany
Provision for Income Taxes
Statutory tax rate (as a percent)			30%
Switzerland
Provision for Income Taxes
Statutory tax rate (as a percent)			20%

Earnings Per Share - Computatio

Earnings Per Share - Computation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to Bruker Corporation	$ 7.6	$ 57.1	$ 58.5	$ 133.6
Weighted average common shares outstanding:
Weighted average common shares outstanding - basic	147.4	146.8	146.3	146.8
Effect of dilutive securities:
Stock options and restricted stock units	0.6	0.9	0.7	0.8
Weighted average common shares outstanding - diluted	148	147.7	147	147.6
Net income per common share attributable to Bruker Corporation shareholders:
Basic	$ 0.05	$ 0.39	$ 0.4	$ 0.91
Diluted	$ 0.05	$ 0.39	$ 0.4	$ 0.91

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Stock Options (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Stock Option
Anti-dilutive securities
Number of shares excluded from the computation of diluted earnings per share	0.2	0.2	0.2	0.2

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchase and Dividends (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 31, 2023	Aug. 31, 2022	May 31, 2021
Shareholders' Equity
Excise tax on stock repurchases						1%
May 2021 Repurchase Program
Shareholders' Equity
Amount approved for repurchase of common stock							$ 500
Common stock repurchased during the period (in shares)		0		315,318
Aggregate cost of common stock repurchased during the period				$ 22.2
Remaining authorization amount for repurchase of common stock	$ 94.4		$ 94.4
Stock repurchase program expiration date			May 31, 2023
May 2023 Repurchase Program
Shareholders' Equity
Amount approved for repurchase of common stock					$ 500
Common stock repurchased during the period (in shares)	0		0
Remaining authorization amount for repurchase of common stock	$ 369.9		$ 369.9

Shareholders' Equity - Public O

Shareholders' Equity - Public Offering (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended
	May 31, 2024	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01		$ 0.01
Net proceeds			$ 5.7	$ 2.8
Common Stock
Class of Stock [Line Items]
Issuance of common stock (in shares)		6,000,000
Underwriting Agreement
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 67.29
Net proceeds	$ 403
Underwriting Agreement | Common Stock
Class of Stock [Line Items]
Issuance of common stock (in shares)	6,000,000

Shareholders' Equity - Expense

Shareholders' Equity - Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 5.1	$ 4.4	$ 10	$ 8.7
Additional information
Weighted average remaining service period			2 years
Expected pre-tax stock-based compensation expense	2.7		$ 2.7
2016 Incentive Compensation Plan
Additional information
Weighted average remaining service period			2 years 3 months 18 days
Expected pre-tax stock-based compensation expense	32.9		$ 32.9
Cost of revenues
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	0.4	0.4	0.8	0.7
Selling, general and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	4.1	3.5	8	7.1
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	0.6	0.5	1.2	0.9
Other charges, net
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	1.7	1.2	2.2	3.4
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	0.4	0.4	0.9	0.8
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	4.4	3.8	8.6	7.5
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 0.3	$ 0.2	$ 0.5	$ 0.4

Other Charges, Net - Components

Other Charges, Net - Components of other charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Information technology transformation costs	$ 1.9	$ 0.6	$ 2.7	$ 1.1
Restructuring charges	1.2	0.3	4.7	0.6
Acquisition-related expenses, net	17.5	2.9	21.6	5.8
Other	2.4	1.6	4.9	3.2
Other charges, net	$ 23	$ 5.4	$ 33.9	$ 10.7

Other Charges, Net - Restructur

Other Charges, Net - Restructuring Plans (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring charges
Restructuring expenses	$ 7.2	$ 6.1	$ 0.4	$ 13.3	$ 0.9
Cost of revenues
Restructuring charges
Restructuring expenses		4.9	0.1	8.6	0.3
Other charges, net
Restructuring charges
Restructuring expenses		$ 1.2	$ 0.3	$ 4.7	$ 0.6

Other Charges, Net - Restruct_2

Other Charges, Net - Restructuring Reserves (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Changes in the restructuring reserves
Balance at the beginning of the period				$ 13.1
Restructuring charges	$ 7.2	$ 6.1	$ 0.4	13.3	$ 0.9
Cash payments				(14.4)
Other, non-cash adjustments and foreign currency effect				(5.6)
Balance at the end of the period		6.4		6.4
Severance
Changes in the restructuring reserves
Balance at the beginning of the period				9.6
Restructuring charges				4.5
Cash payments				(10.8)
Other, non-cash adjustments and foreign currency effect				(0.1)
Balance at the end of the period		3.2		3.2
Exit Costs
Changes in the restructuring reserves
Balance at the beginning of the period				2.9
Restructuring charges				3.3
Cash payments				(3.6)
Other, non-cash adjustments and foreign currency effect				0
Balance at the end of the period		2.6		2.6
Provisions for Excess Inventory
Changes in the restructuring reserves
Balance at the beginning of the period				0.6
Restructuring charges				5.5
Cash payments				0
Other, non-cash adjustments and foreign currency effect				(5.5)
Balance at the end of the period		$ 0.6		$ 0.6

Other Charges, Net - Additional

Other Charges, Net - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7.2	$ 6.1	$ 0.4	$ 13.3	$ 0.9
Severance payment				14.4
Impairment charge against operating lease right of use assets		0.3		1.5
R&D [Member]
Restructuring Cost and Reserve [Line Items]
Impairment charges		0.4		0.4
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				4.5
Severance payment				10.8
Employee Severance [Member] | Bruker Cellular Analytics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2.6		6.5		$ 14.9
Severance payment		$ 3.7		$ 10.7

Interest and Other Income (Ex_3

Interest and Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Interest income	$ 2.4	$ 1.9	$ 5	$ 3.3
Interest expense	(15.7)	(3.9)	(20.7)	(8.1)
Impairment of minority investments	(20.2)	(11.4)	(20.2)	(18.3)
Exchange gains (losses) on foreign currency transactions	9	(2.2)	17.9	(5.5)
Pension components	0.3	0	0.6	(0.1)
Other income (expense)	0	6.9	0	3.9
Interest and other income (expense), net	$ (24.2)	$ (8.7)	$ (17.4)	$ (24.8)

Interest and Other Income (Ex_4

Interest and Other Income (Expense), Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Offsetting Assets [Line Items]
Exchange gains (losses) on foreign currency transactions	$ 9	$ (2.2)	$ 17.9	$ (5.5)
Forward currency contract
Offsetting Assets [Line Items]
Unrealized foreign exchange gain	$ 10.4		$ 10.4

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Letters of Credit and Guarantees
Health care insurance liabilities in other accrued liabilities	$ 2
Nano String
Letters of Credit and Guarantees
Damages awarded	$ 31.6

Business Segment Information -

Business Segment Information - Schedule of Revenue, Operating Income and Total Assets by Reportable Segment (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business segment information
Operating (loss) income		$ 48.1	$ 86.2	$ 112.9	$ 208.9
Assets		5,902.6		5,902.6		$ 4,249.9
Operating segments
Business segment information
Assets		5,764.8		5,764.8		4,110.6
Corporate, eliminations and other
Business segment information
Operating (loss) income	[1]	(31.6)	(24)	(58)	(43.7)
Assets	[2]	(41.6)		(41.6)		(46.7)
BSI BioSpin | Operating segments
Business segment information
Operating (loss) income		37.3	23.8	68.5	71.2
BSI CALID | Operating segments
Business segment information
Operating (loss) income		35.5	44	76.6	101.6
BSI Nano | Operating segments
Business segment information
Operating (loss) income		(3.6)	31.3	7.2	60.7
BEST | Operating segments
Business segment information
Operating (loss) income		10.5	$ 11.1	18.6	$ 19.1
Assets		$ 179.4		$ 179.4		$ 186
[1] Represents corporate costs and eliminations not allocated to the reportable segments. Unallocated costs include general and administrative expenses not directly incurred by the segments such as professional fees incurred for the quarterly reviews and annual audit of the consolidated financial statements, personnel costs of corporate accounting, finance, legal and IT resources, and other expense items. Assets not allocated to the reportable segments and eliminations of intercompany transactions.