Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 30, 2013 | Nov. 04, 2013 | Nov. 04, 2013 | |
Common Class A [Member] | Common Class B [Member] | ||
Entity Registrant Name | 'BIO RAD LABORATORIES INC | ' | ' |
Entity Central Index Key | '0000012208 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-Q | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 23,605,496 | 5,089,371 |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS: | ' | ' |
Cash and cash equivalents | $291,793 | $463,388 |
Short-term investments | 270,027 | 457,685 |
Accounts Receivable, Net | 383,471 | 398,739 |
Inventories: | ' | ' |
Raw materials | 105,246 | 93,009 |
Work in process | 132,111 | 124,737 |
Finished goods | 286,146 | 237,374 |
Total inventories | 523,503 | 455,120 |
Prepaid Expenses | 131,357 | 92,489 |
Other current assets | 74,392 | 69,261 |
Total current assets | 1,674,543 | 1,936,682 |
Property, plant and equipment, at cost | 1,065,684 | 1,012,034 |
Less: accumulated depreciation and amortization | -640,608 | -595,096 |
Property, plant and equipment, net | 425,076 | 416,938 |
Goodwill, net | 513,705 | 495,418 |
Purchased intangibles, net | 276,054 | 260,939 |
Other investments | 354,733 | 293,613 |
Other assets | 36,297 | 39,913 |
Total assets | 3,280,408 | 3,443,503 |
LIABILITIES AND STOCKHOLDERS' EQUITY: | ' | ' |
Accounts payable | 131,899 | 130,867 |
Accrued payroll and employee benefits | 133,218 | 135,955 |
Notes payable and current maturities of long-term debt | 1,705 | 1,750 |
Income and other taxes payable | 32,424 | 34,779 |
Accrued royalties | 19,860 | 29,718 |
Other current liabilities | 143,779 | 139,331 |
Total current liabilities | 462,885 | 472,400 |
Long-term debt, net of current maturities | 435,541 | 732,414 |
Other long-term liabilities | 257,742 | 223,149 |
Total liabilities | 1,156,168 | 1,427,963 |
Bio-Rad stockholders' equity: | ' | ' |
Additional paid-in capital | 232,031 | 212,244 |
Retained earnings | 1,575,981 | 1,528,327 |
Accumulated other comprehensive income | 316,326 | 274,532 |
Total Bio-Rad stockholders' equity | 2,124,240 | 2,015,005 |
Noncontrolling interests | 0 | 535 |
Total stockholders' equity | 2,124,240 | 2,015,540 |
Total liabilities and stockholders' equity | 3,280,408 | 3,443,503 |
Common Class A [Member] | ' | ' |
Bio-Rad stockholders' equity: | ' | ' |
Common stock | 2 | 2 |
Common Class B [Member] | ' | ' |
Bio-Rad stockholders' equity: | ' | ' |
Common stock | 1 | 1 |
Treasury Class A [Member] | ' | ' |
Bio-Rad stockholders' equity: | ' | ' |
Treasury Stock, Value | -12 | -12 |
Treasury Class B [Member] | ' | ' |
Bio-Rad stockholders' equity: | ' | ' |
Treasury Stock, Value | ($89) | ($89) |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets Parenthetical | Sep. 30, 2013 | Dec. 31, 2012 |
Common Class A [Member] | ' | ' |
Common Stock, Shares, Issued | 23,578,766 | 23,332,532 |
Common Stock, Shares, Outstanding | 23,578,644 | 23,332,410 |
Common Class B [Member] | ' | ' |
Common Stock, Shares, Issued | 5,087,888 | 5,149,771 |
Common Stock, Shares, Outstanding | 5,086,971 | 5,148,854 |
Treasury Class A [Member] | ' | ' |
Treasury Stock, Shares | 122 | 122 |
Treasury Class B [Member] | ' | ' |
Treasury Stock, Shares | 917 | 917 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales | $505,066 | $498,697 | $1,530,059 | $1,495,396 |
Cost of goods sold | 220,850 | 224,927 | 674,330 | 654,784 |
Gross profit | 284,216 | 273,770 | 855,729 | 840,612 |
Selling, general and administrative expense | 202,238 | 160,134 | 583,486 | 492,913 |
Research and development expense | 52,920 | 47,795 | 155,104 | 150,637 |
Segment profit (loss) | 29,058 | 65,841 | 117,139 | 197,062 |
Interest expense | 31,611 | 11,901 | 54,252 | 37,498 |
Foreign exchange losses, net | 3,330 | 448 | 5,723 | 3,508 |
Other (income) expense, net | -667 | -1,511 | -10,711 | -14,692 |
Income before income taxes | -5,216 | 55,003 | 67,875 | 170,748 |
Provision for income taxes | -1,883 | -12,383 | -20,200 | -48,375 |
Net income including noncontrolling interests | -7,099 | 42,620 | 47,675 | 122,373 |
Net loss (income) attributable to noncontrolling interests | 0 | 13 | -21 | -148 |
Net income attributable to Bio-Rad | ($7,099) | $42,633 | $47,654 | $122,225 |
Basic earnings per share: | ' | ' | ' | ' |
Net income per share basic attributable to Bio-Rad | ($0.25) | $1.51 | $1.67 | $4.33 |
Weighted average common shares - basic | 28,603 | 28,312 | 28,545 | 28,255 |
Diluted earnings per share: | ' | ' | ' | ' |
Net income per share diluted attributable to Bio-Rad | ($0.25) | $1.49 | $1.65 | $4.27 |
Weighted average common shares - diluted | 28,603 | 28,645 | 28,870 | 28,609 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income including noncontrolling interests | ($7,099) | $42,620 | $47,675 | $122,373 |
Foreign currency translation adjustments | 41,037 | 14,218 | 5,078 | 2,568 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0 | 0 | 0 | 70 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent | -246 | 35 | 45 | 216 |
Net unrealized holding gains (losses) on available-for-sale investments net of tax expense | 8,216 | 21,023 | 36,688 | 52,219 |
Reclassification adjustments for gains included in net income including noncontrolling interests, net of tax expense | 294 | -719 | 147 | -4,973 |
Total other comprehensive income (loss) net of tax | 49,301 | 34,557 | 41,958 | 50,100 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 42,202 | 77,177 | 89,633 | 172,473 |
Comprehensive loss attributable to noncontrolling interests | 0 | 4 | -185 | -155 |
Comprehensive income (loss) attributable to Bio-Rad net of tax | $42,202 | $77,181 | $89,448 | $172,318 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax | $0 | $0 | $0 | $0 |
Other post-employment benefit adjustment, tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 4.8 | 12.2 | 21.4 | 30.4 |
Reclassification adjustments for gains included in net income including noncontrolling interests, tax | $0.20 | ($0.40) | $0.10 | ($2.90) |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Cash received from customers | $1,531,251 | $1,512,991 |
Cash paid to suppliers and employees | -1,331,426 | -1,227,911 |
Interest paid | -50,188 | -35,929 |
Income tax payments | -59,720 | -77,411 |
Investment proceeds and miscellaneous receipts, net | 12,926 | 9,429 |
Excess tax benefits from share-based compensation | -808 | -925 |
Net cash provided by operating activities | 102,035 | 180,244 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -83,356 | -112,366 |
Proceeds from dispositions of property, plant and equipment | 1,252 | 231 |
Payments for acquisitions, net of cash received, and long-term investments | -68,510 | -38,479 |
Payments for purchases of intangible assets | -500 | -1,724 |
Payments for purchases of marketable securities and investments | -325,036 | -547,529 |
Proceeds from sales of marketable securities and investments | 277,389 | 89,371 |
Proceeds from maturities of marketable securities and investments | 234,707 | 271,150 |
Proceeds from (payments for) forward foreign exchange contracts, net | 969 | -1,418 |
Net cash provided by (used in) investing activities | 36,915 | -340,764 |
Cash flows from financing activities: | ' | ' |
Net payments on line-of-credit arrangements and notes payable | -18 | -213 |
Payments on long-term borrowings | -300,178 | -496 |
Payments of contingent consideration | -25,474 | 0 |
Proceeds from issuance of common stock | 9,397 | 8,958 |
Purchase of treasury stock | 0 | -101 |
Excess tax benefits from share-based compensation | 808 | 925 |
Net cash (used in) provided by financing activities | -315,465 | 9,073 |
Effect of foreign exchange rate changes on cash | 4,920 | 3,673 |
Net decrease in cash and cash equivalents | -171,595 | -147,774 |
Cash and cash equivalents at beginning of period | 463,388 | 574,231 |
Cash and cash equivalents at end of period | 291,793 | 426,457 |
Reconciliation of net income including noncontrolling interests to net cash provided by operating activities: | ' | ' |
Net income including noncontrolling interests | 47,675 | 122,373 |
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities excluding the effects of acquisitions: | ' | ' |
Depreciation and amortization | 105,181 | 94,885 |
Share-based compensation | 9,894 | 9,248 |
Forward foreign exchange contracts, net | -969 | 1,418 |
Losses (gains) on dispositions of securities | 408 | -7,515 |
Excess tax benefits from share-based compensation | -808 | -925 |
Changes in fair value of contingent consideration | -1,347 | -15,984 |
Decrease in accounts receivable | 14,803 | 24,880 |
Increase in inventories | -57,162 | -18,979 |
Increase in other current assets | -5,748 | -4,367 |
Increase (decrease) in accounts payable and other current liabilities | 19,272 | -5,916 |
Decrease in income taxes payable | -30,710 | -26,719 |
Net increase in other long-term liabilities | 1,546 | 7,845 |
Net cash provided by operating activities | $102,035 | $180,244 |
1_Organization_Consolidation_a
1. Organization, Consolidation and Presentation of Financial Statements | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure | ' | |||||||||||||||||
1.BASIS OF PRESENTATION AND USE OF ESTIMATES | ||||||||||||||||||
Basis of Presentation | ||||||||||||||||||
In this report, “Bio-Rad,” “we,” “us,” "the Company" and “our” refer to Bio-Rad Laboratories, Inc. and its subsidiaries. The accompanying unaudited condensed consolidated financial statements of Bio-Rad have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and reflect all adjustments which are, in the opinion of management, necessary to fairly state the results of the interim periods presented. All such adjustments are of a normal recurring nature, with the exception to the adjustments noted below. Results for the interim period are not necessarily indicative of the results for the entire year. The condensed consolidated balance sheet at December 31, 2012 has been derived from the audited consolidated financial statements (and taking into account the corrections and reclassification discussed below) at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||||||
We evaluate subsequent events and the evidence they provide about conditions existing at the date of the balance sheet as well as conditions that arose after the balance sheet date but through the date the financial statements are issued. The effects of conditions that existed at the balance sheet date are recognized in the financial statements. Events and conditions arising after the balance sheet date but before the financial statements are issued are evaluated to determine if disclosure is required to keep the financial statements from being misleading. To the extent such events and conditions exist, disclosures are made regarding the nature of events and the estimated financial effects for those events and conditions. | ||||||||||||||||||
Use of Estimates | ||||||||||||||||||
The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting periods. Bio-Rad bases its estimates on historical experience and on various other market-specific and other relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. | ||||||||||||||||||
CORRECTION OF IMMATERIAL ERRORS, AND RECLASSIFICATION OF CERTAIN AMOUNTS | ||||||||||||||||||
Inventory Costing | ||||||||||||||||||
During the third quarter of 2013, we identified errors in the consolidated financial statements for the years 2008 through 2012 (and for all interim periods therein) and in the unaudited interim condensed consolidated financial statements for the three month periods ended March 31, 2013 and June 30, 2013, related to the valuation of finished goods inventory in our Life Science segment. We were expensing inventory in amounts greater than actual costs for non-sales transactions, such as expensed inventory used for demonstration purposes and product samples. | ||||||||||||||||||
The effect of correcting these errors in 2008, 2009, 2010, 2011, 2012, and for the three and nine months ended September 30, 2012 consolidated financial statements were increases to net income of $0.6 million, $0.8 million, $0.7 million, $0.8 million, $1.3 million, $0.3 million and $1.0 million, respectively. | ||||||||||||||||||
Research and Development (R&D) Credit | ||||||||||||||||||
During the third quarter of 2013, we revised the classification of certain amounts for all periods presented from “Provision for income taxes” to “Research and development expense” in our Consolidated Statements of Operations to conform to the current year presentation. The amounts reclassified pertain to a refundable French R&D tax credit, which after the reclassification reduces Research and development expense. The effect of the reclassifications from Provision for income taxes to Research and development expense for 2010, 2011, 2012, and for the three and nine months ended September 30, 2012 was $5.8 million, $8.8 million, $4.8 million, $1.2 million and $3.6 million, respectively. | ||||||||||||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Operations giving effect to the errors and the reclassification described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Cost of goods sold | $ | 224,927 | $ | 654,784 | $ | 914,077 | $ | 894,700 | $ | 835,310 | ||||||||
Selling, general and administrative expense | $ | 160,134 | $ | 492,913 | $ | 681,778 | $ | 695,984 | $ | 634,413 | ||||||||
Research and development expense | $ | 47,795 | $ | 150,637 | $ | 209,204 | $ | 177,604 | $ | 166,486 | ||||||||
Provision for income taxes | $ | 12,383 | $ | 48,375 | $ | 64,729 | $ | 67,034 | $ | 39,533 | ||||||||
Presentation and Disclosure of the Statements of Comprehensive Income | ||||||||||||||||||
During the first quarter of 2013, we identified errors in the Consolidated Statements of Comprehensive Income for 2012, 2011 and 2010, and in the unaudited interim Condensed Consolidated Statements of Comprehensive Income for all three quarters of 2012, which affected two line items within this financial statement. Specifically, we incorrectly calculated the 1) net unrealized holding gains on available-for-sale (AFS) investments, net of tax, and 2) reclassification adjustments for net holding gains/losses on AFS investments included in net income including noncontrolling interests, net of tax. | ||||||||||||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Comprehensive Income giving effect to the errors described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Net unrealized holding gains on AFS investments, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | $21,023 | $52,219 | $65,448 | $12,663 | $15,495 | |||||||||||||
Income taxes on net unrealized holding gains on AFS investments; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | $12,240 | $30,405 | $38,108 | $7,373 | $9,022 | |||||||||||||
Reclassification adjustments for net holding (gains) losses on AFS investments included in Net income including noncontrolling interests, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | ($719) | ($4,973) | ($5,045) | $104 | ($385) | |||||||||||||
Income taxes on reclassification adjustments for net holding gains/losses on AFS investments included in Net income including noncontrolling interests; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | ($418) | ($2,895) | ($2,937) | $61 | ($224) | |||||||||||||
Management evaluated the materiality of the errors from a qualitative and quantitative perspective. Based on such evaluation, we have concluded that while the accumulation of these errors was significant to the three months ended September 30, 2013, their correction would not be material to any individual prior period, nor did they have an effect on the trend of financial results, taking into account the requirements of the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements (SAB 108). Accordingly, we will correct these errors prospectively when the 2013 Consolidated Statements of Income and Comprehensive Income are included in future filings. | ||||||||||||||||||
Recent Accounting Standards Updates | ||||||||||||||||||
In February 2013, the Financial Accounting Standards Board (FASB) issued guidance requiring that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. If a component is not required to be reclassified to net income in its entirety, companies would instead cross reference to the related footnote for additional information. We adopted this guidance as of January 1, 2013 and present it in a single note. |
2_Acquisitions
2. Acquisitions | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
2.ACQUISITIONS | |
In January 2013, we acquired 100% of the outstanding shares of AbD Serotec, a division of MorphoSys AG, for total consideration of $62.2 million (net of cash received of $7.3 million). This acquisition was accounted for as a business combination as AbD Serotec represented an integrated set of activities and assets that was capable of being conducted and managed for the purpose of providing a return and therefore constitutes a business in accordance with GAAP. The amount of acquisition-related costs was minimal as Bio-Rad primarily represented itself during the acquisition process. This business acquisition is included in our Life Science segment's results of operations from the acquisition date. We believe that with AbD Serotec's comprehensive catalog of antibodies, we are able to offer our customers total assay solutions that can be validated on many of our research platforms for western blotting, multiplex protein expression, ELISA and cell sorting. | |
During the second quarter of 2013, we finalized the determination of fair values of certain acquired intangible assets and adjusted the preliminary carrying values of goodwill and certain other assets and liabilities to include final information received, and an update to the weighted average tax rate applied to our valuation model and changes in the determination of fair values of certain assets acquired and liabilities assumed. These factors that existed as of the acquisition date resulted in an overall increase to intangible assets of $1.7 million, a reduction of goodwill of $2.1 million and an increase to net tangible assets of $0.4 million. These measurement period adjustments did not have a material impact on our previously reported condensed consolidated financial statements and, therefore, we have not retrospectively adjusted those financial statements. | |
The final fair values of the net assets acquired consist of definite-lived intangible assets of $44.0 million, goodwill of $14.9 million and net tangible assets of $3.3 million. A portion of the goodwill recorded may be deductible for income tax purposes. | |
In August 2012, we acquired from Propel Labs, Inc. a new cell sorting system, an automated, easy-to-use benchtop cell sorting flow cytometer. The new system will be sold exclusively under the Bio-Rad brand as the S3TM Cell Sorter. This asset acquisition was accounted for as a business combination as the new cell sorting system represented an integrated set of activities and assets that was capable of being conducted and managed for the purpose of providing a return and therefore constitutes a business in accordance with GAAP. The amount of acquisition-related costs was minimal as Bio-Rad primarily represented itself during the acquisition process. This business acquisition is included in our Life Science segment's results of operations from the acquisition date. | |
The fair value of the consideration as of the acquisition date was $49.6 million, which included $5.0 million paid in cash at the closing date and $44.6 million in contingent consideration potentially payable to Propel Labs' shareholders. The contingent consideration was based on a probability-weighted income approach related to the achievement of certain development and sales milestones. The contingent consideration for the development milestones was valued at $19.9 million based on assumptions regarding the probability of achieving the milestones, with such amounts discounted to present value. The contingent consideration for the sales milestones was valued at $24.7 million based on a statistically significant number of simulations for each potential outcome. (See Note 3 for further discussion of the contingent consideration valuation and underlying assumptions.) | |
The fair values of the net assets acquired from Propel Labs, Inc. as of the acquisition date were determined to be $17.4 million of goodwill, $32.1 million of definite-lived intangible assets and $0.1 million of net tangible assets. We expect the goodwill recorded to be deductible for income tax purposes. The acquired cell sorting system fits well into Bio-Rad's existing Life Science segment product offerings and may offer researchers greater access to this technology. | |
In July 2012, we acquired all of the outstanding shares of DiaMed Benelux for 4.6 million Euros (approximately $5.6 million) in cash. This acquisition was accounted for as a business combination as DiaMed Benelux represented an integrated set of activities and assets that was capable of being conducted and managed for the purpose of providing a return and therefore constitutes a business in accordance with GAAP. The amount of acquisition-related costs was minimal as Bio-Rad primarily represented itself during the acquisition process. This business acquisition is included in our Clinical Diagnostics segment's results of operations from the acquisition date. | |
We acquired net tangible liabilities with a fair value of $2.3 million and the fair values of the assets acquired as of the acquisition date were determined to be $3.0 million of goodwill and $4.9 million of definite-lived intangible assets. The goodwill recorded will not be deductible for income tax purposes. DiaMed Benelux became the exclusive distributor of certain Bio-Rad immunohematology products in the Benelux market as a result of the 2007 acquisition of DiaMed Holding AG. This distributor acquisition is consistent with our stated objective to control the distribution of our own products and services. | |
In January 2012, we purchased, for cash, certain assets from a raw material supplier for approximately $12.5 million. This asset acquisition was accounted for as a business combination as the certain assets acquired represented an integrated set of activities and assets that was capable of being conducted and managed for the purpose of providing a return and therefore constitutes a business in accordance with GAAP. The amount of acquisition-related costs was minimal as Bio-Rad primarily represented itself during the acquisition process. This business acquisition is included in the Clinical Diagnostics segment's results of operations from the acquisition date. The fair value of the assets acquired was determined to be $6.3 million of net tangible assets, $5.1 million of intangible assets and $1.1 million of goodwill. We expect the goodwill recorded to be deductible for income tax purposes. In addition, we paid $2.0 million for employment agreements as an incentive to certain employees of the acquired business to remain with Bio-Rad. Such amount will be expensed over two years from the acquisition date and was recorded in Prepaid expenses, taxes and other current assets, and Other assets in the accompanying Condensed Consolidated Balance Sheet. We believe this acquisition allows us to secure the supply of critical raw materials and lower our overall costs in the Clinical Diagnostics segment. | |
We do not consider any of these business combinations in 2013 and 2012, individually, or when aggregated, to be material and therefore have not disclosed the pro forma results of operations as required for material business combinations. |
3_Fair_Value_Measurements
3. Fair Value Measurements | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Measures And Disclosures | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
3.FAIR VALUE MEASUREMENTS | ||||||||||||||||||||
We determine the fair value of an asset or liability based on the assumptions that market participants would use in pricing the asset or liability in an orderly transaction between market participants at the measurement date. The identification of market participant assumptions provides a basis for determining what inputs are to be used for pricing each asset or liability. A fair value hierarchy has been established which gives precedence to fair value measurements calculated using observable inputs over those using unobservable inputs. This hierarchy prioritizes the inputs into three broad levels as follows: | ||||||||||||||||||||
• | Level 1: Quoted prices in active markets for identical instruments | |||||||||||||||||||
• | Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments) | |||||||||||||||||||
• | Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments) | |||||||||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis as of September 30, 2013 are classified in the hierarchy as follows (in millions): | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial Assets Carried at Fair Value: | ||||||||||||||||||||
Cash equivalents (a): | ||||||||||||||||||||
Commercial paper | $ | — | $ | 14 | $ | — | $ | 14 | ||||||||||||
Foreign time deposits | 11.4 | — | — | 11.4 | ||||||||||||||||
Money market funds | 0.2 | — | — | 0.2 | ||||||||||||||||
Total cash equivalents | 11.6 | 14 | — | 25.6 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 120.3 | — | 120.3 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 8.9 | — | 8.9 | ||||||||||||||||
U.S. government sponsored agencies | — | 42.3 | — | 42.3 | ||||||||||||||||
Foreign government obligations | — | 6.9 | — | 6.9 | ||||||||||||||||
Municipal obligations | — | 10.6 | — | 10.6 | ||||||||||||||||
Marketable equity securities | 303.5 | — | — | 303.5 | ||||||||||||||||
Asset-backed securities | — | 51.6 | — | 51.6 | ||||||||||||||||
Total available-for-sale investments | 303.5 | 240.6 | — | 544.1 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 0.9 | — | 0.9 | ||||||||||||||||
Total financial assets carried at fair value | $ | 315.1 | $ | 255.5 | $ | — | $ | 570.6 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 1.1 | $ | — | $ | 1.1 | ||||||||||||
Contingent consideration (e) | — | — | 25.2 | 25.2 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 1.1 | $ | 25.2 | $ | 26.3 | ||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2012 are classified in the hierarchy as follows (in millions): | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial Assets Carried at Fair Value: | ||||||||||||||||||||
Cash equivalents (a): | ||||||||||||||||||||
Commercial paper | $ | — | $ | 52.8 | $ | — | $ | 52.8 | ||||||||||||
Foreign time deposits | 10.1 | — | — | 10.1 | ||||||||||||||||
U.S. government sponsored agencies | — | 1.3 | — | 1.3 | ||||||||||||||||
Money market funds | 5.5 | — | — | 5.5 | ||||||||||||||||
Total cash equivalents | 15.6 | 54.1 | — | 69.7 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 240.6 | — | 240.6 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 0.4 | — | 0.4 | ||||||||||||||||
U.S. government sponsored agencies | — | 92.7 | — | 92.7 | ||||||||||||||||
Foreign government obligations | — | 5.6 | — | 5.6 | ||||||||||||||||
Municipal obligations | — | 12.1 | — | 12.1 | ||||||||||||||||
Marketable equity securities | 242.1 | — | — | 242.1 | ||||||||||||||||
Asset-backed securities | — | 82.2 | — | 82.2 | ||||||||||||||||
Total available-for-sale investments | 242.1 | 433.6 | — | 675.7 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 1.1 | — | 1.1 | ||||||||||||||||
Total financial assets carried at fair value | $ | 257.7 | $ | 488.8 | $ | — | $ | 746.5 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 0.8 | $ | — | $ | 0.8 | ||||||||||||
Contingent consideration (e) | — | — | 52.6 | 52.6 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 0.8 | $ | 52.6 | $ | 53.4 | ||||||||||||
(a) | Cash equivalents are included in Cash and cash equivalents in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(b) | Available-for-sale investments are included in the following accounts in the Condensed Consolidated Balance Sheets (in millions): | |||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Short-term investments | $ | 270 | $ | 457.7 | ||||||||||||||||
Other investments | 274.1 | 218 | ||||||||||||||||||
Total | $ | 544.1 | $ | 675.7 | ||||||||||||||||
(c) | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(d) | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(e) | Contingent consideration liability is included in the following accounts in the Condensed Consolidated Balance Sheets (in millions): | |||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Other current liabilities | $ | 6.9 | $ | 27.3 | ||||||||||||||||
Other long-term liabilities | 18.3 | 25.3 | ||||||||||||||||||
Total | $ | 25.2 | $ | 52.6 | ||||||||||||||||
During the fourth quarter of 2011 we recognized a contingent consideration liability upon our acquisition of QuantaLife related to potential future payments due upon the achievement of certain sales and development milestones. The contingent consideration was initially recognized at its estimated fair value of $24.1 million, based on a probability-weighted income approach. As of the acquisition date of October 4, 2011, total contingent consideration could have originally reached a maximum of $48 million upon the achievement of all sales milestones and a development milestone. However, we do not expect that the sales milestones will be met and therefore the remaining contingent consideration of $0.7 million was credited to Selling, general and administrative expense during the third quarter of 2013. The development milestone was met as of December 31, 2012, resulting in a payment of $6.0 million in January 2013. | ||||||||||||||||||||
During the third quarter of 2012, we recognized a contingent consideration liability upon our acquisition of a new cell sorting system from Propel Labs, Inc. The contingent consideration was revalued to its estimated fair value of $25.2 million and $44.6 million as of September 30, 2013 and December 31, 2012, respectively. The fair value of the contingent consideration was based on a probability-weighted income approach related to the achievement of certain development and sales milestones. The development milestones have been achieved and payments totaling $20 million were made in 2013. This form of payment guarantees that the seller transitions the manufacturing of the product to Bio-Rad. Based on the most recent valuation, the sales milestones could potentially range from $0 to a maximum of 60.0%, 51.32% and 50.38% of annual cell sorting system purchase orders, with payment to occur upon the anniversary of the completion of a certain number of cell sorting systems for three consecutive years, respectively. These maximum payout ratios begin at annual cell sorting system purchase orders in excess of $20 million, $30 million and $45 million for the three consecutive years, respectively. | ||||||||||||||||||||
The following table provides a reconciliation of the Level 3 contingent consideration liabilities measured at estimated fair value based on original valuations and updated quarterly for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||||||
1-Jan | $ | 52.6 | ||||||||||||||||||
Payment of development milestone - QuantaLife | (6.0 | ) | ||||||||||||||||||
Payment of development milestone - Cell sorting system | (20.0 | ) | ||||||||||||||||||
Decrease in estimated fair value of contingent consideration included in Selling, general and administrative expense - QuantaLife | (2.0 | ) | ||||||||||||||||||
Increase in estimated fair value of contingent consideration included in Selling, general and administrative expense - Cell sorting system | 0.6 | |||||||||||||||||||
30-Sep | $ | 25.2 | ||||||||||||||||||
The following table provides quantitative information about Level 3 inputs for fair value measurement of our contingent consideration liability as of September 30, 2013. Significant increases or decreases in these inputs in isolation could result in a significantly lower or higher fair value measurement. | ||||||||||||||||||||
Range | ||||||||||||||||||||
Valuation Technique | Unobservable Input | From | To | |||||||||||||||||
Cell sorting system | Probability-weighted income approach | Sales milestones: | ||||||||||||||||||
Credit adjusted discount rates | 1.10% | 2.00% | ||||||||||||||||||
Projected volatility of growth rate | 15.00% | N/A | ||||||||||||||||||
Market price of risk | 1.30% | N/A | ||||||||||||||||||
To estimate the fair value of Level 2 debt securities as of September 30, 2013, our primary pricing provider simplified its process during the first quarter of 2013 by eliminating certain pricing sources and established S&P Capital IQ as the primary pricing source. The new pricing process allows us to select a hierarchy of pricing sources for securities held. The chosen pricing hierarchy for our Level 2 securities, other than certificates of deposit and commercial paper, is S&P Capital IQ as the primary pricing source and then our custodian as the secondary pricing source. If S&P Capital IQ does not price a Level 2 security that we hold, then the pricing provider will utilize our custodian supplied pricing. | ||||||||||||||||||||
For commercial paper as of September 30, 2013, pricing is determined by a straight-line calculation, starting with the purchase price on the date of purchase and increasing to par at maturity. Interest bearing certificates of deposit and commercial paper are priced at par. | ||||||||||||||||||||
In addition to the above, our primary pricing provider performed daily reasonableness testing of the S&P Capital IQ prices to custodian reported prices. Prices outside a tolerable variance of approximately 1% are investigated and resolved. | ||||||||||||||||||||
To estimate the fair value of Level 2 debt securities as of December 31, 2012, our primary pricing service relied on inputs from multiple industry-recognized pricing sources to determine the price for each investment. In addition, our pricing service performed reasonableness testing of their prices on a daily basis by comparing them to the prices reported by our custodians as well as prior day prices. If the price difference fell outside of predetermined tolerable levels, they investigated the cause and resolved the pricing issue. Based on a review of the results of this analysis, we utilized our primary pricing service for all Level 2 debt securities as none of these securities tested outside of the tolerable levels. | ||||||||||||||||||||
As of December 31, 2012, our primary pricing service inputs for Level 2 U.S. government sponsored agencies, municipal obligations, corporate and foreign government bonds, asset-backed securities and related cash equivalents consisted of market prices from a variety of industry standard data providers, security master files from large financial institutions and other third-party sources. These multiple market prices were used by our primary pricing service as inputs into a distribution-curve based algorithm to determine the daily market value. | ||||||||||||||||||||
As of December 31, 2012, our primary pricing service inputs for Level 2 corporate debt securities (commercial paper), bank deposits and related cash equivalents consisted of dynamic and static security characteristics information obtained from several independent sources of security data. The dynamic inputs such as credit rating, factor and variable-rate, were updated daily. The static characteristics included inputs such as day count and first coupon upon initial security creation. These securities were typically priced utilizing mathematical calculations reliant on these observable inputs. Other available-for-sale foreign government obligations were based on indicative bids from market participants. | ||||||||||||||||||||
Available-for-sale investments consist of the following (in millions): | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 120.4 | $ | 0.3 | $ | (0.4 | ) | $ | 120.3 | |||||||||||
Foreign brokered certificates of deposit | 8.9 | — | — | 8.9 | ||||||||||||||||
Municipal obligations | 10.7 | — | (0.1 | ) | 10.6 | |||||||||||||||
Asset-backed securities | 51.5 | — | (0.2 | ) | 51.3 | |||||||||||||||
U.S. government sponsored agencies | 42.2 | 0.1 | — | 42.3 | ||||||||||||||||
Foreign government obligations | 6.9 | — | — | 6.9 | ||||||||||||||||
Marketable equity securities | 25.1 | 4.7 | (0.1 | ) | 29.7 | |||||||||||||||
265.7 | 5.1 | (0.8 | ) | 270 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 219.3 | — | 273.8 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
54.9 | 219.3 | (0.1 | ) | 274.1 | ||||||||||||||||
Total | $ | 320.6 | $ | 224.4 | $ | (0.9 | ) | $ | 544.1 | |||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 239.3 | $ | 1.4 | $ | (0.1 | ) | $ | 240.6 | |||||||||||
Foreign brokered certificates of deposit | 0.4 | — | — | 0.4 | ||||||||||||||||
Municipal obligations | 12 | 0.1 | — | 12.1 | ||||||||||||||||
Asset-backed securities | 81.6 | 0.4 | (0.1 | ) | 81.9 | |||||||||||||||
U.S. government sponsored agencies | 92.5 | 0.3 | (0.1 | ) | 92.7 | |||||||||||||||
Foreign government obligations | 5.4 | — | — | 5.4 | ||||||||||||||||
Marketable equity securities | 24.1 | 0.7 | (0.2 | ) | 24.6 | |||||||||||||||
455.3 | 2.9 | (0.5 | ) | 457.7 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 163 | — | 217.5 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
Foreign government obligations | 0.2 | — | — | 0.2 | ||||||||||||||||
55.1 | 163 | (0.1 | ) | 218 | ||||||||||||||||
Total | $ | 510.4 | $ | 165.9 | $ | (0.6 | ) | $ | 675.7 | |||||||||||
The following is a summary of investments with gross unrealized losses and the associated fair value (in millions): | ||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Fair value of investments in a loss position 12 months or more | $ | 2.1 | $ | 0.3 | ||||||||||||||||
Fair value of investments in a loss position less than 12 months | $ | 92.3 | $ | 99 | ||||||||||||||||
Gross unrealized losses for investments in a loss position 12 months or more | $ | 0.1 | $ | 0.1 | ||||||||||||||||
Gross unrealized losses for investments in a loss position less than 12 months | $ | 0.8 | $ | 0.5 | ||||||||||||||||
The unrealized losses on these securities are due to a number of factors, including changes in interest rates, changes in economic conditions and changes in market outlook for various industries, among others. Because Bio-Rad has the ability and intent to hold these investments with unrealized losses until a recovery of fair value, or for a reasonable period of time sufficient for a forecasted recovery of fair value, which may be maturity, we do not consider these investments to be other-than-temporarily impaired at September 30, 2013 or December 31, 2012. | ||||||||||||||||||||
Forward foreign exchange contracts: As part of distributing our products, we regularly enter into intercompany transactions. We enter into forward foreign exchange contracts to manage foreign exchange risk of future movements in foreign exchange rates that affect foreign currency denominated intercompany receivables and payables. We do not use derivative financial instruments for speculative or trading purposes. We do not seek hedge accounting treatment for these contracts. As a result, these contracts, generally with maturity dates of 90 days or less and related primarily to currencies of industrial countries, are recorded at their fair value at each balance sheet date. The notional principal amounts provide one measure of the transaction volume outstanding as of September 30, 2013 and do not represent the amount of Bio-Rad's exposure to loss. The estimated fair value of these contracts was derived using the spot rates from Reuters on the last business day of the quarter and the points provided by counterparties. The resulting gains or losses offset exchange gains or losses on the related receivables and payables, both of which are included in Foreign exchange losses, net in the unaudited interim Condensed Consolidated Statements of Operations. | ||||||||||||||||||||
The following is a summary of our forward foreign exchange contracts (in millions): | ||||||||||||||||||||
September 30, | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Contracts maturing in October through December 2013 to sell foreign currency: | ||||||||||||||||||||
Notional value | $ | 75.1 | ||||||||||||||||||
Unrealized loss | $ | (0.4 | ) | |||||||||||||||||
Contracts maturing in October through December 2013 to purchase foreign currency: | ||||||||||||||||||||
Notional value | $ | 401.4 | ||||||||||||||||||
Unrealized gain | $ | 0.2 | ||||||||||||||||||
The following is a summary of the amortized cost and estimated fair value of our debt securities at September 30, 2013 by contractual maturity date (in millions): | ||||||||||||||||||||
Amortized | Estimated Fair | |||||||||||||||||||
Cost | Value | |||||||||||||||||||
Mature in less than one year | $ | 86.1 | $ | 86.2 | ||||||||||||||||
Mature in one to five years | 113 | 113 | ||||||||||||||||||
Mature in more than five years | 41.9 | 41.4 | ||||||||||||||||||
Total | $ | 241 | $ | 240.6 | ||||||||||||||||
The estimated fair value of financial instruments in the table below has been determined using quoted prices in active markets for identical instruments or other significant observable inputs, including quoted prices in active markets for similar instruments. Estimates are not necessarily indicative of the amounts that could be realized in a current market exchange as considerable judgment is required in interpreting market data used to develop estimates of fair value. The use of different market assumptions or estimation techniques could have a material effect on the estimated fair value. Other investments include some financial instruments that have fair values based on market quotations. Long-term debt, excluding leases and current maturities, has an estimated fair value based on quoted market prices for the same or similar issues. | ||||||||||||||||||||
The estimated fair value of our financial instruments and the level of the fair value hierarchy within which the fair value measurement is categorized are as follows (in millions): | ||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
Carrying | Estimated | Fair Value Hierarchy Level | Carrying | Estimated | Fair Value Hierarchy Level | |||||||||||||||
Amount | Fair | Amount | Fair | |||||||||||||||||
Value | Value | |||||||||||||||||||
Other investments | $ | 354.7 | $ | 635 | 1 | $ | 293.6 | $ | 497.8 | 1 | ||||||||||
Total long-term debt, excluding leases and current maturities | $ | 423.2 | $ | 440 | 2 | $ | 720 | $ | 778.4 | 2 | ||||||||||
We own shares of ordinary voting stock of Sartorius AG (Sartorius), of Goettingen, Germany, a process technology supplier to the biotechnology, pharmaceutical, chemical and food and beverage industries. We own over 35% of the outstanding voting shares (excluding treasury shares) of Sartorius as of September 30, 2013. The Sartorius family trust and Sartorius family members hold a controlling interest of the outstanding voting shares. We do not have any representative or designee on Sartorius’ Board of Directors, nor do we have the ability to exercise significant influence over the operating and financial policies of Sartorius. In addition, the ordinary voting stock of Sartorius is thinly traded. Therefore, we account for this investment using the cost method. The carrying value of this investment is included in Other investments in our Condensed Consolidated Balance Sheets. |
4_Intangible_Assets_Goodwill_a
4. Intangible Assets, Goodwill and Other | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Goodwill and Intangible Assets Disclosure | ' | |||||||||||||||
4.GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS | ||||||||||||||||
Changes to goodwill by segment were as follows (in millions): | ||||||||||||||||
Life | Clinical | Total | ||||||||||||||
Science | Diagnostics | |||||||||||||||
Balances as of January 1, 2013: | ||||||||||||||||
Goodwill | $ | 193.6 | $ | 330 | $ | 523.6 | ||||||||||
Accumulated impairment losses | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||
Goodwill, net | 166.4 | 329 | 495.4 | |||||||||||||
Acquisitions | 14.9 | — | 14.9 | |||||||||||||
Currency fluctuations | 0.2 | 3.2 | 3.4 | |||||||||||||
Balances as of September 30, 2013: | ||||||||||||||||
Goodwill | 208.7 | 333.2 | 541.9 | |||||||||||||
Accumulated impairment losses | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||
Goodwill, net | $ | 181.5 | $ | 332.2 | $ | 513.7 | ||||||||||
In conjunction with the acquisition of 100% of the outstanding shares of AbD Serotec (see Note 2), we have recorded $14.9 million of goodwill and $44.0 million of definite-lived intangible assets: $33.0 million of developed product technology, $8.8 million of licenses, $1.3 million of customer relationships/lists, $0.4 million of tradenames and $0.5 million of other purchased intangibles. | ||||||||||||||||
Other than goodwill, we have no intangible assets with indefinite lives. Information regarding our identifiable purchased intangible assets with definite lives is as follows (in millions): | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||
Life (years) | Amount | |||||||||||||||
Customer relationships/lists | 11-Jan | $ | 105.2 | $ | (44.6 | ) | $ | 60.6 | ||||||||
Know how | 12-Feb | 193.3 | (83.2 | ) | 110.1 | |||||||||||
Developed product technology | 13-Jan | 108.4 | (33.3 | ) | 75.1 | |||||||||||
Licenses | 12-Jan | 44.7 | (21.4 | ) | 23.3 | |||||||||||
Tradenames | 10-Jan | 7.6 | (5.0 | ) | 2.6 | |||||||||||
Covenants not to compete | 9-Jul | 4.9 | (0.6 | ) | 4.3 | |||||||||||
Other | — | 0.6 | (0.5 | ) | 0.1 | |||||||||||
$ | 464.7 | $ | (188.6 | ) | $ | 276.1 | ||||||||||
December 31, 2012 | ||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||
Life (years) | Amount | |||||||||||||||
Customer relationships/lists | 12-Jan | $ | 102.8 | $ | (38.4 | ) | $ | 64.4 | ||||||||
Know how | 13-Jan | 189.3 | (67.1 | ) | 122.2 | |||||||||||
Developed product technology | 10-Jan | 74.6 | (25.1 | ) | 49.5 | |||||||||||
Licenses | 8-Jan | 35.6 | (18.7 | ) | 16.9 | |||||||||||
Tradenames | 10-Jan | 7.4 | (4.3 | ) | 3.1 | |||||||||||
Covenants not to compete | 10-Jan | 4.9 | (0.2 | ) | 4.7 | |||||||||||
Other | 1 | 0.1 | — | 0.1 | ||||||||||||
$ | 414.7 | $ | (153.8 | ) | $ | 260.9 | ||||||||||
Amortization expense related to purchased intangible assets is as follows (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortization expense | $ | 11.3 | $ | 10.7 | $ | 33.5 | $ | 32.2 | ||||||||
5_Product_Warranty_Liability
5. Product Warranty Liability | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
Product Warranty Liability | ' | |||
5.PRODUCT WARRANTY LIABILITY | ||||
We warrant certain equipment against defects in design, materials and workmanship, generally for a period of one year. Upon delivery of that equipment, we establish, as part of Cost of goods sold, a provision for the expected costs of such warranty based on historical experience, specific warranty terms and customer feedback. A review is performed on a quarterly basis to assess the adequacy of our warranty accrual. | ||||
Components of the warranty accrual, included in Other current liabilities and Other long-term liabilities in the Condensed Consolidated Balance Sheets, were as follows (in millions): | ||||
1-Jan-13 | $ | 16.4 | ||
Provision for warranty | 10.6 | |||
Actual warranty costs | (12.1 | ) | ||
September 30, 2013 | $ | 14.9 | ||
6_LongTerm_Debt
6. Long-Term Debt | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Long-term Debt | ' | |||||||
6. LONG-TERM DEBT | ||||||||
The principal components of long-term debt are as follows (in millions): | ||||||||
September 30, | December 31, 2012 | |||||||
2013 | ||||||||
8.0% Senior Subordinated Notes due 2016 | $ | — | $ | 296.9 | ||||
4.875% Senior Notes due 2020 | 423.2 | 423 | ||||||
Capital leases and other debt | 12.5 | 12.7 | ||||||
435.7 | 732.6 | |||||||
Less current maturities | (0.2 | ) | (0.2 | ) | ||||
Long-term debt | $ | 435.5 | $ | 732.4 | ||||
Senior Subordinated Notes due 2016 | ||||||||
In May 2009, Bio-Rad sold $300.0 million principal amount of Senior Subordinated Notes due 2016 (8.0% Notes). The sale yielded net cash proceeds of $294.8 million. In September 2013, we redeemed all of the 8.0% Notes for $312.0 million, including a call premium of $12.0 million, and expensed the remaining original issuance bond discount of $2.5 million and unamortized bond issuance costs of $1.1 million. This total loss on extinguishment is $15.6 million and is included in Interest expense in our Condensed Consolidated Statements of Operations. | ||||||||
Amended and Restated Credit Agreement (Credit Agreement) | ||||||||
In June 2010, Bio-Rad entered into a $200.0 million Credit Agreement. Borrowings under the Credit Agreement are on a revolving basis and can be used for acquisitions, for working capital and for other general corporate purposes. We had no outstanding borrowings under the Credit Agreement as of September 30, 2013 or December 31, 2012. The Credit Agreement expires on June 21, 2014. | ||||||||
The Credit Agreement is secured by substantially all of our personal property assets, the assets of our domestic subsidiaries and 65% of the capital stock of certain of our foreign subsidiaries. It is guaranteed by all of our existing and future material domestic subsidiaries. The Credit Agreement requires Bio-Rad to comply with certain financial ratios and covenants, among other things. These ratios and covenants include a leverage ratio test and an interest coverage test, as well as restrictions on our ability to declare or pay dividends, incur debt, guarantee debt, enter into transactions with affiliates, merge or consolidate, sell assets, make investments, create liens and prepay subordinated debt. We were in compliance with all of these ratios and covenants as of September 30, 2013. |
7_Noncontrolling_Interest
7. Noncontrolling Interest | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Noncontrolling Interests | ' | |||
7.NONCONTROLLING INTERESTS | ||||
Activity in noncontrolling interests is as follows (in millions): | ||||
1-Jan-13 | $ | 0.5 | ||
Net income attributable to noncontrolling interests | — | |||
Purchase of noncontrolling interests | (0.6 | ) | ||
Currency fluctuations | 0.1 | |||
September 30, 2013 | $ | — | ||
In February 2013, we acquired the remaining outstanding shares of Distribuidora de Analitica para Medicina Iberica S.A. (DiaMed Spain) from the remaining noncontrolling shareholder for approximately 0.6 million Euros or $0.9 million in cash. This acquisition was accounted for as an equity transaction, which reduced Bio-Rad's noncontrolling interests and additional paid-in capital by $0.6 million and $0.3 million, respectively. |
8_Accumulated_Other_Comprehens
8. Accumulated Other Comprehensive Income (Notes) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||||
accumulated other comprehensive income [Text Block] | ' | ||||||||||||||||||
8. ACCUMULATED OTHER COMPREHENSIVE INCOME | |||||||||||||||||||
Changes to Accumulated other comprehensive income components are shown in the following table: | |||||||||||||||||||
Foreign currency translation adjustments | Other post-employment benefits adjustments | Net unrealized holding gains on available-for-sale investments | Bio-Rad Accumulated other comprehensive income | Non-controlling interests | Total Accumulated other comprehensive income | ||||||||||||||
Balance at | $ | 172.9 | $ | (8.1 | ) | $ | 109.7 | $ | 274.5 | $ | (0.2 | ) | $ | 274.3 | |||||
1-Jan-13 | |||||||||||||||||||
Other comprehensive income, net of income taxes before reclassifications | 5.1 | — | 36.7 | 41.8 | — | 41.8 | |||||||||||||
Amounts reclassified from Accumulated other comprehensive income | (0.2 | ) | — | 0.2 | — | 0.2 | 0.2 | ||||||||||||
Net Other comprehensive income, net of income taxes | 4.9 | — | 36.9 | 41.8 | 0.2 | 42 | |||||||||||||
Balance at September 30, 2013 | $ | 177.8 | $ | (8.1 | ) | $ | 146.6 | $ | 316.3 | $ | — | $ | 316.3 | ||||||
Reclassifications from Accumulated other comprehensive income for the period ended September 30, 2013 are summarized in the following table: | |||||||||||||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item in the statement where net income is presented | |||||||||||||||||
Net holding losses on available-for-sale investments | $ | 0.2 | Other (income) expense, net | ||||||||||||||||
— | Income tax expense | ||||||||||||||||||
$ | 0.2 | Net of income taxes | |||||||||||||||||
9_Earnings_Per_Share
9. Earnings Per Share | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
9. (LOSS) EARNINGS PER SHARE | ||||||||||||
Basic (loss) earnings per share is computed by dividing net (loss) income attributable to Bio-Rad by the weighted average number of common shares outstanding for that period. Diluted (loss) earnings per share takes into account the effect of dilutive instruments, such as stock options and restricted stock, and uses the average share price for the period in determining the number of potential common shares that are to be added to the weighted average number of shares outstanding. Potential common shares are excluded from the diluted (loss) earnings per share calculation if the effect of including such securities would be anti-dilutive. For the three months ended September 30, 2013, net loss per basic share was the same as net loss per diluted share because all potentially dilutive shares were anti-dilutive due to the net loss for the period. | ||||||||||||
The weighted average number of common shares outstanding used to calculate basic and diluted (loss) earnings per share, and the anti-dilutive shares that are excluded from the diluted earnings per share calculation are as follows (in thousands): | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Basic weighted average shares outstanding | 28,603 | 28,312 | 28,545 | 28,255 | ||||||||
Effect of potentially dilutive stock options and restricted stock awards | — | 333 | 325 | 354 | ||||||||
Diluted weighted average common shares | 28,603 | 28,645 | 28,870 | 28,609 | ||||||||
Anti-dilutive shares | 416 | 94 | 95 | 106 | ||||||||
10_Other_Income_and_Expenses
10. Other Income and Expenses | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||||||
Other Income and Other Expense Disclosure | ' | |||||||||||||||
10. OTHER INCOME AND EXPENSE | ||||||||||||||||
Other (income) expense, net includes the following components (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest and investment income | $ | (1.1 | ) | $ | (1.0 | ) | $ | (10.2 | ) | $ | (7.9 | ) | ||||
Net realized losses (gains) on investments | 0.5 | (1.1 | ) | 0.2 | (8.5 | ) | ||||||||||
Miscellaneous other (income) expense items, net | (0.1 | ) | 0.6 | (0.7 | ) | 1.7 | ||||||||||
Other (income) expense, net | $ | (0.7 | ) | $ | (1.5 | ) | $ | (10.7 | ) | $ | (14.7 | ) |
11_Income_Taxes
11. Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
11. INCOME TAXES | |
Our effective income tax rate was (36)% and 23% for the three months ended September 30, 2013 and 2012, respectively. The effective tax rate for the third quarter of 2013 was higher than expected due to discrete items related primarily to tax liabilities for unrecognized tax benefits and audit settlements in our foreign jurisdictions. The effective tax rate for the third quarter of 2013 was negative because of the pretax loss incurred in the third quarter of 2013. The effective tax rate for the third quarter of 2012 was lower than the U.S. statutory rate primarily due to tax benefits from differences between U.S. and foreign statutory tax rates, and research and development tax credits. | |
Our effective income tax rate was 30% and 28% for the nine months ended September 30, 2013 and 2012, respectively. The effective tax rate for the first nine months of 2013 reflected a significant tax benefit related to the 2012 U.S. federal research credit, which was retroactively reinstated on January 2, 2013, as well as discrete items related primarily to our foreign operations. The effective income tax rates for the first nine months of 2013 and 2012 were lower than the U.S. statutory rate primarily due to tax benefits from differences between U.S. and foreign statutory tax rates, and research and development tax credits. | |
Our foreign taxes for all periods resulted primarily from taxable income earned in France and Switzerland. Switzerland's statutory tax rate is significantly lower than the U.S. statutory tax rate of 35%. Also, our effective tax rates for all periods were reduced by French tax incentives related to our research and development activities. | |
We file federal, state and foreign income tax returns in many jurisdictions in the United States and abroad. Our income tax returns are audited by federal, state and foreign tax authorities. We are currently under examination by the Internal Revenue Service (IRS) for the 2009 and 2010 tax years and by various state and foreign jurisdictions. There are differing interpretations of tax laws and regulations, and as a result, significant disputes may arise with these tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. We periodically evaluate our exposures associated with our tax filing positions. | |
As of September 30, 2013, based on the expected outcome of certain examinations or as a result of the expiration of statute of limitations for certain jurisdictions, we believe that within the next 12 months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $1.4 million. Substantially all such amounts will impact our effective income tax rate. | |
We record liabilities for unrecognized tax benefits related to uncertain tax positions. We do not believe any currently pending uncertain tax positions will have a material adverse effect on our condensed consolidated financial statements, although an adverse resolution of one or more of these uncertain tax positions in any period may have a material impact on the results of operations for that period. | |
In September of 2013, the U.S. Department of the Treasury and the Internal Revenue Service released final regulations regarding the deductibility and capitalization of expenditures related to tangible property. Compliance with these final regulations will be required with companies’ federal income tax returns for tax years beginning on or after January 1, 2014, although early adoption is available. We are currently assessing these rules and the impact to the financial statements, if any. We do not anticipate that these regulations will have a material impact on our consolidated results of operations, cash flows or financial position. |
12_Segment_Information
12. Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
12. SEGMENT INFORMATION | ||||||||||||||||
Information regarding industry segments for the three months ended September 30, 2013 and 2012 is as follows (in millions): | ||||||||||||||||
Life | Clinical | Other | ||||||||||||||
Science | Diagnostics | Operations | ||||||||||||||
Segment net sales | 2013 | $ | 162.9 | $ | 338.8 | $ | 3.4 | |||||||||
2012 | $ | 167 | $ | 328.4 | $ | 3.3 | ||||||||||
Segment (loss) profit | 2013 | $ | (8.5 | ) | $ | 43 | $ | — | ||||||||
2012 | $ | 6.8 | $ | 48.2 | $ | — | ||||||||||
Information regarding industry segments for the nine months ended September 30, 2013 and 2012 is as follows (in millions): | ||||||||||||||||
Life | Clinical | Other | ||||||||||||||
Science | Diagnostics | Operations | ||||||||||||||
Segment net sales | 2013 | $ | 489.5 | $ | 1,030.20 | $ | 10.4 | |||||||||
2012 | $ | 484.2 | $ | 999.6 | $ | 11.6 | ||||||||||
Segment (loss) profit | 2013 | $ | (28.9 | ) | $ | 130.6 | $ | 0.3 | ||||||||
2012 | $ | 9.4 | $ | 151.8 | $ | 1.8 | ||||||||||
Segment results are presented in the same manner as we present our operations internally to make operating decisions and assess performance. Net corporate operating, interest and other expense for segment results consists of receipts and expenditures that are not the primary responsibility of segment operating management and therefore are not allocated to the segments for performance assessment by our chief operating decision maker. For both the three and nine months ended September 30, 2013, this includes the accrual of $20.0 million in connection with our initial efforts to resolve the SEC and DOJ investigations relating to the FCPA that was recorded in the third quarter of 2013 (see Note 13) and the $15.6 million loss on extinguishment of our 8.0% Senior Subordinated Notes (see Note 6). Interest expense, excluding the loss on extinguishment of the bonds, is charged to segments based on the carrying amount of inventory and receivables employed by that segment. The following reconciles total segment profit to consolidated (loss) income before taxes (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total segment profit | $ | 34.5 | $ | 55 | $ | 102 | $ | 163 | ||||||||
Foreign exchange losses, net | (3.3 | ) | (0.4 | ) | (5.7 | ) | (3.5 | ) | ||||||||
Net corporate operating, interest and other expense not allocated to segments | (37.1 | ) | (1.1 | ) | (39.1 | ) | (3.5 | ) | ||||||||
Other income (expense), net | 0.7 | 1.5 | 10.7 | 14.7 | ||||||||||||
Consolidated (loss) income before income taxes | $ | (5.2 | ) | $ | 55 | $ | 67.9 | $ | 170.7 | |||||||
13_Legal_Proceedings
13. Legal Proceedings | 9 Months Ended |
Sep. 30, 2013 | |
Loss Contingency, Information about Litigation Matters [Abstract] | ' |
Legal Proceedings. | ' |
13. LEGAL PROCEEDINGS | |
Based on an internal investigation, we identified conduct in certain of our overseas operations that may have violated the anti-bribery provisions of the United States Foreign Corrupt Practices Act (FCPA) and is likely to have violated the FCPA's books and records and internal controls provisions and our own internal policies. In May 2010, we voluntarily disclosed these matters to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), each of which commenced an investigation. The Audit Committee of our Board of Directors (Audit Committee) assumed direct responsibility for reviewing these matters and hired experienced independent counsel to conduct an investigation and provide legal advice. We provided additional information to the DOJ and the SEC as the Audit Committee's investigation progressed. We continue to cooperate with the DOJ and SEC investigations and to provide information to them. | |
The DOJ and SEC investigations are continuing and we are presently unable to predict the duration, scope or results of these investigations or whether either agency will commence any legal actions. The DOJ and the SEC have a broad range of civil and criminal sanctions under the FCPA and other laws and regulations including, but not limited to, injunctive relief, disgorgement, fines, penalties, modifications to business practices including the termination or modification of existing business relationships, the imposition of compliance programs and the retention of a monitor to oversee compliance with the FCPA. While we have recently begun discussions with the DOJ and SEC concerning a resolution of these matters, we are unable to estimate a range of reasonably possible | |
outcomes of this matter that differs from our aggregate accrual recorded in the third quarter of 2013 of $20.0 million, including interest. The imposition of any of these sanctions or remedial measures could have a material adverse effect on our business or financial condition. We have not to date determined whether any of the activities in question violated the laws of the foreign jurisdictions in which they took place. | |
On April 13, 2011, a shareholder derivative lawsuit was filed against each of our directors in the Superior Court for Contra Costa County, California. The case, which also names the Company as a nominal defendant, is captioned City of Riviera Beach General Employees' Retirement System v. David Schwartz, et al., Case No. MSC11-00854. In the complaint, the plaintiff alleges that our directors breached their fiduciary duties by failing to ensure that we had sufficient internal controls and systems for compliance with the FCPA. Purportedly seeking relief on our behalf, the plaintiff seeks an award of unspecified compensatory and punitive damages, costs and expenses (including attorneys' fees), and a declaration that our directors have breached their fiduciary duties. We and the individual defendants filed a demurrer requesting dismissal of the complaint in this case, as well as a motion to stay this matter pending resolution of the above-referenced investigations by the DOJ and SEC. Following a hearing on September 30, 2011, the court sustained our demurrer and dismissed the complaint, without prejudice, and granted the plaintiff additional time to file an amended complaint. The court denied our motion to stay this matter because it dismissed the complaint. The parties have agreed to a stipulated dismissal of this case, without prejudice, and to a tolling of the statute of limitations pending the resolution of the DOJ and SEC investigations. | |
In addition, we are party to various other claims, legal actions and complaints arising in the ordinary course of business. We do not believe, at this time, that any ultimate liability resulting from any of these other matters will have a material adverse effect on our results of operations, financial position or liquidity. However, we cannot give any assurance regarding the ultimate outcome of these other matters and their resolution could be material to our operating results for any particular period, depending on the level of income for the period. |
1_Basis_of_Presentation_and_Us
1. Basis of Presentation and Use of Estimates Immaterial Errors Correction Associated With Presentation (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||
Schedule of Quantifying Prior Year Misstatements Corrected in Current Year Financial Statements [Table Text Block] | ' | |||||||||||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Operations giving effect to the errors and the reclassification described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Cost of goods sold | $ | 224,927 | $ | 654,784 | $ | 914,077 | $ | 894,700 | $ | 835,310 | ||||||||
Selling, general and administrative expense | $ | 160,134 | $ | 492,913 | $ | 681,778 | $ | 695,984 | $ | 634,413 | ||||||||
Research and development expense | $ | 47,795 | $ | 150,637 | $ | 209,204 | $ | 177,604 | $ | 166,486 | ||||||||
Provision for income taxes | $ | 12,383 | $ | 48,375 | $ | 64,729 | $ | 67,034 | $ | 39,533 | ||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Comprehensive Income giving effect to the errors described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Net unrealized holding gains on AFS investments, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | $21,023 | $52,219 | $65,448 | $12,663 | $15,495 | |||||||||||||
Income taxes on net unrealized holding gains on AFS investments; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | $12,240 | $30,405 | $38,108 | $7,373 | $9,022 | |||||||||||||
Reclassification adjustments for net holding (gains) losses on AFS investments included in Net income including noncontrolling interests, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | ($719) | ($4,973) | ($5,045) | $104 | ($385) | |||||||||||||
Income taxes on reclassification adjustments for net holding gains/losses on AFS investments included in Net income including noncontrolling interests; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | ($418) | ($2,895) | ($2,937) | $61 | ($224) |
1_Basis_of_Presentation_and_Us1
1. Basis of Presentation and Use of Estimates Immaterial Errors and Reclassification (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
1. Basis of Presentation and Use of Estimates [Abstract] | ' | |||||||||||||||||
Schedule of Quantifying Prior Year Misstatements Corrected in Current Year Financial Statements [Table Text Block] | ' | |||||||||||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Operations giving effect to the errors and the reclassification described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Cost of goods sold | $ | 224,927 | $ | 654,784 | $ | 914,077 | $ | 894,700 | $ | 835,310 | ||||||||
Selling, general and administrative expense | $ | 160,134 | $ | 492,913 | $ | 681,778 | $ | 695,984 | $ | 634,413 | ||||||||
Research and development expense | $ | 47,795 | $ | 150,637 | $ | 209,204 | $ | 177,604 | $ | 166,486 | ||||||||
Provision for income taxes | $ | 12,383 | $ | 48,375 | $ | 64,729 | $ | 67,034 | $ | 39,533 | ||||||||
Following are the amounts in thousands that should have been reported for the Consolidated Statements of Comprehensive Income giving effect to the errors described above: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||
30-Sep-12 | 30-Sep-12 | 2012 | 2011 | 2010 | ||||||||||||||
Net unrealized holding gains on AFS investments, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | $21,023 | $52,219 | $65,448 | $12,663 | $15,495 | |||||||||||||
Income taxes on net unrealized holding gains on AFS investments; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | $12,240 | $30,405 | $38,108 | $7,373 | $9,022 | |||||||||||||
Reclassification adjustments for net holding (gains) losses on AFS investments included in Net income including noncontrolling interests, net of income tax; understated by $1,438, $9,946, $10,090 and $770 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $208 for the year ended 2011. | ($719) | ($4,973) | ($5,045) | $104 | ($385) | |||||||||||||
Income taxes on reclassification adjustments for net holding gains/losses on AFS investments included in Net income including noncontrolling interests; understated by $836, $5,790, $5,874 and $448 for the three and nine months ended September 30, 2012, and for the years ended 2012 and 2010, respectively, and overstated by $121 for the year ended 2011. | ($418) | ($2,895) | ($2,937) | $61 | ($224) |
3_Fair_Value_Measurements_Tabl
3. Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||
Schedule of financial assets and liabilities carried at fair value on a recurring basis | ' | |||||||||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis as of September 30, 2013 are classified in the hierarchy as follows (in millions): | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial Assets Carried at Fair Value: | ||||||||||||||||||||
Cash equivalents (a): | ||||||||||||||||||||
Commercial paper | $ | — | $ | 14 | $ | — | $ | 14 | ||||||||||||
Foreign time deposits | 11.4 | — | — | 11.4 | ||||||||||||||||
Money market funds | 0.2 | — | — | 0.2 | ||||||||||||||||
Total cash equivalents | 11.6 | 14 | — | 25.6 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 120.3 | — | 120.3 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 8.9 | — | 8.9 | ||||||||||||||||
U.S. government sponsored agencies | — | 42.3 | — | 42.3 | ||||||||||||||||
Foreign government obligations | — | 6.9 | — | 6.9 | ||||||||||||||||
Municipal obligations | — | 10.6 | — | 10.6 | ||||||||||||||||
Marketable equity securities | 303.5 | — | — | 303.5 | ||||||||||||||||
Asset-backed securities | — | 51.6 | — | 51.6 | ||||||||||||||||
Total available-for-sale investments | 303.5 | 240.6 | — | 544.1 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 0.9 | — | 0.9 | ||||||||||||||||
Total financial assets carried at fair value | $ | 315.1 | $ | 255.5 | $ | — | $ | 570.6 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 1.1 | $ | — | $ | 1.1 | ||||||||||||
Contingent consideration (e) | — | — | 25.2 | 25.2 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 1.1 | $ | 25.2 | $ | 26.3 | ||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2012 are classified in the hierarchy as follows (in millions): | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial Assets Carried at Fair Value: | ||||||||||||||||||||
Cash equivalents (a): | ||||||||||||||||||||
Commercial paper | $ | — | $ | 52.8 | $ | — | $ | 52.8 | ||||||||||||
Foreign time deposits | 10.1 | — | — | 10.1 | ||||||||||||||||
U.S. government sponsored agencies | — | 1.3 | — | 1.3 | ||||||||||||||||
Money market funds | 5.5 | — | — | 5.5 | ||||||||||||||||
Total cash equivalents | 15.6 | 54.1 | — | 69.7 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 240.6 | — | 240.6 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 0.4 | — | 0.4 | ||||||||||||||||
U.S. government sponsored agencies | — | 92.7 | — | 92.7 | ||||||||||||||||
Foreign government obligations | — | 5.6 | — | 5.6 | ||||||||||||||||
Municipal obligations | — | 12.1 | — | 12.1 | ||||||||||||||||
Marketable equity securities | 242.1 | — | — | 242.1 | ||||||||||||||||
Asset-backed securities | — | 82.2 | — | 82.2 | ||||||||||||||||
Total available-for-sale investments | 242.1 | 433.6 | — | 675.7 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 1.1 | — | 1.1 | ||||||||||||||||
Total financial assets carried at fair value | $ | 257.7 | $ | 488.8 | $ | — | $ | 746.5 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 0.8 | $ | — | $ | 0.8 | ||||||||||||
Contingent consideration (e) | — | — | 52.6 | 52.6 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 0.8 | $ | 52.6 | $ | 53.4 | ||||||||||||
(a) | Cash equivalents are included in Cash and cash equivalents in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(b) | Available-for-sale investments are included in the following accounts in the Condensed Consolidated Balance Sheets (in millions): | |||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Short-term investments | $ | 270 | $ | 457.7 | ||||||||||||||||
Other investments | 274.1 | 218 | ||||||||||||||||||
Total | $ | 544.1 | $ | 675.7 | ||||||||||||||||
(c) | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(d) | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||
(e) | Contingent consideration liability is included in the following accounts in the Condensed Consolidated Balance Sheets (in millions): | |||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Other current liabilities | $ | 6.9 | $ | 27.3 | ||||||||||||||||
Other long-term liabilities | 18.3 | 25.3 | ||||||||||||||||||
Total | $ | 25.2 | $ | 52.6 | ||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||
The following table provides a reconciliation of the Level 3 contingent consideration liabilities measured at estimated fair value based on original valuations and updated quarterly for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||||||
1-Jan | $ | 52.6 | ||||||||||||||||||
Payment of development milestone - QuantaLife | (6.0 | ) | ||||||||||||||||||
Payment of development milestone - Cell sorting system | (20.0 | ) | ||||||||||||||||||
Decrease in estimated fair value of contingent consideration included in Selling, general and administrative expense - QuantaLife | (2.0 | ) | ||||||||||||||||||
Increase in estimated fair value of contingent consideration included in Selling, general and administrative expense - Cell sorting system | 0.6 | |||||||||||||||||||
30-Sep | $ | 25.2 | ||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | |||||||||||||||||||
The following table provides quantitative information about Level 3 inputs for fair value measurement of our contingent consideration liability as of September 30, 2013. Significant increases or decreases in these inputs in isolation could result in a significantly lower or higher fair value measurement. | ||||||||||||||||||||
Range | ||||||||||||||||||||
Valuation Technique | Unobservable Input | From | To | |||||||||||||||||
Cell sorting system | Probability-weighted income approach | Sales milestones: | ||||||||||||||||||
Credit adjusted discount rates | 1.10% | 2.00% | ||||||||||||||||||
Projected volatility of growth rate | 15.00% | N/A | ||||||||||||||||||
Market price of risk | 1.30% | N/A | ||||||||||||||||||
Discussion of current derivative risk management | ' | |||||||||||||||||||
The following is a summary of our forward foreign exchange contracts (in millions): | ||||||||||||||||||||
September 30, | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Contracts maturing in October through December 2013 to sell foreign currency: | ||||||||||||||||||||
Notional value | $ | 75.1 | ||||||||||||||||||
Unrealized loss | $ | (0.4 | ) | |||||||||||||||||
Contracts maturing in October through December 2013 to purchase foreign currency: | ||||||||||||||||||||
Notional value | $ | 401.4 | ||||||||||||||||||
Unrealized gain | $ | 0.2 | ||||||||||||||||||
Schedule of available-for-sale investments | ' | |||||||||||||||||||
Available-for-sale investments consist of the following (in millions): | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 120.4 | $ | 0.3 | $ | (0.4 | ) | $ | 120.3 | |||||||||||
Foreign brokered certificates of deposit | 8.9 | — | — | 8.9 | ||||||||||||||||
Municipal obligations | 10.7 | — | (0.1 | ) | 10.6 | |||||||||||||||
Asset-backed securities | 51.5 | — | (0.2 | ) | 51.3 | |||||||||||||||
U.S. government sponsored agencies | 42.2 | 0.1 | — | 42.3 | ||||||||||||||||
Foreign government obligations | 6.9 | — | — | 6.9 | ||||||||||||||||
Marketable equity securities | 25.1 | 4.7 | (0.1 | ) | 29.7 | |||||||||||||||
265.7 | 5.1 | (0.8 | ) | 270 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 219.3 | — | 273.8 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
54.9 | 219.3 | (0.1 | ) | 274.1 | ||||||||||||||||
Total | $ | 320.6 | $ | 224.4 | $ | (0.9 | ) | $ | 544.1 | |||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 239.3 | $ | 1.4 | $ | (0.1 | ) | $ | 240.6 | |||||||||||
Foreign brokered certificates of deposit | 0.4 | — | — | 0.4 | ||||||||||||||||
Municipal obligations | 12 | 0.1 | — | 12.1 | ||||||||||||||||
Asset-backed securities | 81.6 | 0.4 | (0.1 | ) | 81.9 | |||||||||||||||
U.S. government sponsored agencies | 92.5 | 0.3 | (0.1 | ) | 92.7 | |||||||||||||||
Foreign government obligations | 5.4 | — | — | 5.4 | ||||||||||||||||
Marketable equity securities | 24.1 | 0.7 | (0.2 | ) | 24.6 | |||||||||||||||
455.3 | 2.9 | (0.5 | ) | 457.7 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 163 | — | 217.5 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
Foreign government obligations | 0.2 | — | — | 0.2 | ||||||||||||||||
55.1 | 163 | (0.1 | ) | 218 | ||||||||||||||||
Total | $ | 510.4 | $ | 165.9 | $ | (0.6 | ) | $ | 675.7 | |||||||||||
Summary of fair value of gross unrealized losses for investments with unrealized losses | ' | |||||||||||||||||||
The following is a summary of investments with gross unrealized losses and the associated fair value (in millions): | ||||||||||||||||||||
September 30, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Fair value of investments in a loss position 12 months or more | $ | 2.1 | $ | 0.3 | ||||||||||||||||
Fair value of investments in a loss position less than 12 months | $ | 92.3 | $ | 99 | ||||||||||||||||
Gross unrealized losses for investments in a loss position 12 months or more | $ | 0.1 | $ | 0.1 | ||||||||||||||||
Gross unrealized losses for investments in a loss position less than 12 months | $ | 0.8 | $ | 0.5 | ||||||||||||||||
Summary of amortized cost and estimated fair value of debt securities by contractual maturity date | ' | |||||||||||||||||||
The following is a summary of the amortized cost and estimated fair value of our debt securities at September 30, 2013 by contractual maturity date (in millions): | ||||||||||||||||||||
Amortized | Estimated Fair | |||||||||||||||||||
Cost | Value | |||||||||||||||||||
Mature in less than one year | $ | 86.1 | $ | 86.2 | ||||||||||||||||
Mature in one to five years | 113 | 113 | ||||||||||||||||||
Mature in more than five years | 41.9 | 41.4 | ||||||||||||||||||
Total | $ | 241 | $ | 240.6 | ||||||||||||||||
Estimated fair value of financial instruments | ' | |||||||||||||||||||
The estimated fair value of our financial instruments and the level of the fair value hierarchy within which the fair value measurement is categorized are as follows (in millions): | ||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
Carrying | Estimated | Fair Value Hierarchy Level | Carrying | Estimated | Fair Value Hierarchy Level | |||||||||||||||
Amount | Fair | Amount | Fair | |||||||||||||||||
Value | Value | |||||||||||||||||||
Other investments | $ | 354.7 | $ | 635 | 1 | $ | 293.6 | $ | 497.8 | 1 | ||||||||||
Total long-term debt, excluding leases and current maturities | $ | 423.2 | $ | 440 | 2 | $ | 720 | $ | 778.4 | 2 | ||||||||||
4_Intangible_Assets_Goodwill_a1
4. Intangible Assets, Goodwill and Other (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Changes to goodwill by segment | ' | |||||||||||||||
Changes to goodwill by segment were as follows (in millions): | ||||||||||||||||
Life | Clinical | Total | ||||||||||||||
Science | Diagnostics | |||||||||||||||
Balances as of January 1, 2013: | ||||||||||||||||
Goodwill | $ | 193.6 | $ | 330 | $ | 523.6 | ||||||||||
Accumulated impairment losses | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||
Goodwill, net | 166.4 | 329 | 495.4 | |||||||||||||
Acquisitions | 14.9 | — | 14.9 | |||||||||||||
Currency fluctuations | 0.2 | 3.2 | 3.4 | |||||||||||||
Balances as of September 30, 2013: | ||||||||||||||||
Goodwill | 208.7 | 333.2 | 541.9 | |||||||||||||
Accumulated impairment losses | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||
Goodwill, net | $ | 181.5 | $ | 332.2 | $ | 513.7 | ||||||||||
Schedule of identifiable purchased intangible assets with definite lives | ' | |||||||||||||||
Other than goodwill, we have no intangible assets with indefinite lives. Information regarding our identifiable purchased intangible assets with definite lives is as follows (in millions): | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||
Life (years) | Amount | |||||||||||||||
Customer relationships/lists | 11-Jan | $ | 105.2 | $ | (44.6 | ) | $ | 60.6 | ||||||||
Know how | 12-Feb | 193.3 | (83.2 | ) | 110.1 | |||||||||||
Developed product technology | 13-Jan | 108.4 | (33.3 | ) | 75.1 | |||||||||||
Licenses | 12-Jan | 44.7 | (21.4 | ) | 23.3 | |||||||||||
Tradenames | 10-Jan | 7.6 | (5.0 | ) | 2.6 | |||||||||||
Covenants not to compete | 9-Jul | 4.9 | (0.6 | ) | 4.3 | |||||||||||
Other | — | 0.6 | (0.5 | ) | 0.1 | |||||||||||
$ | 464.7 | $ | (188.6 | ) | $ | 276.1 | ||||||||||
December 31, 2012 | ||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||
Life (years) | Amount | |||||||||||||||
Customer relationships/lists | 12-Jan | $ | 102.8 | $ | (38.4 | ) | $ | 64.4 | ||||||||
Know how | 13-Jan | 189.3 | (67.1 | ) | 122.2 | |||||||||||
Developed product technology | 10-Jan | 74.6 | (25.1 | ) | 49.5 | |||||||||||
Licenses | 8-Jan | 35.6 | (18.7 | ) | 16.9 | |||||||||||
Tradenames | 10-Jan | 7.4 | (4.3 | ) | 3.1 | |||||||||||
Covenants not to compete | 10-Jan | 4.9 | (0.2 | ) | 4.7 | |||||||||||
Other | 1 | 0.1 | — | 0.1 | ||||||||||||
$ | 414.7 | $ | (153.8 | ) | $ | 260.9 | ||||||||||
Amortization expense related to purchased intangible assets | ' | |||||||||||||||
Amortization expense related to purchased intangible assets is as follows (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortization expense | $ | 11.3 | $ | 10.7 | $ | 33.5 | $ | 32.2 | ||||||||
5_Product_Warranty_Liability_T
5. Product Warranty Liability (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
Components of warranty accrual | ' | |||
Components of the warranty accrual, included in Other current liabilities and Other long-term liabilities in the Condensed Consolidated Balance Sheets, were as follows (in millions): | ||||
1-Jan-13 | $ | 16.4 | ||
Provision for warranty | 10.6 | |||
Actual warranty costs | (12.1 | ) | ||
September 30, 2013 | $ | 14.9 | ||
6_LongTerm_Debt_Tables
6. Long-Term Debt (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||
The principal components of long-term debt are as follows (in millions): | ||||||||
September 30, | December 31, 2012 | |||||||
2013 | ||||||||
8.0% Senior Subordinated Notes due 2016 | $ | — | $ | 296.9 | ||||
4.875% Senior Notes due 2020 | 423.2 | 423 | ||||||
Capital leases and other debt | 12.5 | 12.7 | ||||||
435.7 | 732.6 | |||||||
Less current maturities | (0.2 | ) | (0.2 | ) | ||||
Long-term debt | $ | 435.5 | $ | 732.4 | ||||
7_Noncontrolling_Interest_Tabl
7. Noncontrolling Interest (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Activity in noncontrolling interests | ' | |||
Activity in noncontrolling interests is as follows (in millions): | ||||
1-Jan-13 | $ | 0.5 | ||
Net income attributable to noncontrolling interests | — | |||
Purchase of noncontrolling interests | (0.6 | ) | ||
Currency fluctuations | 0.1 | |||
September 30, 2013 | $ | — | ||
8_Accumulated_Other_Comprehens1
8. Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
Changes to Accumulated other comprehensive income components are shown in the following table: | |||||||||||||||||||
Foreign currency translation adjustments | Other post-employment benefits adjustments | Net unrealized holding gains on available-for-sale investments | Bio-Rad Accumulated other comprehensive income | Non-controlling interests | Total Accumulated other comprehensive income | ||||||||||||||
Balance at | $ | 172.9 | $ | (8.1 | ) | $ | 109.7 | $ | 274.5 | $ | (0.2 | ) | $ | 274.3 | |||||
1-Jan-13 | |||||||||||||||||||
Other comprehensive income, net of income taxes before reclassifications | 5.1 | — | 36.7 | 41.8 | — | 41.8 | |||||||||||||
Amounts reclassified from Accumulated other comprehensive income | (0.2 | ) | — | 0.2 | — | 0.2 | 0.2 | ||||||||||||
Net Other comprehensive income, net of income taxes | 4.9 | — | 36.9 | 41.8 | 0.2 | 42 | |||||||||||||
Balance at September 30, 2013 | $ | 177.8 | $ | (8.1 | ) | $ | 146.6 | $ | 316.3 | $ | — | $ | 316.3 | ||||||
Reclassification Out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||||||||
Reclassifications from Accumulated other comprehensive income for the period ended September 30, 2013 are summarized in the following table: | |||||||||||||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item in the statement where net income is presented | |||||||||||||||||
Net holding losses on available-for-sale investments | $ | 0.2 | Other (income) expense, net | ||||||||||||||||
— | Income tax expense | ||||||||||||||||||
$ | 0.2 | Net of income taxes | |||||||||||||||||
9_Earnings_Per_Share_Tables
9. Earnings Per Share (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of weighted-average common shares outstanding used to calculate basic and diluted earnings per shares and the anti-dilutive shares | ' | |||||||||||
The weighted average number of common shares outstanding used to calculate basic and diluted (loss) earnings per share, and the anti-dilutive shares that are excluded from the diluted earnings per share calculation are as follows (in thousands): | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Basic weighted average shares outstanding | 28,603 | 28,312 | 28,545 | 28,255 | ||||||||
Effect of potentially dilutive stock options and restricted stock awards | — | 333 | 325 | 354 | ||||||||
Diluted weighted average common shares | 28,603 | 28,645 | 28,870 | 28,609 | ||||||||
Anti-dilutive shares | 416 | 94 | 95 | 106 | ||||||||
10_Other_Income_and_Expenses_T
10. Other Income and Expenses (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||||||
Schedule of other income (expense), net | ' | |||||||||||||||
Other (income) expense, net includes the following components (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest and investment income | $ | (1.1 | ) | $ | (1.0 | ) | $ | (10.2 | ) | $ | (7.9 | ) | ||||
Net realized losses (gains) on investments | 0.5 | (1.1 | ) | 0.2 | (8.5 | ) | ||||||||||
Miscellaneous other (income) expense items, net | (0.1 | ) | 0.6 | (0.7 | ) | 1.7 | ||||||||||
Other (income) expense, net | $ | (0.7 | ) | $ | (1.5 | ) | $ | (10.7 | ) | $ | (14.7 | ) |
12_Segment_Information_Tables
12. Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Information regarding industry segments | ' | |||||||||||||||
Information regarding industry segments for the three months ended September 30, 2013 and 2012 is as follows (in millions): | ||||||||||||||||
Life | Clinical | Other | ||||||||||||||
Science | Diagnostics | Operations | ||||||||||||||
Segment net sales | 2013 | $ | 162.9 | $ | 338.8 | $ | 3.4 | |||||||||
2012 | $ | 167 | $ | 328.4 | $ | 3.3 | ||||||||||
Segment (loss) profit | 2013 | $ | (8.5 | ) | $ | 43 | $ | — | ||||||||
2012 | $ | 6.8 | $ | 48.2 | $ | — | ||||||||||
Information regarding industry segments for the nine months ended September 30, 2013 and 2012 is as follows (in millions): | ||||||||||||||||
Life | Clinical | Other | ||||||||||||||
Science | Diagnostics | Operations | ||||||||||||||
Segment net sales | 2013 | $ | 489.5 | $ | 1,030.20 | $ | 10.4 | |||||||||
2012 | $ | 484.2 | $ | 999.6 | $ | 11.6 | ||||||||||
Segment (loss) profit | 2013 | $ | (28.9 | ) | $ | 130.6 | $ | 0.3 | ||||||||
2012 | $ | 9.4 | $ | 151.8 | $ | 1.8 | ||||||||||
Reconciliation of segment profit to consolidated income before taxes | ' | |||||||||||||||
The following reconciles total segment profit to consolidated (loss) income before taxes (in millions): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total segment profit | $ | 34.5 | $ | 55 | $ | 102 | $ | 163 | ||||||||
Foreign exchange losses, net | (3.3 | ) | (0.4 | ) | (5.7 | ) | (3.5 | ) | ||||||||
Net corporate operating, interest and other expense not allocated to segments | (37.1 | ) | (1.1 | ) | (39.1 | ) | (3.5 | ) | ||||||||
Other income (expense), net | 0.7 | 1.5 | 10.7 | 14.7 | ||||||||||||
Consolidated (loss) income before income taxes | $ | (5.2 | ) | $ | 55 | $ | 67.9 | $ | 170.7 | |||||||
1_Basis_of_Presentation_and_Us2
1. Basis of Presentation and Use of Estimates Immaterial Errors Related to Presentation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Income Tax On Net Unrealized Holding Gain (Loss) [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | Cost of goods sold, immaterial error [Member] | Cost of goods sold, immaterial error [Member] | Cost of goods sold, immaterial error [Member] | Cost of goods sold, immaterial error [Member] | Cost of goods sold, immaterial error [Member] | Selling, General And Administrative Expense, Immaterial Error [Member] | Selling, General And Administrative Expense, Immaterial Error [Member] | Selling, General And Administrative Expense, Immaterial Error [Member] | Selling, General And Administrative Expense, Immaterial Error [Member] | Selling, General And Administrative Expense, Immaterial Error [Member] | Research and development expense, reclassification [Member] | Research and development expense, reclassification [Member] | Research and development expense, reclassification [Member] | Research and development expense, reclassification [Member] | Research and development expense, reclassification [Member] | Provision for income taxes [Member] | Provision for income taxes [Member] | Provision for income taxes [Member] | Provision for income taxes [Member] | Provision for income taxes [Member] | |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $12,240 | $30,405 | $38,108 | $7,373 | $9,022 | ($719) | ($4,973) | ($5,045) | $104 | ($385) | ($418) | ($2,895) | ($2,937) | $61 | ($224) | $21,023 | $52,219 | $65,448 | $12,663 | $15,495 | ($836) | ($5,790) | ($5,874) | $121 | ($448) | ($1,438) | ($9,946) | ($10,090) | $208 | ($770) | ($836) | ($5,790) | ($5,874) | $121 | ($448) | ($1,438) | ($9,946) | ($10,090) | $208 | ($770) | $224,927 | $654,784 | $914,077 | $894,700 | $835,310 | $160,134 | $492,913 | $681,778 | $695,984 | $634,413 | $47,795 | $150,637 | $209,204 | $177,604 | $166,486 | $12,383 | $48,375 | $64,729 | $67,034 | $39,533 |
1_Basis_of_Presentation_and_Us3
1. Basis of Presentation and Use of Estimates Immaterial Errors Inventory Costing (Details) (Net Income [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
2008 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $600 |
2009 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 800 |
2010 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 700 |
2011 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 800 |
2012 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 1,300 |
Third Quarter 2013 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 300 |
September 2013 YTD [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $1,000 |
1_Basis_of_Presentation_and_Us4
1. Basis of Presentation and Use of Estimates Reclassification R&D Credits (Details) (Research and Development Expense [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
2010 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | ($5,800) |
2011 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -8,800 |
2012 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -4,800 |
Third Quarter 2013 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -1,200 |
September 2013 YTD [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | ($3,600) |
2_Acquisitions_Details
2. Acquisitions (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 10, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Aug. 31, 2012 | Jul. 30, 2012 | Jul. 30, 2012 | Jan. 18, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 |
USD ($) | USD ($) | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | CellSorter [Member] | CellSorter [Member] | Benelux [Member] | Benelux [Member] | Portland [Member] | Fair Value, Measurements, Recurring [Member] | Development [Member] | Sales milestone minimum payment [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | Estimate of Fair Value, Fair Value Disclosure [Member] | CellSorter [Member] | CellSorter [Member] | |||
CellSorter [Member] | USD ($) | USD ($) | |||||||||||
USD ($) | |||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Acquired from Acquisition | ' | ' | ' | ' | $7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Purchase Accounting Adjustments | ' | ' | ' | -2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
bio_NetAssetPurchaseAccountingAdjustment | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | 62,200,000 | ' | ' | ' | 49,600,000 | 5,600,000 | 4,600,000 | 12,500,000 | ' | ' | ' |
Goodwill | 513,705,000 | 495,418,000 | 14,900,000 | ' | ' | ' | 17,400,000 | 3,000,000 | ' | 1,100,000 | ' | ' | ' |
Finite-lived Intangible Assets Acquired | ' | ' | 44,000,000 | ' | ' | ' | 32,100,000 | 4,900,000 | ' | 5,100,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | 3,300,000 | ' | ' | ' | 100,000 | -2,300,000 | ' | 6,300,000 | ' | ' | ' |
Employment agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $44,600,000 | $19,900,000 | $24,700,000 |
3_Fair_Value_Measurements_Fair
3. Fair Value Measurements Fair Value Level Table (Details) (USD $) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Foreign Time Deposits [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Money Market Funds [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Other Current Liabilities [Member] | Other Current Liabilities [Member] | Other Noncurrent Liabilities [Member] | Other Noncurrent Liabilities [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Other Investments [Member] | Other Investments [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Foreign Brokered Certificates of Deposit [Member] | Foreign Brokered Certificates of Deposit [Member] | US Government Sponsored Agencies [Member] | US Government Sponsored Agencies [Member] | Foreign Government Obligations [Member] | Foreign Government Obligations [Member] | Municipal obligations [Member] | Municipal obligations [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Equivalents | ' | ' | ' | ' | $11,600,000 | [1] | $15,600,000 | [1] | $14,000,000 | [1] | $54,100,000 | [1] | $0 | [1] | $0 | [1] | $25,600,000 | [1] | $69,700,000 | [1] | $1,300,000 | [1] | $0 | [1] | $1,300,000 | [1] | $0 | [1] | $0 | [1] | $14,000,000 | [1] | $52,800,000 | [1] | $0 | [1] | $0 | [1] | $14,000,000 | [1] | $52,800,000 | [1] | $11,400,000 | [1] | $10,100,000 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $11,400,000 | [1] | $10,100,000 | [1] | $200,000 | [1] | $5,500,000 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $200,000 | [1] | $5,500,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Fair Value Disclosure | ' | ' | 544,100,000 | 675,700,000 | 303,500,000 | [2] | 242,100,000 | [2] | 240,600,000 | [2] | 433,600,000 | [2] | 0 | [2] | 0 | [2] | 544,100,000 | [2] | 675,700,000 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [2] | 0 | [2] | 120,300,000 | [2] | 240,600,000 | [2] | 0 | [2] | 0 | [2] | 120,300,000 | [2] | 240,600,000 | [2] | 0 | [2] | 0 | [2] | 8,900,000 | [2] | 400,000 | [2] | 0 | [2] | 0 | [2] | 8,900,000 | [2] | 400,000 | [2] | 0 | [2] | 0 | [2] | 42,300,000 | [2] | 92,700,000 | [2] | 0 | [2] | 0 | [2] | 42,300,000 | [2] | 92,700,000 | [2] | 0 | [2] | 0 | [2] | 6,900,000 | [2] | 5,600,000 | [2] | 0 | [2] | 0 | [2] | 6,900,000 | [2] | 5,600,000 | [2] | 0 | [2] | 0 | [2] | 10,600,000 | [2] | 12,100,000 | [2] | 0 | [2] | 0 | [2] | 10,600,000 | [2] | 12,100,000 | [2] | 303,500,000 | [2] | 242,100,000 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | 303,500,000 | [2] | 242,100,000 | [2] | 0 | [2] | 0 | [2] | 51,600,000 | [2] | 82,200,000 | [2] | 0 | [2] | 0 | [2] | 51,600,000 | [2] | 82,200,000 | [2] | ' | ' | ' | ' | 270,000,000 | 457,700,000 | 120,300,000 | 240,600,000 | 8,900,000 | 400,000 | 42,300,000 | 92,700,000 | 6,900,000 | 5,400,000 | 10,600,000 | 12,100,000 | 29,700,000 | 24,600,000 | 51,300,000 | 81,900,000 | 274,100,000 | 218,000,000 | |||||||||||||||||||||||||||
Forward Foreign Exchange Contracts, Asset, Fair Value Disclosure | ' | ' | ' | ' | 0 | [3] | 0 | [3] | 900,000 | [3] | 1,100,000 | [3] | 0 | [3] | 0 | [3] | 900,000 | [3] | 1,100,000 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets, Fair Value Disclosure | ' | ' | ' | ' | 315,100,000 | 257,700,000 | 255,500,000 | 488,800,000 | 0 | 0 | 570,600,000 | 746,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Foreign Exchange Contracts, Liability, Fair Value Disclosure | ' | ' | ' | ' | 0 | [4] | 0 | [4] | 1,100,000 | [4] | 800,000 | [4] | 0 | [4] | 0 | [4] | 1,100,000 | [4] | 800,000 | [4] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | -1,347,000 | -15,984,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities, Fair Value Disclosure | ' | ' | ' | ' | 0 | 0 | 1,100,000 | 800,000 | 25,200,000 | 52,600,000 | 26,300,000 | 53,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingent Consideration at Fair Value | ' | ' | ' | ' | $0 | [5] | $0 | [5] | $0 | [5] | $0 | [5] | $25,200,000 | [5] | $52,600,000 | [5] | $25,200,000 | [5] | $52,600,000 | [5] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,900,000 | $27,300,000 | $18,300,000 | $25,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Cash equivalents are included in Cash and cash equivalents in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Available-for-sale investments are included in the following accounts in the Condensed Consolidated Balance Sheets (in millions):B SeptemberB 30, 2013B DecemberB 31, 2012Short-term investments$270.0B $457.7Other investments274.1B 218.0Total$544.1B $675.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Contingent consideration liability is included in the following accounts in the Condensed Consolidated Balance Sheets (in millions):B SeptemberB 30, 2013B DecemberB 31, 2012Other current liabilities$6.9B $27.3Other long-term liabilities18.3B 25.3 Total$25.2B $52.6 |
3_Fair_Value_Measurements_3_Co
3. Fair Value Measurements 3. Contingent Consideration (Details) (USD $) | 1 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||
Jan. 31, 2013 | Oct. 04, 2011 | Sep. 30, 2013 | Aug. 31, 2012 | Aug. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||||
QuantaLife [Member] | QuantaLife [Member] | CellSorter [Member] | Development [Member] | Sales [Member] | Development milestone maximum payment [Member] | Sales milestone minimum payment [Member] | Sales milestone year 1 maximum payment percentage [Member] | Sales milestone year 2 maximum payment percentage [Member] | Sales milestone year 3 maximum payment percentage [Member] | Credit Adjusted Discount Rates Lower [Member] | Credit Adjusted Discount Rate Higher [Member] | Market Price of Risk [Member] | Projected Volatility of Sales [Member] | Sales Milestone year 1 bookings [Member] | Sales milestone year 2 bookings [Member] | Sales milestone year 3 bookings [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | |||||||
CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
QuantaLife [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | ||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Business Acquisition, Contingent Consideration, at Fair Value | ' | $24,100,000 | ' | $19,900,000 | $24,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $44,600,000 | ' | ' | ' | ' | ||||||
Contingent consideration milestone payments | -6,000,000 | ' | -20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
(Decrease) increase in fair value of contingent consideration included in SGA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,000,000 | 600,000 | ' | ' | ' | ' | ' | ' | ||||||
Contingent Consideration at Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,200,000 | [1] | 52,600,000 | [1] | ' | 25,200,000 | 44,600,000 | ' | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | $48,000,000 | ' | ' | ' | $20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $20,000,000 | $30,000,000 | $45,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Business Acquisition, Contingent Consideration, Potential Percentage Payout | ' | ' | ' | ' | ' | ' | ' | 60.00% | 51.32% | 50.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Contingent Consideration Level 3 Inputs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '0.0109 | '0.0204 | '0.013 | '0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | Contingent consideration liability is included in the following accounts in the Condensed Consolidated Balance Sheets (in millions):B SeptemberB 30, 2013B DecemberB 31, 2012Other current liabilities$6.9B $27.3Other long-term liabilities18.3B 25.3 Total$25.2B $52.6 |
3_Foreign_Exchange_Forward_Con
3. Foreign Exchange Forward Contracts (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Derivatives, Fair Value [Line Items] | ' |
Unrealized (Loss) on contracts maturing in October through December 2013 to sell foreign currency | ($0.40) |
Unrealized Gain on contracts maturing in October through December 2013 to purchase foreign currency | 0.2 |
Contracts maturing in October through December 2013 to sell foreign currency [Member] | ' |
Derivatives, Fair Value [Line Items] | ' |
Notional value | 75.1 |
Contracts maturing in October through December 2013 to purchase foreign currency [Member] | ' |
Derivatives, Fair Value [Line Items] | ' |
Notional value | $401.40 |
3_AvailableforSale_Investments
3. Available-for-Sale Investments (Details) (Fair Value, Measurements, Recurring [Member], USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | $320.60 | $320.60 | $510.40 | |||
Unrealized Gains | 224.4 | 165.9 | ' | |||
Unrealized Losses | -0.9 | -0.6 | ' | |||
Estimated Fair Value | 544.1 | 544.1 | 675.7 | |||
Other Long-term Investments [Member] | Asset-backed Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 0.4 | 0.4 | 0.4 | |||
Unrealized Gains | 0 | 0 | ' | |||
Unrealized Losses | -0.1 | -0.1 | ' | |||
Estimated Fair Value | 0.3 | 0.3 | 0.3 | |||
Other Long-term Investments [Member] | Marketable Equity Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 54.5 | 54.5 | 54.5 | |||
Unrealized Gains | 219.3 | 163 | ' | |||
Unrealized Losses | 0 | 0 | ' | |||
Estimated Fair Value | 273.8 | 273.8 | 217.5 | |||
Other Long-term Investments [Member] | Available-for-sale Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 54.9 | 54.9 | 55.1 | |||
Unrealized Gains | 219.3 | 163 | ' | |||
Unrealized Losses | -0.1 | -0.1 | ' | |||
Estimated Fair Value | 274.1 | 274.1 | 218 | |||
Other Long-term Investments [Member] | Foreign Government Obligations [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | ' | ' | 0.2 | |||
Unrealized Gains | ' | 0 | ' | |||
Unrealized Losses | ' | 0 | ' | |||
Estimated Fair Value | ' | ' | 0.2 | |||
Short-term Investments [Member] | Corporate Debt Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 120.4 | 120.4 | 239.3 | |||
Unrealized Gains | 0.3 | 1.4 | ' | |||
Unrealized Losses | -0.4 | -0.1 | ' | |||
Estimated Fair Value | 120.3 | 120.3 | 240.6 | |||
Short-term Investments [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 8.9 | 8.9 | 0.4 | |||
Unrealized Gains | 0 | 0 | ' | |||
Unrealized Losses | 0 | 0 | ' | |||
Estimated Fair Value | 8.9 | 8.9 | 0.4 | |||
Short-term Investments [Member] | Municipal obligations [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 10.7 | 10.7 | 12 | |||
Unrealized Gains | 0 | 0.1 | ' | |||
Unrealized Losses | -0.1 | 0 | ' | |||
Estimated Fair Value | 10.6 | 10.6 | 12.1 | |||
Short-term Investments [Member] | Asset-backed Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 51.5 | 51.5 | 81.6 | |||
Unrealized Gains | 0 | 0.4 | ' | |||
Unrealized Losses | -0.2 | -0.1 | ' | |||
Estimated Fair Value | 51.3 | 51.3 | 81.9 | |||
Short-term Investments [Member] | Marketable Equity Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 25.1 | 25.1 | 24.1 | |||
Unrealized Gains | 4.7 | 0.7 | ' | |||
Unrealized Losses | -0.1 | -0.2 | ' | |||
Estimated Fair Value | 29.7 | 29.7 | 24.6 | |||
Short-term Investments [Member] | Available-for-sale Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 265.7 | 265.7 | 455.3 | |||
Unrealized Gains | 5.1 | 2.9 | ' | |||
Unrealized Losses | -0.8 | -0.5 | ' | |||
Estimated Fair Value | 270 | 270 | 457.7 | |||
Short-term Investments [Member] | US Government Sponsored Agencies [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 42.2 | 42.2 | 92.5 | |||
Unrealized Gains | 0.1 | 0.3 | ' | |||
Unrealized Losses | 0 | -0.1 | ' | |||
Estimated Fair Value | 42.3 | 42.3 | 92.7 | |||
Short-term Investments [Member] | Foreign Government Obligations [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 6.9 | 6.9 | 5.4 | |||
Unrealized Gains | 0 | 0 | ' | |||
Unrealized Losses | 0 | 0 | ' | |||
Estimated Fair Value | 6.9 | 6.9 | 5.4 | |||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 544.1 | [1] | 544.1 | [1] | 675.7 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Corporate Debt Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 120.3 | [1] | 120.3 | [1] | 240.6 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 8.9 | [1] | 8.9 | [1] | 0.4 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Municipal obligations [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 10.6 | [1] | 10.6 | [1] | 12.1 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Asset-backed Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 51.6 | [1] | 51.6 | [1] | 82.2 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Marketable Equity Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 303.5 | [1] | 303.5 | [1] | 242.1 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | US Government Sponsored Agencies [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 42.3 | [1] | 42.3 | [1] | 92.7 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Foreign Government Obligations [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | 6.9 | [1] | 6.9 | [1] | 5.6 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Short-term Investments [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Estimated Fair Value | $270 | $270 | $457.70 | |||
[1] | Available-for-sale investments are included in the following accounts in the Condensed Consolidated Balance Sheets (in millions):B SeptemberB 30, 2013B DecemberB 31, 2012Short-term investments$270.0B $457.7Other investments274.1B 218.0Total$544.1B $675.7 |
3_Amortized_Cost_and_Fair_Valu
3. Amortized Cost and Fair Value of Debt Securities (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' |
Mature in less than one year | $86.10 |
Mature in one to five years | 113 |
Mature in more than five years | 41.9 |
Total Amortized Cost | 241 |
Mature in less than one year | 86.2 |
Mature in one to five years | 113 |
Mature in more than five years | 41.4 |
Estimated Fair Value | $240.60 |
3_Fair_Value_and_Gross_Unreali
3. Fair Value and Gross Unrealized Losses with Unrealized Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Tolerable variance Level 2 debt security pricing | ' | 1.00% | ' |
Fair Value of Investments with Gross Unrealized Losses in loss position 12 months or more | $2.10 | $2.10 | $0.30 |
Gross unrealized losses for investments in a loss position 12 months or more | 0.1 | ' | 0.1 |
Gross unrealized losses for investments in a loss position less than 12 months | 0.8 | ' | 0.5 |
Cost Method Investment, Percentage Owned | 35.00% | 35.00% | ' |
Fair Value of Investments with Gross Unrealized Losses in loss position less than 12 months | $92.30 | $92.30 | $99 |
3_Fair_Value_Financial_Instrum
3. Fair Value Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Other Investments | $354.70 | $293.60 |
Total long-term debt, excluding capital leases and current maturities | 423.2 | 720 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Other Investments | 635 | 497.8 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total long-term debt, excluding capital leases and current maturities | $440 | $778.40 |
4_Intangible_Assets_Goodwill_a2
4. Intangible Assets, Goodwill and Other (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Goodwill [Line Items] | ' | ' |
Goodwill | $541,900,000 | $523,600,000 |
Accumulated impairment loss | -28,200,000 | -28,200,000 |
Goodwill, net | 513,705,000 | 495,418,000 |
Goodwill, Acquired During Period | 14,900,000 | ' |
Currency fluctuations | 3,400,000 | ' |
Life Science [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 208,700,000 | 193,600,000 |
Accumulated impairment loss | -27,200,000 | -27,200,000 |
Goodwill, net | 181,500,000 | 166,400,000 |
Goodwill, Acquired During Period | 14,900,000 | ' |
Currency fluctuations | 200,000 | ' |
Clinical Diagnostics [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 333,200,000 | 330,000,000 |
Accumulated impairment loss | -1,000,000 | -1,000,000 |
Goodwill, net | 332,200,000 | 329,000,000 |
Goodwill, Acquired During Period | 0 | ' |
Currency fluctuations | $3,200,000 | ' |
4_Intangible_Assets_Goodwill_a3
4. Intangible Assets, Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 10, 2013 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Customer Relationships [Member] | Customer Relationships [Member] | Know how [Member] | Know how [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Licensing Agreements [Member] | Licensing Agreements [Member] | Trade Names [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | Other Intangible Assets [Member] | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||||
Customer Relationships [Member] | Developed Technology Rights [Member] | Licensing Agreements [Member] | Trade Names [Member] | Other Intangible Assets [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Know how [Member] | Know how [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Licensing Agreements [Member] | Licensing Agreements [Member] | Trade Names [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | Other Intangible Assets [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Know how [Member] | Know how [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Licensing Agreements [Member] | Licensing Agreements [Member] | Trade Names [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | Other Intangible Assets [Member] | |||||||||||||||||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Goodwill Amount | $513,705,000 | ' | $513,705,000 | ' | $495,418,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived Intangible Assets Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,000,000 | 1,300,000 | 33,000,000 | 8,800,000 | 400,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Remaining Life (years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '1 year | '2 years | '1 year | '1 year | '1 year | '1 year | '1 year | '1 year | '1 year | '7 years | '1 year | '0 years | '1 year | '11 years | '12 years | '12 years | '13 years | '13 years | '10 years | '12 years | '8 years | '10 years | '10 years | '9 years | '10 years | '0 years | '1 year |
Purchase Price | 464,700,000 | ' | 464,700,000 | ' | 414,700,000 | 105,200,000 | 102,800,000 | 193,300,000 | 189,300,000 | 108,400,000 | 74,600,000 | 44,700,000 | 35,600,000 | 7,600,000 | 7,400,000 | 4,900,000 | 4,900,000 | 600,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Amortization | -188,600,000 | ' | -188,600,000 | ' | -153,800,000 | -44,600,000 | -38,400,000 | -83,200,000 | -67,100,000 | -33,300,000 | -25,100,000 | -21,400,000 | -18,700,000 | -5,000,000 | -4,300,000 | -600,000 | -200,000 | -500,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Carrying Amount | 276,054,000 | ' | 276,054,000 | ' | 260,939,000 | 60,600,000 | 64,400,000 | 110,100,000 | 122,200,000 | 75,100,000 | 49,500,000 | 23,300,000 | 16,900,000 | 2,600,000 | 3,100,000 | 4,300,000 | 4,700,000 | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense | $11,300,000 | $10,700,000 | $33,500,000 | $32,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
5_Product_Warranty_Liability_D
5. Product Warranty Liability (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' |
Accrual at beginning of period | $16.40 |
Provision for warranty | 10.6 |
Actual warranty costs | -12.1 |
Accrual at end of period | $14.90 |
6_LongTerm_Debt_Details
6. Long-Term Debt (Details) (USD $) | 3 Months Ended | 9 Months Ended | 6 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | 31-May-09 | Sep. 30, 2013 | Dec. 31, 2012 | 31-May-09 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2010 | Sep. 30, 2013 | |
Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Line of Credit [Member] | Line of Credit [Member] | |||||
Senior Subordinated Notes 8.0% [Member] | Senior Subordinated Notes 8.0% [Member] | Senior Subordinated Notes 8.0% [Member] | Senior Notes 4.875% [Member] | Senior Notes 4.875% [Member] | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | $435,700,000 | $435,700,000 | $732,600,000 | $294,800,000 | $0 | $296,900,000 | ' | $423,200,000 | $423,000,000 | $12,500,000 | $12,700,000 | ' | ' |
Less current maturities | -200,000 | -200,000 | -200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount of debt sold | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' |
Early repayment of Subordinated Notes | 312,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption Premium | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | 2,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized Debt Issuance Expense | 1,100,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on Extinguishment of Debt | 15,600,000 | 15,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 |
Percentage of capital stock of certain foreign subsidiaries securing part of Credit Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' |
Outstanding borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Long-term Debt, Excluding Current Maturities | $435,541,000 | $435,541,000 | $732,414,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
7_Noncontrolling_Interest_Deta
7. Noncontrolling Interest (Details) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 14, 2013 | Feb. 14, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | DiaMed Spain [Member] | DiaMed Spain [Member] | DiaMed Spain [Member] | |
USD ($) | EUR (€) | USD ($) | |||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | $900,000 | € 600,000 | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests, beginning of period | ' | ' | 535,000 | ' | ' | ' | ' |
Net loss attributable to noncontrolling interest | 0 | -13,000 | 21,000 | 148,000 | ' | ' | ' |
Purchase of noncontrolling interests | ' | ' | ' | ' | ' | ' | -600,000 |
Currency fluctuations | ' | ' | 100,000 | ' | ' | ' | ' |
Noncontrolling interests, end of period | 0 | ' | 0 | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Reallocation of Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ($300,000) |
8_Accumulated_Other_Comprehens2
8. Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Other (income) expense, net | ($667,000) | ($1,511,000) | ($10,711,000) | ($14,692,000) | ' |
Accumulated other comprehensive income | 316,326,000 | ' | 316,326,000 | ' | 274,532,000 |
Total other comprehensive income (loss) net of tax | 49,301,000 | 34,557,000 | 41,958,000 | 50,100,000 | ' |
Income Tax Expense (Benefit) | 1,883,000 | 12,383,000 | 20,200,000 | 48,375,000 | ' |
Net Income (Loss) Attributable to Parent | 7,099,000 | -42,633,000 | -47,654,000 | -122,225,000 | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | 177,800,000 | ' | 177,800,000 | ' | 172,900,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 5,100,000 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | -200,000 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | 4,900,000 | ' | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | -8,100,000 | ' | -8,100,000 | ' | -8,100,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 0 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | 0 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | 0 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | 146,600,000 | ' | 146,600,000 | ' | 109,700,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 36,700,000 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | 200,000 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | 36,900,000 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Other (income) expense, net | ' | ' | 200,000 | ' | ' |
Income Tax Expense (Benefit) | ' | ' | 0 | ' | ' |
Net Income (Loss) Attributable to Parent | ' | ' | 200,000 | ' | ' |
Parent [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | 316,300,000 | ' | 316,300,000 | ' | 274,500,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 41,800,000 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | 0 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | 41,800,000 | ' | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | 0 | ' | 0 | ' | -200,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 0 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | 200,000 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | 200,000 | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | 316,300,000 | ' | 316,300,000 | ' | 274,300,000 |
Other comprehensive income before reclassifications, net of tax | ' | ' | 41,800,000 | ' | ' |
Reclassification from accumulated other comprehensive income, net of tax | ' | ' | 200,000 | ' | ' |
Total other comprehensive income (loss) net of tax | ' | ' | $42,000,000 | ' | ' |
9_Earnings_Per_Share_Details
9. Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic weighted average shares outstanding | 28,603 | 28,312 | 28,545 | 28,255 |
Effect of potentially dilutive stock options and restricted stock awards | 0 | 333 | 325 | 354 |
Diluted weighted average common shares | 28,603 | 28,645 | 28,870 | 28,609 |
Anti-dilutive shares | 416 | 94 | 95 | 106 |
10_Other_Income_and_Expenses_D
10. Other Income and Expenses (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Interest and investment income | ($1,100,000) | ($1,000,000) | ($10,200,000) | ($7,900,000) |
Net realized losses (gains) on investments | 500,000 | -1,100,000 | 200,000 | -8,500,000 |
Miscellaneous other (income) expense items, net | -100,000 | 600,000 | -700,000 | 1,700,000 |
Other (income) expense, net | $667,000 | $1,511,000 | $10,711,000 | $14,692,000 |
11_Income_Taxes_Details
11. Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Effective tax rate | -36.00% | 23.00% | 30.00% | 28.00% |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $1.40 | ' | $1.40 | ' |
U.S. Federal [Member] | ' | ' | ' | ' |
Statutory Rates | 35.00% | 35.00% | 35.00% | 35.00% |
12_Segment_Information_Details
12. Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | $505,066 | $498,697 | $1,530,059 | $1,495,396 |
Income before income taxes | -5,216 | 55,003 | 67,875 | 170,748 |
Life Science [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 162,900 | 167,000 | 489,500 | 484,200 |
Income before income taxes | -8,500 | 6,800 | -28,900 | 9,400 |
Clinical Diagnostics [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 338,800 | 328,400 | 1,030,200 | 999,600 |
Income before income taxes | 43,000 | 48,200 | 130,600 | 151,800 |
All Other Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 3,400 | 3,300 | 10,400 | 11,600 |
Income before income taxes | $0 | $0 | $300 | $1,800 |
12_Segment_Profit_Reconciliati
12. Segment Profit Reconciliation (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | 31-May-09 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | $5,216,000 | ($55,003,000) | ($67,875,000) | ($170,748,000) | ' |
Loss on Extinguishment of Debt | 15,600,000 | ' | 15,600,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 8.00% |
NonAllocated Expense Loss Contingency [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | 20,000,000 | ' | 20,000,000 | ' | ' |
Other Income and Expense Non Operating [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | -700,000 | -1,500,000 | -10,700,000 | -14,700,000 | ' |
Foreign Currency Gain (Loss) [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | 3,300,000 | 400,000 | 5,700,000 | 3,500,000 | ' |
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | -37,100,000 | -1,100,000 | -39,100,000 | -3,500,000 | ' |
Operating Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' |
Income before income taxes | ($34,500,000) | ($55,000,000) | ($102,000,000) | ($163,000,000) | ' |
13_Legal_Proceedings_Contingen
13. Legal Proceedings Contingent Liability (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
13. Legal Proceedings [Abstract] | ' |
Loss Contingency, Accrual, Current | $20 |