Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 30, 2013 | Mar. 05, 2014 | Mar. 05, 2014 | |
Common Class A [Member] | Common Class B [Member] | |||
Entity Registrant Name | 'BIO RAD LABORATORIES INC | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Entity Central Index Key | '0000012208 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 23,702,410 | 5,091,990 |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Entity Public Float | ' | $2,263,875,530 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS: | ' | ' |
Cash and cash equivalents | $331,551 | $463,388 |
Short-term investments | 277,369 | 457,685 |
Accounts receivable, less allowance for doubtful accounts | 422,660 | 398,739 |
Inventories: | ' | ' |
Raw materials | 105,708 | 93,009 |
Work in process | 129,894 | 124,737 |
Finished goods | 265,689 | 237,374 |
Total inventories | 501,291 | 455,120 |
Prepaid expenses | 135,969 | 92,490 |
Other current assets | 79,016 | 69,260 |
Total current assets | 1,747,856 | 1,936,682 |
Property, plant and equipment: | ' | ' |
Land and improvements | 19,066 | 18,898 |
Buildings and leasehold improvements | 284,299 | 268,217 |
Equipment | 783,950 | 724,919 |
Total property, plant and equipment | 1,087,315 | 1,012,034 |
Less: accumulated depreciation and amortization | -657,960 | -595,096 |
Property, plant and equipment, net | 429,355 | 416,938 |
Goodwill, net | 517,770 | 495,418 |
Purchased intangibles, net | 266,188 | 260,939 |
Other investments | 377,870 | 293,613 |
Other assets | 49,751 | 39,913 |
Total assets | 3,388,790 | 3,443,503 |
LIABILITIES AND STOCKHOLDERS' EQUITY: | ' | ' |
Accounts payable | 148,510 | 130,867 |
Accrued payroll and employee benefits | 130,658 | 135,955 |
Notes payable and current maturities of long-term debt | 1,786 | 1,750 |
Income and other taxes payable | 33,555 | 34,779 |
Accrued royalties | 19,556 | 29,718 |
Deferred revenue | 26,390 | 26,288 |
Estimated loss contingency | 30,000 | 0 |
Other current liabilities | 97,017 | 113,043 |
Total current liabilities | 487,472 | 472,400 |
Long-term debt, net of current maturities | 435,615 | 732,414 |
Deferred income taxes | 162,110 | 115,054 |
Other long-term liabilities | 116,871 | 108,095 |
Total liabilities | 1,202,068 | 1,427,963 |
Commitments and contingent liabilities | ' | ' |
Bio-Rad Stockholders' equity: | ' | ' |
Preferred stock | 0 | 0 |
Additional paid-in capital | 239,986 | 212,244 |
Retained earnings | 1,606,117 | 1,528,327 |
Accumulated other comprehensive income | 340,717 | 274,532 |
Total Bio-Rad stockholders' equity | 2,186,722 | 2,015,005 |
Noncontrolling interests | 0 | 535 |
Total stockholders' equity | 2,186,722 | 2,015,540 |
Total liabilities and stockholders' equity | 3,388,790 | 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) |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts | $32,471 | $29,202 |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock authorized | 7,500,000 | 7,500,000 |
Preferred stock issued | 0 | 0 |
Preferred stock outstanding | 0 | 0 |
Common Class A [Member] | ' | ' |
Common stock par value | $0.00 | $0.00 |
Common stock authorized | 80,000,000 | 80,000,000 |
Common stock issued | 23,680,749 | 23,332,532 |
Common stock outstanding | 23,680,627 | 23,332,410 |
Common Class B [Member] | ' | ' |
Common stock par value | $0.00 | $0.00 |
Common stock authorized | 20,000,000 | 20,000,000 |
Common stock issued | 5,096,780 | 5,149,771 |
Common stock outstanding | 5,095,863 | 5,148,854 |
Treasury Class-A [Member] | ' | ' |
Treasury Stock, Shares | 122 | 122 |
Treasury Class B [Member] | ' | ' |
Treasury Stock, Shares | 917 | 917 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales | $2,132,694 | $2,069,235 | $2,073,529 |
Cost of goods sold | 954,216 | 914,077 | 894,700 |
Gross profit | 1,178,478 | 1,155,158 | 1,178,829 |
Selling, general and administrative expense | 798,070 | 681,778 | 695,984 |
Research and development expense | 210,952 | 209,204 | 177,604 |
Income from operations | 169,456 | 264,176 | 305,241 |
Interest expense | 61,271 | 51,112 | 53,135 |
Foreign exchange losses, net | 8,566 | 5,040 | 13,842 |
Other (income) expense, net | -12,766 | -21,883 | -7,583 |
Income before income taxes | 112,385 | 229,907 | 245,847 |
Provision for income taxes | -34,574 | -64,361 | -67,034 |
Net income including noncontrolling interests | 77,811 | 165,546 | 178,813 |
Net loss (income) attributable to noncontrolling interests | -21 | -69 | 200 |
Net income attributable to Bio-Rad | $77,790 | $165,477 | $179,013 |
Basic earnings per share: | ' | ' | ' |
Net income per share basic attributable to Bio-Rad | $2.72 | $5.85 | $6.39 |
Weighted average common shares - basic | 28,586 | 28,290 | 28,031 |
Diluted earnings per share: | ' | ' | ' |
Net income per share diluted attributable to Bio-Rad | $2.69 | $5.78 | $6.29 |
Weighted average common shares - diluted | 28,906 | 28,642 | 28,468 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Cash received from customers | $2,090,030 | $2,063,805 | $2,018,755 |
Cash paid to suppliers and employees | -1,797,688 | -1,654,943 | -1,639,848 |
Interest paid | -61,233 | -46,369 | -56,859 |
Income tax payments | -71,144 | -93,697 | -68,750 |
Investment proceeds and miscellaneous receipts, net | 16,760 | 12,991 | 9,686 |
Excess tax benefits from share-based compensation | -2,720 | -2,889 | -3,168 |
Proceeds from (payments for) forward foreign exchange contracts, net | 1,471 | -2,870 | 2,919 |
Net cash provided by operating activities | 175,476 | 276,028 | 262,735 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -112,998 | -152,417 | -102,888 |
Proceeds from dispositions of property, plant and equipment | 1,214 | 6,325 | 234 |
Payments for acquisitions, net of cash received, and long-term investments | -72,054 | -39,443 | -158,538 |
Payments for purchases of intangible assets | -700 | -1,780 | -436 |
Payments for purchases of marketable securities and investments | -386,714 | -680,966 | -509,310 |
Proceeds from sales of marketable securities and investments | 289,779 | 131,295 | 48,825 |
Proceeds from maturities of marketable securities and investments | 276,052 | 327,052 | 335,781 |
Net cash used in investing activities | -5,421 | -409,934 | -386,332 |
Cash flows from financing activities: | ' | ' | ' |
Net payments on line-of-credit arrangements and notes payable | 48 | -191 | -3,900 |
Payments on long-term borrowings | -300,228 | -620 | -226,835 |
Proceeds from issuance of common stock | 11,237 | 10,611 | 14,249 |
Payments of contingent consideration | -25,474 | 0 | 0 |
Debt issuance costs on long-term borrowings | 0 | 0 | -242 |
Purchase of treasury stock | 0 | -101 | 0 |
Excess tax benefits from share-based compensation | 2,720 | 2,889 | 3,168 |
Net cash (used in) provided by financing activities | -311,697 | 12,588 | -213,560 |
Effect of foreign exchange rate changes on cash | 9,805 | 10,475 | 4,837 |
Net decrease in cash and cash equivalents | -131,837 | -110,843 | -332,320 |
Cash and cash equivalents at beginning of year | 463,388 | 574,231 | 906,551 |
Cash and cash equivalents at end of year | $331,551 | $463,388 | $574,231 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total Bio Rad [Member] | Noncontrolling Interest [Member] |
In Thousands, unless otherwise specified | ||||||||
Balance at Dec. 31, 2010 | $1,540,519 | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | 3,823 |
Balance at Dec. 31, 2010 | ' | 3 | 156,986 | 0 | 1,181,687 | 198,020 | 1,536,696 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 179,013 | ' | ' | ' | 179,013 | ' | 179,013 | ' |
Net Income | -200 | ' | ' | ' | ' | ' | ' | -200 |
Net income | 178,813 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | 670 | 670 | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | 189 |
Other comprehensive income, net of tax | 859 | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 14,249 | ' | 14,249 | ' | ' | ' | 14,249 | ' |
Stock compensation expense | 10,738 | ' | 10,738 | ' | ' | ' | 10,738 | ' |
Tax benefit-exercise stock options | 3,582 | ' | 3,582 | ' | ' | ' | 3,582 | ' |
Purchase of additional controlling interests and other | -3,588 | ' | -221 | ' | ' | ' | -221 | -3,367 |
Balance at Dec. 31, 2011 | 1,747,322 | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | 445 |
Balance at Dec. 31, 2011 | ' | 3 | 185,334 | 0 | 1,362,850 | 198,690 | 1,746,877 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 165,477 | ' | ' | ' | 165,477 | ' | 165,477 | ' |
Net Income | 69 | ' | ' | ' | ' | ' | ' | 69 |
Net income | 165,546 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | 75,842 | 75,842 | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | 21 |
Other comprehensive income, net of tax | 75,863 | ' | ' | ' | ' | 75,800 | 75,800 | 0 |
Issuance of common stock | 10,611 | ' | 10,611 | ' | ' | ' | 10,611 | ' |
Stock compensation expense | 12,936 | ' | 12,936 | ' | ' | ' | 12,936 | ' |
Tax benefit-exercise stock options | 3,363 | ' | 3,363 | ' | ' | ' | 3,363 | ' |
Purchase of treasury stock | 101 | ' | ' | 101 | ' | ' | 101 | ' |
Balance at Dec. 31, 2012 | 2,015,540 | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 535 | ' | ' | ' | ' | ' | ' | 535 |
Balance at Dec. 31, 2012 | 2,015,005 | 3 | 212,244 | -101 | 1,528,327 | 274,532 | 2,015,005 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 77,790 | ' | ' | ' | 77,790 | ' | 77,790 | ' |
Net Income | 21 | ' | ' | ' | ' | ' | ' | 21 |
Net income | 77,811 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | 66,185 | 66,185 | ' |
Other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | 164 |
Other comprehensive income, net of tax | 66,349 | ' | ' | ' | ' | 66,400 | 66,200 | 200 |
Issuance of common stock | 11,237 | ' | 11,237 | ' | ' | ' | 11,237 | ' |
Stock compensation expense | 13,657 | ' | 13,657 | ' | ' | ' | 13,657 | ' |
Tax benefit-exercise stock options | 3,135 | ' | 3,135 | ' | ' | ' | 3,135 | ' |
Purchase of additional controlling interests and other | -1,007 | ' | -287 | ' | ' | ' | -287 | -720 |
Balance at Dec. 31, 2013 | 2,186,722 | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | 0 | ' | ' | ' | ' | ' | ' | 0 |
Balance at Dec. 31, 2013 | $2,186,722 | $3 | $239,986 | ($101) | $1,606,117 | $340,717 | $2,186,722 | ' |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income including noncontrolling interests | $77,811 | $165,546 | $178,813 |
Foreign currency translation adjustments | 16,682 | 23,668 | -12,494 |
Reclassification of realized portion of cumulative translation adjustment due to liquidaiton, net of tax | -20 | 70 | -1,055 |
Other post-employment benefits adjustments, net of tax | -510 | -8,531 | 1,286 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | 546 | 253 | 355 |
Net unrealized holding gains on available-for-sale investments, net of tax | 49,459 | 65,448 | 12,663 |
Reclassification adjustments for gains (losses) included in Net income including noncontrolling interests, net of tax | 192 | -5,045 | 104 |
Comprehensive income | 144,160 | 241,409 | 179,672 |
Other comprehensive income, net of tax | 66,349 | 75,863 | 859 |
Comprehensive loss (income) attributable to noncontrolling interest | -185 | -90 | 11 |
Comprehensive income attributable to Bio-Rad | $143,975 | $241,319 | $179,683 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification of realized portion of cumulative translation adjustment due to liquidation, TAX | $0 | $0 | $0 |
Other post-employment benefits adjustments, tax | 0.2 | 2.8 | -0.4 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -0.2 | -0.1 | -0.1 |
Net unrealized holding gains, tax | -28.8 | -38.1 | -7.4 |
Reclassification adjustments for gains included in net income, tax | ($0.10) | $2.90 | ($0.10) |
1_Significant_Accounting_Polic
1. Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | ' | |||||||||||||||||||
1.SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||||||
Basis of Presentation | ||||||||||||||||||||
The consolidated financial statements include the accounts of Bio-Rad Laboratories, Inc. and all of our wholly and majority owned subsidiaries (referred to in this report as “Bio-Rad,” “we,” “us” and “our”) after elimination of intercompany balances and transactions. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | ||||||||||||||||||||
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. | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less which are readily convertible into cash. Cash equivalents are stated at cost, which approximates fair value. | ||||||||||||||||||||
Available-for-Sale Investments | ||||||||||||||||||||
Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities, U.S. government sponsored agencies and marketable equity securities. Management classifies investments at the time of purchase and reevaluates such classification at each balance sheet date. Investments with maturities beyond one year may be classified as short-term based on their liquid nature and because such marketable securities represent the investment of cash that is available for current operations. Available-for-sale investments are reported at fair value based on quoted market prices and other observable market data. Unrealized gains and losses are reported as a component of other comprehensive income, net of any related tax effect. Unrealized losses are charged against income when a decline in the fair value of an individual security is determined to be other-than-temporary. We review our available-for-sale investments for other-than-temporary losses on a quarterly basis. Realized gains and losses and other-than-temporary impairments on investments are included in Other (income) expense, net (see Note 10). | ||||||||||||||||||||
Concentration of Credit Risk | ||||||||||||||||||||
Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, investments, foreign exchange contracts and trade accounts receivable. Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions. Bio-Rad has not sustained significant losses from instruments held at financial institutions. | ||||||||||||||||||||
The forward contracts used in managing our foreign currency exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements. We attempt to minimize this risk by limiting the counterparties to a diverse group of highly-rated domestic and international financial institutions. In the event of non-performance by these counterparties, the carrying values of our financial instruments represent the maximum amount of loss we would have incurred as of our fiscal year-end. However, we do not expect to record any losses as a result of counterparty default. | ||||||||||||||||||||
We perform credit evaluation procedures related to our trade receivables and with the exception of certain developing countries, generally do not require collateral. As a result of increased risk in certain developing countries, some Bio-Rad sales are subject to collateral letters of credit from our customers. Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. However, a significant amount of trade receivables are with national healthcare systems in countries within the European Union. | ||||||||||||||||||||
Accounts Receivable | ||||||||||||||||||||
We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The amount of the allowance is determined by analyzing known uncollectible accounts, aged receivables, economic conditions in the customers’ country or industry, historical losses and our customers’ credit-worthiness. Amounts later determined and specifically identified to be uncollectible are charged or written off against this allowance. | ||||||||||||||||||||
Inventory | ||||||||||||||||||||
Inventories are valued at the lower of actual cost or market (net realizable value) and include material, labor and overhead costs. The first-in, first-out method is used to relieve inventory for products sold. | ||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||
Property, plant and equipment are carried at cost, less accumulated depreciation and amortization. Included in property, plant and equipment are buildings and equipment acquired under capital lease arrangements, reagent rental equipment and capitalized software, including costs for software developed or obtained for internal use. Property, plant and equipment are assessed for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. | ||||||||||||||||||||
Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Buildings and leasehold improvements are amortized over 15-30 years or the term of the leases or life of the improvements, whichever is shorter. With the exception of reagent rental equipment, which is amortized over a 1-5 year period, equipment and capitalized software is depreciated over 3-12 years. | ||||||||||||||||||||
Goodwill | ||||||||||||||||||||
Goodwill represents the excess of the cost over the fair value of net tangible and identifiable intangible assets of acquired businesses. Goodwill is assessed for impairment by applying fair value based tests annually in the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. We perform impairment tests of goodwill at our reporting unit level, which is one level below our operating segments. Our reporting units are identified as components for which discrete financial information is available and is regularly reviewed by management. Goodwill amounts are assigned to reporting units at the time of acquisition. | ||||||||||||||||||||
The goodwill impairment test consists of a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit to its carrying value, including goodwill. We use a projected discounted cash flow model to determine the fair value of a reporting unit. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired, and the second step of the impairment test is not required. The second step, if required, compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. The fair value of a reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the price paid to acquire the reporting unit. If the carrying amount of the reporting unit’s goodwill exceeds its implied fair value, an impairment charge is recognized in an amount equal to that excess. | ||||||||||||||||||||
Long-Lived Assets | ||||||||||||||||||||
For purposes of recognition and measurement of an impairment loss, a long-lived asset or assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. We assess the impairment of long-lived assets (including identifiable intangible assets) quarterly or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that we consider important that could trigger an impairment review include: | ||||||||||||||||||||
• | significant under-performance relative to expected, historical or projected future operating results; | |||||||||||||||||||
• | significant changes in the manner of use of the long-lived assets, intangible assets or the strategy for our overall business; | |||||||||||||||||||
• | a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of at a loss before the end of its previously estimated useful life; and | |||||||||||||||||||
• | significant negative industry, legal, regulatory or economic trends. | |||||||||||||||||||
When management determines that the carrying value of long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, we test for any impairment based on a projected undiscounted cash flow method. Projected future operating results and cash flows of the asset or asset group are used to establish the fair value used in evaluating the carrying value of long-lived and intangible assets. We estimate the future cash flows of the long-lived assets using current and long-term financial forecasts. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If this is the case, an impairment loss would be recognized. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value. | ||||||||||||||||||||
Income Taxes | ||||||||||||||||||||
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities reflect the tax effects of losses, credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. They are determined using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. | ||||||||||||||||||||
We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. To the extent we determine that we are able to realize our deferred income tax assets in the future in excess of their net recorded amount, we make an adjustment to the valuation allowance which may reduce the provision for income taxes. When we establish or reduce the valuation allowance against our deferred tax assets, our provision for income taxes will increase or decrease, respectively, in the period that determination to change the valuation allowance is made. | ||||||||||||||||||||
We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements on a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. We recognize both accrued interest and penalties, where appropriate, related to unrecognized tax benefits in the provision for income taxes. | ||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||
Revenue is recognized when pervasive evidence of an arrangement exists, the price to the buyer is fixed or determinable, collectability is reasonably assured and title has passed to the customer or product has been delivered absent specific contractual specifications. Revenue associated with equipment that requires factory installation is not recorded until installation is complete and customer acceptance, if required contractually, has occurred. At the time revenue is recognized, a provision is recognized for estimated product returns. Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement, or as services are performed if not under contract. | ||||||||||||||||||||
Reagent agreements are a diagnostic industry sales method that provides use of an instrument and consumables (reagents) to a customer on a per test basis. We evaluate our reagent agreements and account for these contracts under the guidance pertaining to accounting for revenue arrangements with multiple deliverables. Our reagent agreements represent one unit of accounting as the instrument and consumables are interdependent in producing a diagnostic result that neither has a stand-alone value with respect to these agreements. All revenues that we earn under our reagent agreements are recognized pursuant to the terms of each agreement and are based and entirely contingent upon either (i) when the consumables to conduct a fixed number of tests are delivered or (ii) as reported by the customer on a per test basis. | ||||||||||||||||||||
Shipping and Handling | ||||||||||||||||||||
We classify all freight costs billed to customers as Net sales. Related freight costs are included in Cost of goods sold. | ||||||||||||||||||||
Warranty | ||||||||||||||||||||
We warrant certain equipment against defects in design, materials and workmanship, mostly 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. | ||||||||||||||||||||
Changes in the warranty accrual, included in Other current liabilities and Other long-term liabilities, were as follows (in millions): | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
1-Jan | $ | 16.4 | $ | 16.4 | ||||||||||||||||
Provision for warranty | 15.6 | 19.8 | ||||||||||||||||||
Actual warranty costs | (16.4 | ) | (19.8 | ) | ||||||||||||||||
31-Dec | $ | 15.6 | $ | 16.4 | ||||||||||||||||
Research and Development | ||||||||||||||||||||
Internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed. | ||||||||||||||||||||
Foreign Currency | ||||||||||||||||||||
Balance sheet accounts of international subsidiaries are translated at the current exchange rates as of the end of each accounting period. Income statement items are translated at average exchange rates for the period. The resulting translation adjustments are recorded as a separate component of stockholders’ equity. | ||||||||||||||||||||
Foreign currency transaction gains and losses are included in Foreign exchange losses, net in the Consolidated Statements of Income. Transaction gains and losses result primarily from fluctuations in exchange rates when intercompany receivables and payables are denominated in currencies other than the functional currency of our subsidiary that recorded the transaction. | ||||||||||||||||||||
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 exchange rates that affect foreign currency denominated intercompany receivables and payables. We do not use derivative financial instruments for speculative or trading purposes, nor do we seek hedge accounting treatment for any of our contracts. As a result, these contracts, generally with maturity dates of 90 days or less and denominated primarily in currencies of industrial countries, are recorded as an asset or liability measured at their fair value at each balance sheet date. The resulting gains or losses offset exchange gains or losses, on the related receivables and payables, all of which are recorded as Foreign exchange losses, net in the Consolidated Statements of Income. | ||||||||||||||||||||
Noncontrolling Interests | ||||||||||||||||||||
A noncontrolling interest in a subsidiary is an ownership interest in a consolidated entity that is reported as equity in the consolidated financial statements and separate from Bio-Rad’s equity. In addition, net income (loss) attributable to noncontrolling interests is reported separately from net income attributable to Bio-Rad in the consolidated financial statements. Our consolidated statements presented the full amount of assets, liabilities, income and expenses of all of our consolidated subsidiaries, with a partially offsetting amount shown in noncontrolling interests for the portion of assets and liabilities that were not controlled by us. | ||||||||||||||||||||
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, and therefore there are no noncontrolling interests in Bio-Rad. | ||||||||||||||||||||
Share-Based Compensation Plans | ||||||||||||||||||||
Stock-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value. We recognize these compensation costs net of estimated forfeitures over the requisite service period of the award, which is generally the vesting term of the share-based payment awards. We estimated the forfeiture rate based on our historical experience. These plans are described more fully in Note 9. | ||||||||||||||||||||
Earnings Per Share | ||||||||||||||||||||
Basic earnings per share is computed by dividing net income attributable to Bio-Rad by the weighted average number of common shares outstanding for that period. Diluted 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 earnings per share calculation if the effect would be anti-dilutive. | ||||||||||||||||||||
Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share (EPS) pursuant to the two-class method. As our unvested restricted shares qualify as participating securities, we have included these shares in the computation of EPS. | ||||||||||||||||||||
The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share and the anti-dilutive shares are as follows (in thousands): | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Basic weighted average shares outstanding | 28,586 | 28,290 | 28,031 | |||||||||||||||||
Effect of potentially dilutive stock options | ||||||||||||||||||||
and restricted stock awards | 320 | 352 | 437 | |||||||||||||||||
Diluted weighted average common shares | 28,906 | 28,642 | 28,468 | |||||||||||||||||
Anti-dilutive stock options and restricted stock awards | ||||||||||||||||||||
excluded from the computation of diluted EPS | 107 | 83 | 63 | |||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||
For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, accounts payable and foreign exchange contracts, the carrying amounts approximate fair value. | ||||||||||||||||||||
The estimated fair value of financial instruments is based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) using available market information or other appropriate valuation methodologies in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. 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 (see Note 3). | ||||||||||||||||||||
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 2011 and 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 inappropriately expensing inventory in amounts greater than actual costs for non-sales transactions, primarily related to inventory being used for demonstration purposes and product samples that are recorded to Selling, general and administrative expense. In addition, the Life Science segment inventory error affected cost of goods sold as we relieved inventory at a higher cost than incurred on limited sales to third parties produced in a non-U.S. manufacturing facility. The effect of correcting these errors in the 2011 and 2012 consolidated financial statements were increases to net income of $0.8 million and $1.7 million, respectively. | ||||||||||||||||||||
Research and Development (R&D) Tax Credit | ||||||||||||||||||||
During the third quarter of 2013, we revised the classification of one item for all periods presented from “Provision for income taxes” to “Research and development expense” in our Consolidated Statements of Income to conform to the current year presentation. The item reclassified pertains to a refundable French R&D tax credit, which after the reclassification reduces Research and development expense. We believe this presentation is appropriate as we are not required to have taxable income in order to earn the credits. The effect of the reclassifications from Provision for income taxes to Research and development expense for 2011 and 2012 was $8.8 million and $4.8 million, respectively. | ||||||||||||||||||||
The impact of the immaterial error correction, and the reclassification, both described above on our Consolidated Balance Sheet and Consolidated Statements of Income for the periods presented is as follows (in thousands, except per share data): | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
As reported | Adjustment | As revised | ||||||||||||||||||
Inventories: finished goods | $ | 230,624 | $ | 6,750 | $ | 237,374 | ||||||||||||||
Total inventories | 448,370 | 6,750 | 455,120 | |||||||||||||||||
Total current assets | 1,929,932 | 6,750 | 1,936,682 | |||||||||||||||||
Total assets | 3,436,753 | 6,750 | 3,443,503 | |||||||||||||||||
Income and other taxes payable | 32,299 | 2,480 | 34,779 | |||||||||||||||||
Total current liabilities | 469,920 | 2,480 | 472,400 | |||||||||||||||||
Total liabilities | 1,425,483 | 2,480 | 1,427,963 | |||||||||||||||||
Total stockholders' equity | 2,011,270 | 4,270 | 2,015,540 | |||||||||||||||||
Total liabilities and stockholders' equity | $ | 3,436,753 | $ | 6,750 | $ | 3,443,503 | ||||||||||||||
Year ended December 31, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As reported | Adjustment | As revised | As reported | Adjustment | As revised | |||||||||||||||
Cost of goods sold | $ | 915,097 | $ | (1,020 | ) | $ | 914,077 | $ | 895,640 | $ | (940 | ) | $ | 894,700 | ||||||
Gross profit | 1,154,138 | 1,020 | 1,155,158 | 1,177,889 | 940 | 1,178,829 | ||||||||||||||
Selling, general and administrative expense | 682,898 | (1,120 | ) | 681,778 | 696,294 | (310 | ) | 695,984 | ||||||||||||
Research and development expense | 214,040 | (4,836 | ) | 209,204 | 186,439 | (8,835 | ) | 177,604 | ||||||||||||
Income from operations | 257,200 | 6,976 | 264,176 | 295,156 | 10,085 | 305,241 | ||||||||||||||
Income before income taxes | 222,931 | 6,976 | 229,907 | 235,762 | 10,085 | 245,847 | ||||||||||||||
Provision for income taxes | 59,084 | 5,277 | 64,361 | 57,739 | 9,295 | 67,034 | ||||||||||||||
Net income including noncontrolling interests | 163,847 | 1,699 | 165,546 | 178,023 | 790 | 178,813 | ||||||||||||||
Net income attributable to Bio-Rad | $ | 163,778 | $ | 1,699 | $ | 165,477 | $ | 178,223 | $ | 790 | $ | 179,013 | ||||||||
Net income per basic share attributable to Bio-Rad | $ | 5.79 | $ | 0.06 | $ | 5.85 | $ | 6.36 | $ | 0.03 | $ | 6.39 | ||||||||
Net income per diluted share attributable to Bio-Rad | $ | 5.72 | $ | 0.06 | $ | 5.78 | $ | 6.26 | $ | 0.03 | $ | 6.29 | ||||||||
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: | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
Net unrealized holding gains on AFS investments, net of income tax, understated by $10,090 for the year ended 2012, and overstated by $208 for the year ended 2011. | $65,448 | $12,663 | ||||||||||||||||||
Income taxes on net unrealized holding gains on AFS investments, understated by $5,874 for the year ended 2012, and overstated by $121 for the year ended 2011. | $38,108 | $7,373 | ||||||||||||||||||
Reclassification adjustments for net holding (gains) losses on AFS investments included in Net income including noncontrolling interests, net of income tax, understated by $10,090 for the year ended 2012, and overstated by $208 for the year ended 2011. | ($5,045) | $104 | ||||||||||||||||||
Income taxes on reclassification adjustments for net holding gains/losses on AFS investments included in Net income including noncontrolling interests, understated by $5,874 for the year ended 2012, and overstated by $121 for the year ended 2011. | ($2,937) | $61 | ||||||||||||||||||
Management evaluated the materiality of all the errors described above from a qualitative and quantitative perspective. Based on such evaluation, we have concluded that while the accumulation of these errors was significant to the year ended December 31, 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 are correcting these errors in every affected period in the 2013 Consolidated Financial Statements included in this Form 10-K. | ||||||||||||||||||||
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. This guidance is related to disclosure only and therefore did not have an impact on our consolidated financial position, results of operations or cash flows. |
2_Acquisitions
2. Acquisitions | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Mergers, Acquisitions and Dispositions Disclosures [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. | |
We do not consider this business combination to be material and therefore have not disclosed the pro forma results of operations as required for material business combinations. | |
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 is 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 cost 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. The contingent consideration was recognized at its estimated fair value of $20.8 million as of December 31, 2013. (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. | |
In July 2012, we acquired 100% 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 cost 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 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 our 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 is 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 cost 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 at the acquisition date 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 was expensed over two years from the date of acquisition. We believe this acquisition will allow us to secure the supply of critical raw materials and lower our overall costs in the Clinical Diagnostics segment. |
3_Fair_Value_Measurements
3. Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Dec. 31, 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 December 31, 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 | $ | — | $ | 7 | $ | — | $ | 7 | ||||||||||||
Foreign time deposits | 11.1 | — | — | 11.1 | ||||||||||||||||
U.S. government sponsored agencies | — | 1.2 | — | 1.2 | ||||||||||||||||
Money market funds | 1.2 | — | — | 1.2 | ||||||||||||||||
Total cash equivalents | 12.3 | 8.2 | — | 20.5 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 132.5 | — | 132.5 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 8.9 | — | 8.9 | ||||||||||||||||
U.S. government sponsored agencies | — | 39.1 | — | 39.1 | ||||||||||||||||
Foreign government obligations | — | 5.6 | — | 5.6 | ||||||||||||||||
Municipal obligations | — | 11 | — | 11 | ||||||||||||||||
Marketable equity securities | 325.2 | — | — | 325.2 | ||||||||||||||||
Asset-backed securities | — | 48.6 | — | 48.6 | ||||||||||||||||
Total available-for-sale investments | 325.2 | 245.7 | — | 570.9 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 0.6 | — | 0.6 | ||||||||||||||||
Total financial assets carried at fair value | $ | 337.5 | $ | 254.5 | $ | — | $ | 592 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 1.1 | $ | — | $ | 1.1 | ||||||||||||
Contingent consideration (e) | — | — | 20.8 | 20.8 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 1.1 | $ | 20.8 | $ | 21.9 | ||||||||||||
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 Consolidated Balance Sheets. | |||||||||||||||||||
(b) | Available-for-sale investments are included in the following accounts in the Consolidated Balance Sheets (in millions): | |||||||||||||||||||
December 31, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Short-term investments | $ | 277.4 | $ | 457.7 | ||||||||||||||||
Other investments | 293.5 | 218 | ||||||||||||||||||
Total | $ | 570.9 | $ | 675.7 | ||||||||||||||||
(c) | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Consolidated Balance Sheets. | |||||||||||||||||||
(d) | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||
(e) | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions): | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Other current liabilities | $ | 6.1 | $ | 27.3 | ||||||||||||||||
Other long-term liabilities | 14.7 | 25.3 | ||||||||||||||||||
Total | $ | 20.8 | $ | 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. The development milestone was met as of December 31, 2012, resulting in a payment of $6.0 million in January 2013. During 2012, the first three short-term sales milestones were not met and therefore the fair value of the contingent consideration was lowered by $16.1 million and credited to Selling, general and administrative expense. During 2013, we did not expect that any of the remaining sales milestones would be met and therefore $2.0 million of the remaining contingent consideration liability was credited to Selling, general and administrative expense. | ||||||||||||||||||||
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 fair value of the contingent consideration was based on a probability-weighted income approach related to the achievement of certain development and sales milestones and was recorded at $44.6 million in 2012. The development milestones have been achieved and payments totaling $20.0 million were made in 2013. 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 contingent consideration was revalued by a net reduction of $3.8 million in 2013 to Selling, general and administrative expense to its estimated fair value of $20.8 million as of December 31, 2013. | ||||||||||||||||||||
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 year ended December 31, 2013 (in millions): | ||||||||||||||||||||
2013 | ||||||||||||||||||||
1-Jan | $ | 52.6 | ||||||||||||||||||
Payment of development milestone - QuantaLife | (6.0 | ) | ||||||||||||||||||
Payment of development milestone - Cell sorting system | (20.0 | ) | ||||||||||||||||||
Decrease in fair value of contingent consideration included in Selling, general and administrative expense - QuantaLife | (2.0 | ) | ||||||||||||||||||
Net decrease in estimated fair value of contingent consideration included in Selling, general and administrative expense - Cell sorting system | (3.8 | ) | ||||||||||||||||||
31-Dec | $ | 20.8 | ||||||||||||||||||
The following table provides quantitative information about Level 3 inputs for fair value measurement of our contingent consideration liabilities as of December 31, 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 milestone: | ||||||||||||||||||
Credit adjusted discount rates | 0.97% | 1.93% | ||||||||||||||||||
Projected volatility of growth rates | 13.00% | 15.00% | ||||||||||||||||||
Market price of risk | 1.00% | N/A | ||||||||||||||||||
To estimate the fair value of Level 2 debt securities as of December 31, 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 December 31, 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 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): | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 132.6 | $ | 0.3 | $ | (0.4 | ) | $ | 132.5 | |||||||||||
Foreign brokered certificates of deposit | 8.9 | — | — | 8.9 | ||||||||||||||||
Municipal obligations | 11.1 | — | (0.1 | ) | 11 | |||||||||||||||
Asset-backed securities | 48.4 | 0.1 | (0.2 | ) | 48.3 | |||||||||||||||
U.S. government sponsored agencies | 39.1 | 0.1 | (0.1 | ) | 39.1 | |||||||||||||||
Foreign government obligations | 5.6 | — | — | 5.6 | ||||||||||||||||
Marketable equity securities | 26.6 | 5.4 | — | 32 | ||||||||||||||||
272.3 | 5.9 | (0.8 | ) | 277.4 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 238.7 | — | 293.2 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
54.9 | 238.7 | (0.1 | ) | 293.5 | ||||||||||||||||
Total | $ | 327.2 | $ | 244.6 | $ | (0.9 | ) | $ | 570.9 | |||||||||||
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): | ||||||||||||||||||||
December 31, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Fair value of investments in a loss position 12 months or more | $ | 2.3 | $ | 0.3 | ||||||||||||||||
Fair value of investments in a loss position less than 12 months | $ | 73.9 | $ | 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 December 31, 2013 or at 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 denominated primarily in 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 December 31, 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 Consolidated Statements of Income. | ||||||||||||||||||||
The following is a summary of our forward foreign currency exchange contracts (in millions): | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Contracts maturing in January through March 2014 to sell foreign currency: | ||||||||||||||||||||
Notional value | $ | 83.8 | ||||||||||||||||||
Unrealized loss | $ | — | ||||||||||||||||||
Contracts maturing in January through March 2014 to purchase foreign currency: | ||||||||||||||||||||
Notional value | $ | 409.4 | ||||||||||||||||||
Unrealized loss | $ | 0.5 | ||||||||||||||||||
The following is a summary of the amortized cost and estimated fair value of our debt securities at December 31, 2013 by contractual maturity date (in millions): | ||||||||||||||||||||
Amortized | Estimated Fair | |||||||||||||||||||
Cost | Value | |||||||||||||||||||
Mature in less than one year | $ | 97.5 | $ | 97.6 | ||||||||||||||||
Mature in one to five years | 109.1 | 109.2 | ||||||||||||||||||
Mature in more than five years | 39.5 | 38.9 | ||||||||||||||||||
Total | $ | 246.1 | $ | 245.7 | ||||||||||||||||
The estimated fair value of financial instruments that are not recognized at fair value in the Consolidated Balance Sheets and are included in Other investments, are presented in the table below. Fair value has been determined using 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 financial instruments, the majority of which has fair value based on similar, actively traded stock adjusted for various discounts, including a discount for marketability. 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 the financial instruments discussed above and the level of the fair value hierarchy within which the fair value measurement is categorized are as follows (in millions): | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Carrying | Estimated | Fair Value Hierarchy Level | Carrying | Estimated | Fair Value Hierarchy Level | |||||||||||||||
Amount | Fair | Amount | Fair | |||||||||||||||||
Value | Value | |||||||||||||||||||
Other investments | $ | 77.5 | $ | 382.9 | 2 | $ | 68.4 | $ | 272.5 | 2 | ||||||||||
Total long-term debt, excluding leases | $ | 423.2 | $ | 433 | 2 | $ | 720 | $ | 778.4 | 2 | ||||||||||
and current maturities | ||||||||||||||||||||
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 December 31, 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. We account for this investment using the cost method. The carrying value of this investment is included in Other investments in our Consolidated Balance Sheets. Historically, we classified the estimated fair value of Sartorius ordinary voting stock as Level 1 under the fair value hierarchy. However, because the stock is thinly traded and in conjunction with the valuation method discussed above, we believe the classification as Level 1 was inappropriate and have classified the estimated fair value as Level 2 for all periods presented in conjunction with this filing. The Level 2 classification is appropriate given the valuation method employed, which incorporates an observable input of the fair value of the Sartorius’ actively traded preferred stock. |
4_Intangible_Assets_Goodwill_a
4. Intangible Assets, Goodwill and Other | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 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): | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Life | Clinical | Total | Life | Clinical | Total | |||||||||||||||||||||
Science | Diagnostics | Science | Diagnostics | |||||||||||||||||||||||
Balances as of January 1: | ||||||||||||||||||||||||||
Goodwill | $ | 193.6 | $ | 330 | $ | 523.6 | $ | 176.8 | $ | 319.3 | $ | 496.1 | ||||||||||||||
Accumulated impairment losses and write-offs | (27.2 | ) | (1.0 | ) | (28.2 | ) | (27.2 | ) | — | (27.2 | ) | |||||||||||||||
Goodwill, net | 166.4 | 329 | 495.4 | 149.6 | 319.3 | 468.9 | ||||||||||||||||||||
Acquisitions | 14.9 | — | 14.9 | 17.4 | 4.1 | 21.5 | ||||||||||||||||||||
Purchase adjustment | — | — | — | (0.6 | ) | — | (0.6 | ) | ||||||||||||||||||
Goodwill written off related to excess property | — | — | — | — | (1.0 | ) | (1.0 | ) | ||||||||||||||||||
Currency fluctuations | 0.5 | 7 | 7.5 | — | 6.6 | 6.6 | ||||||||||||||||||||
Balances as of December 31: | ||||||||||||||||||||||||||
Goodwill | 209 | 337 | 546 | 193.6 | 330 | 523.6 | ||||||||||||||||||||
Accumulated impairment losses and write-offs | (27.2 | ) | (1.0 | ) | (28.2 | ) | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||||||
Goodwill, net | $ | 181.8 | $ | 336 | $ | 517.8 | $ | 166.4 | $ | 329 | $ | 495.4 | ||||||||||||||
In conjunction with the acquisition of 100% of the outstanding shares of AbD Serotec in our Life Science segment in January 2013, we 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. The weighted average useful lives of the definite-lived intangible assets as of the acquisition date were 13.9, 13, 12, 2 and 1 years, respectively, with a total weighted average useful life of 13.7 years. | ||||||||||||||||||||||||||
In December 2012, we sold a building for $6.4 million in our Clinical Diagnostics segment that was associated with a 1999 acquisition. We recognized a gain on the sale of $4.3 million and a portion of the goodwill recorded in a 1999 acquisition was written off of $1.0 million. | ||||||||||||||||||||||||||
In conjunction with the purchase of certain assets from Propel Labs, Inc. in our Life Science segment in August 2012, we recorded $17.4 million of goodwill and $32.1 million of definite-lived intangible assets: $27.3 million of developed product technology, $4.7 million of covenants not to compete and $0.1 million of other intangible assets. | ||||||||||||||||||||||||||
In conjunction with the acquisition of 100% of the outstanding shares of DiaMed Benelux in our Clinical Diagnostics segment in July 2012, we recorded $3.0 million of goodwill and $4.9 million of definite-lived intangible assets: $3.8 million of customer relationships/lists and $1.1 million of tradenames. | ||||||||||||||||||||||||||
In conjunction with the acquisition of certain assets from a raw material supplier in our Clinical Diagnostics segment in January 2012, we recorded $1.1 million of goodwill and $5.1 million of definite-lived intangible assets considered developed product technology. | ||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||||||||||||
Life (years) | Amount | |||||||||||||||||||||||||
Customer relationships/lists | 11-Jan | $ | 99.8 | $ | (41.1 | ) | $ | 58.7 | ||||||||||||||||||
Know how | 12-Feb | 194.6 | (89.3 | ) | 105.3 | |||||||||||||||||||||
Developed product technology | 13-Jan | 109.5 | (36.2 | ) | 73.3 | |||||||||||||||||||||
Licenses | 12-Jan | 44.9 | (22.4 | ) | 22.5 | |||||||||||||||||||||
Tradenames | 9-Jan | 4.3 | (2.1 | ) | 2.2 | |||||||||||||||||||||
Covenants not to compete | 9-May | 4.9 | (0.7 | ) | 4.2 | |||||||||||||||||||||
Other | — | 0.6 | (0.6 | ) | — | |||||||||||||||||||||
$ | 458.6 | $ | (192.4 | ) | $ | 266.2 | ||||||||||||||||||||
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 | ||||||||||||||||||||
No material impairment losses related to intangible assets were recorded in 2013 or 2012. | ||||||||||||||||||||||||||
Amortization expense related to purchased intangible assets for the years ended December 31, 2013, 2012 and 2011 was $45.0 million, $42.8 million and $39.1 million, respectively. Estimated future amortization expense (based on existing intangible assets) for the years ending December 31, 2014, 2015, 2016, 2017, 2018 and thereafter is $42.0 million, $39.0 million, $35.6 million, $27.0 million, $24.1 million, and $98.5 million, respectively. |
5_Notes_Payable_and_LongTerm_D
5. Notes Payable and Long-Term Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Notes Payable and Long-term Debt | ' | |||||||
5.NOTES PAYABLE AND LONG-TERM DEBT | ||||||||
Notes payable includes amounts borrowed against credit lines maintained locally by our international subsidiaries, under which the borrowing capacity was approximately $20.1 million, of which $15.8 million was unused at December 31, 2013. At December 31, 2012, borrowing capacity aggregated approximately $27.9 million, of which $23.8 million was unused. The weighted average interest rate on these lines was 3.0% and 3.2% at December 31, 2013 and 2012, respectively. Bio-Rad guaranteed eight of these credit lines at December 31, 2013 and 2012. | ||||||||
The principal components of long-term debt are as follows (in millions): | ||||||||
December 31, | December 31, 2012 | |||||||
2013 | ||||||||
8.0% Senior Subordinated Notes due 2016 | $ | — | $ | 296.9 | ||||
4.875% Senior Notes due 2020, net of discount | 423.2 | 423 | ||||||
Capital leases and other debt | 12.6 | 12.7 | ||||||
435.8 | 732.6 | |||||||
Less current maturities | (0.2 | ) | (0.2 | ) | ||||
Long-term debt | $ | 435.6 | $ | 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. The total expense for the redemption was $15.6 million and is included in Interest expense in our Consolidated Statements of Income. | ||||||||
Senior Notes due 2020 | ||||||||
In December 2010, Bio-Rad sold $425.0 million principal amount of Senior Notes due 2020 (4.875% Notes). The sale yielded net cash proceeds of $422.6 million at an effective rate of 4.946%. The 4.875% Notes pay a fixed rate of interest of 4.875% per year. We have the option to redeem any or all of the 4.875% Notes at any time at a redemption price of 100% of the principal amount (plus a specified make-whole premium as defined in the indenture governing the 4.875% Notes) and accrued and unpaid interest thereon to the redemption date. Our obligations under the 4.875% Notes are not secured and rank equal in right of payment with all of our existing and future unsubordinated indebtedness. Certain covenants apply to the 4.875% Notes including limitations on the following: liens, sale and leaseback transactions, mergers, consolidations or sales of assets and other covenants. There are no restrictive covenants relating to total indebtedness, interest coverage, stock repurchases, recapitalizations, dividends and distributions to shareholders or current ratios. The net proceeds from the issuance of the 4.875% Notes were used, together with cash on hand, to redeem all $200.0 million of our 6.125% Notes for $204.3 million, including a call premium of $4.1 million in December 2010 and all $225.0 million of our 7.5% Notes for $234.6 million, including a call premium of $2.8 million in January 2011. | ||||||||
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 December 31, 2013 or 2012. If we had borrowed against our Credit Agreement, the borrowing rate would have been 2.0% at December 31, 2013. 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 December 31, 2013. | ||||||||
Maturities of long-term debt at December 31, 2013 are as follows: 2014 - $0.2 million; 2015 - $0.2 million; 2016 - $0.2 million; 2017 - $0.2 million; 2018 - $0.2 million; thereafter - $434.8 million. | ||||||||
6_Income_Taxes
6. Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes [Text Block] | ' | ||||||||||||
6. INCOME TAXES | |||||||||||||
The U.S. and international components of income before taxes are as follows (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 5.7 | $ | 110.6 | $ | 111.8 | |||||||
International | 106.7 | 119.3 | 134 | ||||||||||
Income before taxes | $ | 112.4 | $ | 229.9 | $ | 245.8 | |||||||
The provision for income taxes consists of the following (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax expense (benefit): | |||||||||||||
U.S. Federal | $ | (5.0 | ) | $ | 34.4 | $ | 29 | ||||||
State | 0.6 | 4.1 | 3.5 | ||||||||||
International | 38.3 | 37.3 | 42 | ||||||||||
Current tax expense | 33.9 | 75.8 | 74.5 | ||||||||||
Deferred tax (benefit) expense: | |||||||||||||
U.S. Federal | 4.8 | (3.1 | ) | 6.7 | |||||||||
State | (0.1 | ) | (0.9 | ) | 0.4 | ||||||||
International | (9.4 | ) | (6.3 | ) | (9.1 | ) | |||||||
Deferred tax benefit | (4.7 | ) | (10.3 | ) | (2.0 | ) | |||||||
Non-current tax expense (benefit) | 5.4 | (1.1 | ) | (5.5 | ) | ||||||||
Provision for income taxes | $ | 34.6 | $ | 64.4 | $ | 67 | |||||||
The reconciliation between our effective tax rate on income before taxes and the statutory tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U. S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Impact of foreign operations | (6 | ) | (3 | ) | (4 | ) | |||||||
Research tax credits | (6 | ) | — | (1 | ) | ||||||||
Nontaxable subsidies | (2 | ) | (1 | ) | (1 | ) | |||||||
Tax settlements and changes to unrecognized tax benefits | 5 | — | (2 | ) | |||||||||
Contingent consideration | (1 | ) | (2 | ) | — | ||||||||
Other | 6 | (1 | ) | — | |||||||||
Provision for income taxes | 31 | % | 28 | % | 27 | % | |||||||
The effective tax rate for 2013 included a significant tax benefit related to the 2012 U.S. federal research credit, which was retroactively reinstated on January 2, 2013. The effective tax rate for 2013 was higher than 2012 primarily due to an increase in tax liabilities and audit settlements in our foreign jurisdictions, and a lower domestic production activities deduction as a result of lower U.S. taxable income in 2013. The effective tax rates for 2013 and 2012 reflected tax benefits related to adjustments to the fair value of the QuantaLife contingent consideration. The effective tax rate for 2011 reflected tax benefits from nontaxable dividend income and the release of tax liabilities. | |||||||||||||
The effective tax rates for all three periods 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 income is earned primarily in France and Switzerland. Switzerland's statutory tax rate is significantly lower than our U.S. statutory tax rate of 35%. Our effective tax rates are also significantly reduced by French tax incentives related to our research and development activities. | |||||||||||||
Our effective tax rate may be impacted in the future, either favorably or unfavorably, by many factors including, but not limited to, changes to statutory tax rates, changes in tax laws or regulations, tax audits and settlements, and generation of tax credits. | |||||||||||||
Deferred tax assets and liabilities reflect the tax effects of losses, credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred tax assets and liabilities are as follows (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Bad debt, inventory and warranty accruals | $ | 27.5 | $ | 24.1 | |||||||||
Legal reserves | 12 | — | |||||||||||
Other post-employment benefits, vacation and other reserves | 22.2 | 26.5 | |||||||||||
Tax credit and net operating loss carryforwards | 62.3 | 62.1 | |||||||||||
Other | 19 | 18.3 | |||||||||||
Valuation allowance | (64.0 | ) | (52.9 | ) | |||||||||
79 | 78.1 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | 17.2 | 8.6 | |||||||||||
Investments and intangible assets | 147 | 119.3 | |||||||||||
164.2 | 127.9 | ||||||||||||
Net deferred tax liabilities | $ | (85.2 | ) | $ | (49.8 | ) | |||||||
At December 31, 2013, Bio-Rad’s international subsidiaries had combined net operating loss carryforwards of $116.6 million. Of these loss carryforwards, $114.6 million have no expiration date. We believe that it is more likely than not that the benefit from most of these net operating loss carryforwards will not be realized. We have provided a valuation allowance of $28.0 million relating to these net operating loss carryforwards. | |||||||||||||
At December 31, 2013, Bio-Rad had U.S. Federal net operating loss carryforwards of approximately $17 million as a result of acquisitions. These carryforwards are subject to limitation on their utilization and will expire between 2018 and 2030. At December 31, 2013, Bio-Rad had U.S. Federal research tax credit carryforwards of $1.5 million, which are subject to limitations on their utilization. | |||||||||||||
At December 31, 2013, Bio-Rad had approximately $53 million of California net operating loss carryforwards related to the acquisition of QuantaLife. We believe that it is more likely than not that the benefit from these net operating loss carryforwards will not be realized and have recorded a full valuation allowance against these losses. At December 31, 2013, Bio-Rad had a deferred tax asset of $21.4 million relating to California research tax credit carryforwards, including $2.0 million from the acquisition of QuantaLife, which may be carried forward indefinitely. Based on our judgment and consistent with prior years, we have recorded a full valuation allowance against the deferred tax asset. | |||||||||||||
We believe that it is more likely than not that certain of these deferred tax assets described above will not be realized in the foreseeable future. If or when recognized, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets at December 31, 2013 will be recognized as a reduction of income tax expense. | |||||||||||||
The tax years subject to examination by tax authorities in major jurisdictions that Bio-Rad operates in include the years 2009 and forward for the U.S., and the years 2008 and forward for certain foreign jurisdictions, including France, Switzerland and Germany. | |||||||||||||
The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrecognized tax benefits – January 1 | $ | 12.6 | $ | 11.3 | $ | 16.6 | |||||||
Additions to tax positions related to prior years | 4.7 | 1.3 | 1.2 | ||||||||||
Reductions to tax positions related to prior years | (0.8 | ) | (0.8 | ) | (0.4 | ) | |||||||
Additions to tax positions related to the current year | 2 | 1.6 | 1.5 | ||||||||||
Settlements | (0.3 | ) | — | (2.2 | ) | ||||||||
Lapse of statute of limitations | (1.7 | ) | (3.0 | ) | (5.1 | ) | |||||||
Acquisitions | — | 2.2 | — | ||||||||||
Currency translation | (0.3 | ) | — | (0.3 | ) | ||||||||
Unrecognized tax benefits – December 31 | $ | 16.2 | $ | 12.6 | $ | 11.3 | |||||||
Substantially all our unrecognized tax benefits at December 31, 2013, 2012 and 2011 would affect the effective tax rate if recognized. | |||||||||||||
Bio-Rad recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. Related to the unrecognized tax benefits noted above, Bio-Rad has accrued interest of $3.4 million , $1.9 million and $2.0 million as of December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
At December 31, 2013, we believe that it is reasonably possible that $1.5 million of our unrecognized tax benefits may be recognized by the end of 2014 as a result of statute lapses. These benefits are related to uncertainty regarding sustainability of certain deductions and credits for tax years that remain subject to examination by the relevant tax authorities. | |||||||||||||
In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in their operations. As of December 31, 2013, Bio-Rad had not made a provision for U.S. or additional foreign withholding taxes on approximately $537 million of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that are essentially permanent in duration. Generally, such amounts become subject to U.S. taxation upon remittance of dividends and under certain other circumstances. If these earnings were repatriated to the U.S., the deferred tax liability associated with these temporary differences would be approximately $108 million. |
7_Stockholders_Equity
7. Stockholders' Equity | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Stockholders' Equity Attributable to Parent [Abstract] | ' | |||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||
7. STOCKHOLDERS' EQUITY | ||||||
Bio-Rad’s issued and outstanding stock consists of Class A Common Stock (Class A) and Class B Common Stock (Class B). Each share of Class A and Class B participates equally in the earnings of Bio-Rad, and is identical in all respects except as follows. Class A has limited voting rights. Each share of Class A is entitled to one tenth of a vote on most matters, and each share of Class B is entitled to one vote. Additionally, Class A stockholders are entitled to elect 25% of the Board of Directors and Class B stockholders are entitled to elect 75% of the directors. Cash dividends may be paid on Class A shares without paying a cash dividend on Class B shares but no cash dividend may be paid on Class B shares unless at least an equal cash dividend is paid on Class A shares. Class B shares are convertible at any time into Class A shares on a one-for-one basis at the option of the stockholder. The founders of Bio-Rad, the Schwartz family, collectively hold a majority of Bio-Rad’s voting stock. As a result, the Schwartz family is able to exercise significant influence over Bio-Rad. | ||||||
Changes to Bio-Rad's common stock shares are as follows (in thousands): | ||||||
Class A Shares | Class B Shares | |||||
Balance at January 1, 2011 | 22,677 | 5,175 | ||||
B to A conversions | 39 | (39 | ) | |||
Issuance of common stock | 304 | 28 | ||||
Balance at December 31, 2011 | 23,020 | 5,165 | ||||
B to A conversions | 59 | (59 | ) | |||
Issuance of common stock | 253 | 44 | ||||
Balance at December 31, 2012 | 23,333 | 5,150 | ||||
B to A conversions | 80 | (80 | ) | |||
Issuance of common stock | 269 | 27 | ||||
Balance at December 31, 2013 | 23,681 | 5,097 | ||||
Treasury Shares | ||||||
The Board of Directors has authorized the repurchase of up to $18.0 million of Bio-Rad's common stock, of which $3.3 million has yet to be repurchased in the open market as of December 31, 2013. The Amended and Restated Credit Agreement (Credit Agreement) limits our ability to repurchase our stock. In accordance with the terms of awards under the 2007 Incentive Award Plan, in June 2012, we withheld 122 shares of our Class A common stock and 917 shares of our Class B common stock to satisfy the minimum statutory tax obligations due upon the vesting of restricted stock of certain of our employees, which is considered a repurchase of our stock. All of the restricted stock has vested as of December 31, 2013, and therefore we do not anticipate any repurchasing of shares for this purpose. We had no other repurchases of our stock during 2013 or 2012. |
8_Accumulated_Other_Comprehens
8. Accumulated Other Comprehensive Income | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||||
accumulated other comprehensive income [Text Block] | ' | ||||||||||||||||||
8. ACCUMULATED OTHER COMPREHENSIVE INCOME | |||||||||||||||||||
Accumulated other comprehensive income included in our Consolidated Balance Sheets and Consolidated Statements of Changes in Stockholders' Equity consists of the following components, all net of income taxes (in millions): | |||||||||||||||||||
Foreign currency translation adjustments | Foreign 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 January 1, 2012 | $ | 149.2 | $ | 0.2 | $ | 49.3 | $ | 198.7 | $ | (0.2 | ) | $ | 198.5 | ||||||
Other comprehensive income (loss), net of tax before reclassifications | 23.6 | (8.5 | ) | 65.4 | 80.5 | — | 80.5 | ||||||||||||
Amounts reclassified from Accumulated other comprehensive income | 0.1 | 0.2 | (5.0 | ) | (4.7 | ) | — | (4.7 | ) | ||||||||||
Net current-period Other comprehensive income (loss), net of tax | 23.7 | (8.3 | ) | 60.4 | 75.8 | — | 75.8 | ||||||||||||
Balance at December 31, 2012 | $ | 172.9 | $ | (8.1 | ) | $ | 109.7 | $ | 274.5 | $ | (0.2 | ) | $ | 274.3 | |||||
Other comprehensive income (loss), net of tax before reclassifications | 16.7 | (0.5 | ) | 49.5 | 65.7 | — | 65.7 | ||||||||||||
Amounts reclassified from Accumulated other comprehensive income | (0.2 | ) | 0.5 | 0.2 | 0.5 | 0.2 | 0.7 | ||||||||||||
Net current-period Other comprehensive income, net of tax | 16.5 | — | 49.7 | 66.2 | 0.2 | 66.4 | |||||||||||||
Balance at December 31, 2013 | $ | 189.4 | $ | (8.1 | ) | $ | 159.4 | $ | 340.7 | $ | — | $ | 340.7 | ||||||
The effects on the Consolidated Statements of Income of amounts reclassified from Accumulated other comprehensive income for the period ended December 31, 2012 are summarized in the following table: | |||||||||||||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item | |||||||||||||||||
Amortization of foreign other post-employment benefit items | (0.3 | ) | Selling, general and administrative expense | ||||||||||||||||
0.1 | Income tax expense | ||||||||||||||||||
$ | (0.2 | ) | Net of income taxes | ||||||||||||||||
Net holding gains on available-for-sale investments | 7.9 | Other (income) expense, net | |||||||||||||||||
(2.9 | ) | Income tax expense | |||||||||||||||||
5 | Net of income taxes | ||||||||||||||||||
The effects on the Consolidated Statements of Income of amounts reclassified from Accumulated other comprehensive income for the period ended December 31, 2013 are summarized in the following table: | |||||||||||||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item | |||||||||||||||||
Amortization of foreign other post-employment benefit items | (0.7 | ) | Selling, general and administrative expense | ||||||||||||||||
0.2 | Income tax expense | ||||||||||||||||||
$ | (0.5 | ) | Net of income taxes | ||||||||||||||||
Net holding losses on available-for-sale investments | (0.3 | ) | Other (income) expense, net | ||||||||||||||||
0.1 | Income tax expense | ||||||||||||||||||
(0.2 | ) | Net of income taxes | |||||||||||||||||
9_Sharebased_Compensation
9. Share-based Compensation | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments | ' | |||||||||||||||||||||
9. SHARE-BASED COMPENSATION/STOCK OPTION AND PURCHASE PLANS | ||||||||||||||||||||||
Description of Share-Based Compensation Plans | ||||||||||||||||||||||
Stock Option and Award Plans | ||||||||||||||||||||||
We have three stock option plans for officers and certain other employees: the 1994 Stock Option Plan (1994 Plan); the 2003 Stock Option Plan (2003 Plan); and the 2007 Incentive Award Plan (2007 Plan). The 1994 Plan and 2003 Plan authorized the grant of incentive stock options and non-qualified stock options to employees. The 2007 Plan authorizes the grant of stock options, restricted stock, restricted stock units, stock appreciation rights and other types of equity awards to employees. We no longer grant stock option grants under the 1994 Plan or 2003 Plan. Since 2007, all share-based compensation grants have been from the 2007 Plan. A total of 1,650,360 shares have been reserved for issuance of equity awards under the 2007 Plan and may be of either Class A or Class B common stock. At December 31, 2013, there were 492,310 shares available to be granted in the future. | ||||||||||||||||||||||
Under the above plans, Class A and Class B options are granted at prices not less than fair market value of the underlying common stock on the date of grant. Generally, options granted have a term of 10 years and vest in increments of 20% per year over a five-year period on the yearly anniversary date of the grant. Stock awards issued under the 2007 Plan generally vest in increments of 20% per year over a five-year period on the yearly anniversary date of the grant. | ||||||||||||||||||||||
Employee Stock Purchase Plans | ||||||||||||||||||||||
Our Amended and Restated 1988 Employee Stock Purchase Plan (1988 ESPP) and our 2011 Employee Stock Purchase Plan (2011 ESPP) provides that eligible employees may contribute up to 10% of their compensation up to $25,000 annually toward the quarterly purchase of our Class A common stock. The employees’ purchase price is 85% of the lesser of the fair market value of the stock on the first business day or the last business day of each calendar quarter. As of January 1, 2012, we no longer issue shares from the 1988 ESPP. | ||||||||||||||||||||||
The 2011 ESPP includes two components: a Code Section 423 Component that we intend to qualify as an “employee stock purchase plan” under Section 423 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) and a Non-423 Component, which authorizes the grant of purchase rights that does not qualify as an “employee stock purchase plan” under Section 423 of the Code. We have authorized the sale of 600,000 shares of Class A common stock under the 2011 ESPP. | ||||||||||||||||||||||
Share-Based Compensation Expense | ||||||||||||||||||||||
Included in our share-based compensation expense is the cost related to stock option grants, ESPP stock purchases, restricted stock and restricted stock unit awards. Share-based compensation expense is allocated to Cost of goods sold, Research and development expense, and Selling, general and administrative expense in the Consolidated Statements of Income. | ||||||||||||||||||||||
For 2013, 2012 and 2011, we recognized share-based compensation expense of $13.7 million, $13.2 million and $10.7 million, respectively. We did not capitalize any share-based compensation expense in inventory. | ||||||||||||||||||||||
For options and awards, we amortize the fair value on a straight-line basis. All stock compensation awards are amortized over the requisite service periods of the awards, which are generally the vesting periods. | ||||||||||||||||||||||
Stock Options | ||||||||||||||||||||||
The following table summarizes stock option activity: | ||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | |||||||||||||||||||
Average | Average | Intrinsic | ||||||||||||||||||||
Exercise Price | Remaining | Value | ||||||||||||||||||||
Contractual | (in millions) | |||||||||||||||||||||
Term (in years) | ||||||||||||||||||||||
Outstanding, January 1, 2011 | 1,057,819 | $ | 57.12 | |||||||||||||||||||
Granted | 58,500 | $ | 99.49 | |||||||||||||||||||
Exercised | (220,372 | ) | $ | 42.44 | ||||||||||||||||||
Forfeited/expired | (7,197 | ) | $ | 62.98 | ||||||||||||||||||
Outstanding, December 31, 2011 | 888,750 | $ | 63.5 | |||||||||||||||||||
Granted | 55,250 | $ | 107.32 | |||||||||||||||||||
Exercised | (181,707 | ) | $ | 44.66 | ||||||||||||||||||
Forfeited/expired | (15,000 | ) | $ | 87.78 | ||||||||||||||||||
Outstanding, December 31, 2012 | 747,293 | $ | 70.83 | |||||||||||||||||||
Granted | 55,050 | $ | 117.67 | |||||||||||||||||||
Exercised | (159,450 | ) | $ | 54.16 | ||||||||||||||||||
Forfeited/expired | (13,250 | ) | $ | 91.32 | ||||||||||||||||||
Outstanding, December 31, 2013 | 629,643 | $ | 78.72 | 4.53 | $ | 28.3 | ||||||||||||||||
Vested and expected to vest, | ||||||||||||||||||||||
December 31, 2013 | 612,946 | $ | 77.91 | 4.41 | $ | 28 | ||||||||||||||||
Exercisable, December 31, 2013 | 472,193 | $ | 70.14 | 3.23 | $ | 25.2 | ||||||||||||||||
The following summarizes information about stock options outstanding at December 31, 2013: | ||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||
Range of | Number | Weighted-Average | Weighted -Average | Number | Weighted - | |||||||||||||||||
Exercise Prices | Outstanding | Remaining | Exercise | Exercisable | Average | |||||||||||||||||
Contractual Term | Price | Exercise Price | ||||||||||||||||||||
(in years) | ||||||||||||||||||||||
$ 53.75 - $ 62.47 | 191,930 | 1.41 | $ | 58.4 | 191,930 | $ | 58.4 | |||||||||||||||
$ 63.00 - $ 75.38 | 178,413 | 3.53 | $ | 69.87 | 168,313 | $ | 69.56 | |||||||||||||||
$ 84.57 - $107.32 | 204,250 | 6.93 | $ | 95.03 | 111,950 | $ | 91.11 | |||||||||||||||
$117.00 - $122.36 | 55,050 | 9.71 | $ | 117.67 | — | $ | — | |||||||||||||||
Totals | 629,643 | 472,193 | ||||||||||||||||||||
Intrinsic value for stock options is defined as the difference between the current market value and the grant price. The total intrinsic value on the date of exercise of stock options exercised during 2013, 2012 and 2011 was approximately $11 million, $11 million and $14 million, respectively. The total fair value of options vested during 2013, 2012 and 2011 was $2.2 million, $2.3 million and $3.3 million, respectively. | ||||||||||||||||||||||
Cash received from stock options exercised during 2013, 2012 and 2011 was $4.1 million, $3.4 million and $7.7 million, respectively. The actual tax benefit realized for the tax deductions from stock options exercised totaled $6.6 million, $6.5 million and $6.0 million in 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
As of December 31, 2013, there was $6.1 million of total unrecognized compensation cost from stock options. This amount is expected to be recognized in the future over a weighted-average period of approximately 3 years. | ||||||||||||||||||||||
The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected volatility | 28 | % | 30 | % | 32 | % | ||||||||||||||||
Risk-free interest rate | 2.65 | % | 1.53 | % | 1.71 | % | ||||||||||||||||
Expected life (in years) | 8.9 | 9 | 8.6 | |||||||||||||||||||
Expected dividend | — | — | — | |||||||||||||||||||
Weighted-average fair value of options granted | $ | 47.25 | $ | 41.82 | $ | 40.81 | ||||||||||||||||
Volatility is based on the historical volatilities of our common stock for a period equal to the stock option’s expected life. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life represents the number of years that we estimate, based primarily on historical experience, that the options will be outstanding prior to exercise. We do not anticipate paying any cash dividends in the future and therefore use an expected dividend yield of zero. | ||||||||||||||||||||||
Restricted Stock | ||||||||||||||||||||||
Under the 2007 Plan, restricted stock was last granted in 2008 and there will be no further grants. The fair value of each share of restricted stock is the market value as determined by the closing price of the stock on the day of grant. | ||||||||||||||||||||||
The following table summarizes restricted stock activity: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Restricted | Weighted- | Restricted | Weighted- | Restricted | Weighted- | |||||||||||||||||
Stock | Average | Stock | Average | Stock | Average | |||||||||||||||||
Shares | Grant-Date | Shares | Grant-Date | Shares | Grant-Date | |||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||
Nonvested shares, at | ||||||||||||||||||||||
beginning of year | 12,957 | $ | 88.09 | 39,629 | $ | 84.07 | 68,893 | $ | 83.21 | |||||||||||||
Vested | (12,610 | ) | $ | 88.09 | (25,124 | ) | $ | 81.98 | (26,179 | ) | $ | 81.98 | ||||||||||
Cancelled/forfeited | (347 | ) | $ | 88 | (1,548 | ) | $ | 84.2 | (3,085 | ) | $ | 82.63 | ||||||||||
Nonvested shares, at | ||||||||||||||||||||||
end of year | — | $ | — | 12,957 | $ | 88.09 | 39,629 | $ | 84.07 | |||||||||||||
As of December 31, 2013, there was no unrecognized compensation cost related to restricted stock. | ||||||||||||||||||||||
Restricted Stock Units | ||||||||||||||||||||||
Restricted stock units, which are rights to receive shares of company stock, were granted from 2007 through 2013 under the 2007 Plan. The fair value of each restricted stock unit is the market value as determined by the closing price of the stock on the day of grant. | ||||||||||||||||||||||
The following table summarizes restricted stock unit activity: | ||||||||||||||||||||||
Restricted | Weighted- | Weighted-Average | Aggregate | |||||||||||||||||||
Stock | Average | Remaining | Intrinsic Value | |||||||||||||||||||
Units | Grant-Date | Contractual Term | as of | |||||||||||||||||||
Fair Value | (in years) | 31-Dec-13 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||||
Outstanding, January 1, 2011 | 242,222 | $ | 80.61 | |||||||||||||||||||
Granted | 127,920 | $ | 98.25 | |||||||||||||||||||
Vested | (54,350 | ) | $ | 79.67 | ||||||||||||||||||
Forfeited | (16,430 | ) | $ | 80.7 | ||||||||||||||||||
Outstanding, December 31, 2011 | 299,362 | $ | 88.31 | |||||||||||||||||||
Granted | 138,840 | $ | 107.32 | |||||||||||||||||||
Vested | (75,466 | ) | $ | 85.52 | ||||||||||||||||||
Forfeited | (14,235 | ) | $ | 89.31 | ||||||||||||||||||
Outstanding, December 31, 2012 | 348,501 | $ | 96.45 | |||||||||||||||||||
Granted | 144,445 | $ | 117.09 | |||||||||||||||||||
Vested | (92,273 | ) | $ | 92.26 | ||||||||||||||||||
Forfeited | (25,243 | ) | $ | 96.08 | ||||||||||||||||||
Outstanding, December 31, 2013 | 375,430 | $ | 105.44 | 2.13 | $ | 46.4 | ||||||||||||||||
As of December 31, 2013, there was approximately $30.5 million of total unrecognized compensation cost related to restricted stock units. This amount is expected to be recognized over a remaining weighted-average period of approximately 4 years. | ||||||||||||||||||||||
Employee Stock Purchase Plans | ||||||||||||||||||||||
The fair value of the employees’ purchase rights under the 2011 ESPP and the 1988 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected volatility | 19 | % | 27 | % | 20 | % | ||||||||||||||||
Risk-free interest rate | 0.05 | % | 0.07 | % | 0.06 | % | ||||||||||||||||
Expected life (in years) | 0.25 | 0.25 | 0.25 | |||||||||||||||||||
Expected dividend | — | — | — | |||||||||||||||||||
Weighted-average fair value | ||||||||||||||||||||||
of purchase rights | $ | 21.76 | $ | 20.7 | $ | 20.35 | ||||||||||||||||
The major assumptions are primarily based on historical data. Volatility is based on the historical volatilities of our common stock for a period equal to the expected life of the purchase rights. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. We do not anticipate paying any cash dividends in the future and therefore use an expected dividend yield of zero. | ||||||||||||||||||||||
We sold 103,669 shares for $10.0 million, 107,749 shares for $9.2 million and 96,362 shares for $8.1 million under the 2011 ESPP and 1988 ESPP to employees in 2013, 2012 and 2011, respectively. At December 31, 2013, 388,582 shares remain authorized and available for issuance under the 2011 ESPP. | ||||||||||||||||||||||
We currently issue new shares to satisfy stock option exercises, restricted stock issuances and ESPP stock purchases. |
10_Other_Income_and_Expenses
10. Other Income and Expenses | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||
Other Income and Other Expense Disclosure | ' | ||||||||||||
10. OTHER INCOME AND EXPENSE, NET | |||||||||||||
Other (income) expense, net includes the following components (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Interest and investment income | $ | (13.4 | ) | $ | (11.4 | ) | $ | (8.2 | ) | ||||
Net realized losses (gains) on investments | 0.3 | (8.7 | ) | (0.7 | ) | ||||||||
Other-than-temporary impairment losses on investments | 0.3 | 1 | 2.1 | ||||||||||
Losses (gains) on disposal of property, plant and equipment | 0.5 | (3.8 | ) | 0.2 | |||||||||
Miscellaneous other (income) expense items, net | (0.5 | ) | 1 | (1.0 | ) | ||||||||
Other (income) expense, net | $ | (12.8 | ) | $ | (21.9 | ) | $ | (7.6 | ) | ||||
Other-than-temporary impairment losses on investments were recorded in 2013, 2012 and 2011 on certain of our available-for-sale investments in light of the continuing declines in their market prices at that time, primarily associated with our investment in a sovereign nation with large deficits and our decision to sell holdings in a particular adviser account. | |||||||||||||
In December 2012, we sold a building for $6.4 million in our Clinical Diagnostics segment that was associated with a 1999 acquisition. We recognized a gain on the sale of $4.3 million and a portion of goodwill recorded in a 1999 acquisition was written off of $1.0 million. |
11_Supplemental_Cash_Flow_Info
11. Supplemental Cash Flow Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | ||||||||||||
11. SUPPLEMENTAL CASH FLOW INFORMATION | |||||||||||||
The reconciliation of net income including noncontrolling interests to net cash provided by operating activities is as follows (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income including noncontrolling interests | $ | 77.8 | $ | 165.5 | $ | 178.8 | |||||||
Adjustments to reconcile net income including | |||||||||||||
noncontrolling interests to net cash provided by | |||||||||||||
operating activities (net of effects of acquisitions): | |||||||||||||
Depreciation and amortization | 147.2 | 130.4 | 121 | ||||||||||
Share-based compensation | 13.7 | 13.2 | 10.7 | ||||||||||
Losses (gains) on dispositions of securities | 0.6 | (7.6 | ) | 1.5 | |||||||||
Losses (gains) on dispositions of fixed assets | 0.5 | (4.8 | ) | 0.2 | |||||||||
Excess tax benefits from share-based compensation | (2.7 | ) | (2.9 | ) | (3.2 | ) | |||||||
Changes in fair value of contingent consideration | (5.8 | ) | (16.1 | ) | — | ||||||||
(Increase) decrease in accounts receivable, net | (24.2 | ) | 4.4 | (20.1 | ) | ||||||||
Increase in inventories, net | (33.4 | ) | (4.3 | ) | (45.2 | ) | |||||||
Increase in other current assets | (4.2 | ) | (5.6 | ) | 11.1 | ||||||||
Increase (decrease) in accounts payable | |||||||||||||
and other current liabilities | 33.2 | 19 | (6.6 | ) | |||||||||
(Decrease) increase in income taxes payable | (38.0 | ) | (18.0 | ) | 5.4 | ||||||||
Decrease in deferred income taxes | (4.0 | ) | (10.3 | ) | (1.6 | ) | |||||||
Write-off of goodwill | — | 1 | — | ||||||||||
Net increase/decrease in other long-term liabilities/assets | 14.8 | 12.1 | 10.7 | ||||||||||
Net cash provided by operating activities | $ | 175.5 | $ | 276 | $ | 262.7 | |||||||
Non-cash investing activities: | |||||||||||||
Purchased intangible assets | $ | 12 | $ | 0.5 | $ | — | |||||||
Purchased marketable securities and investments | $ | 0.4 | $ | 1.6 | $ | 11.6 | |||||||
12_Commitments_Contingent_Liab
12. Commitments & Contingent Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
12. COMMITMENTS AND CONTINGENT LIABILITIES | |
Rents and Leases | |
Net rental expense under operating leases was $45.5 million, $41.4 million and $42.4 million in 2013, 2012 and 2011, respectively. Leases are principally for facilities and automobiles. | |
Annual future minimum lease payments at December 31, 2013 under operating leases are as follows: 2014 - $39.1 million; 2015 - $30.1 million; 2016 - $24.0 million; 2017 - $18.6 million; and 2018 and beyond - $49.8 million. | |
Deferred Profit Sharing Retirement Plan | |
We have a profit sharing plan covering substantially all U.S. employees. Contributions are made at the discretion of the Board of Directors. Bio-Rad has no liability other than for the current year’s contribution. Contribution expense was $13.5 million, $12.1 million and $12.1 million in 2013, 2012 and 2011, respectively. | |
Other Post-Employment Benefits | |
In several foreign locations we are statutorily required to provide a lump sum severance or termination indemnity to our employees. Under these plans, the vested benefit obligation at December 31, 2013 and 2012 was $46.3 million and $39.5 million, respectively, and has been included in Other current liabilities and Other long-term liabilities in the Consolidated Balance Sheets. These plans are not required to be funded, and as such, there is no trust or other device used to accumulate assets to settle these obligations. | |
Purchase Obligations | |
As of December 31, 2013, we had obligations that have been recognized on our balance sheet of $99.0 million, which include agreements to purchase goods or services that are enforceable and legally binding to Bio-Rad and that specify all significant terms and exclude agreements that are cancelable without penalty. | |
The annual future fixed and determinable portion of our purchase obligations that have been recognized on our balance sheet as of December 31, 2013 are as follows: 2015 to 2016 - $32.3 million, 2017 to 2018 - $7.3 million and after 2018 - $59.4 million. | |
As of December 31, 2013, we had purchase obligations that have not been recognized on our balance sheet of $65.4 million, which include agreements to purchase goods or services that are enforceable and legally binding to Bio-Rad and that specify all significant terms and exclude agreements that are cancelable without penalty. | |
The annual future fixed and determinable portion of our purchase obligations that have not been recognized on our balance sheet as of December 31, 2013 are as follows: 2014 - $57.4 million, 2015 - $7.2 million, 2016 - $0.4 million and 2017 - $0.4 million. | |
Letters of Credit | |
In the ordinary course of business, we are at times required to post letters of credit. The letters of credit are issued by our banks to guarantee our obligations to various parties including insurance companies. We were contingently liable for $8.2 million of standby letters of credit with banks as of December 31, 2013. | |
Contingent Consideration | |
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. The development milestone was met as of December 31, 2012, resulting in a payment of $6.0 million in January 2013. During 2012, the first three short-term sales milestones were not met and therefore the fair value of the contingent consideration was lowered by $16.1 million and credited to Selling, general and administrative expense. During 2013, we did not expect that any of the remaining sales milestones would be met and therefore $2.0 million of the remaining contingent consideration liability was credited to Selling, general and administrative expense. | |
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 fair value of the contingent consideration was based on a probability-weighted income approach related to the achievement of certain development and sales milestones and was recorded at $44.6 million in 2012. The development milestones have been achieved and payments totaling $20.0 million were made in 2013. 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 contingent consideration was revalued by a net reduction of $3.8 million to Selling, general and administrative expense to its estimated fair value of $20.8 million as of December 31, 2013. | |
Concentrations of Labor Subject to Collective Bargaining Agreements | |
At December 31, 2013, approximately seven percent of Bio-Rad's approximately 3,000 U.S. employees are covered by a collective bargaining agreement, which will expire on November 8, 2016. Many of Bio-Rad's non-U.S. full-time employees, especially in France, are covered by collective bargaining agreements. |
13_Legal_Proceedings
13. Legal Proceedings | 12 Months Ended |
Dec. 31, 2013 | |
Legal Proceedings [Abstract] | ' |
Legal Matters and Contingencies | ' |
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 been engaged in 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 Estimated loss contingency recorded in the latter half of 2013 of $35.0 million, including $5.0 million of accrued 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. |
14_Segment_Reporting
14. Segment Reporting | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
14. SEGMENT INFORMATION | |||||||||||||
Bio-Rad is a multinational manufacturer and worldwide distributor of its own life science research products and clinical diagnostics products. We have two reportable segments: Life Science and Clinical Diagnostics. These reportable segments are strategic business lines that offer more than 8,000 different products and services and require different marketing strategies. We do not disclose quantitative information about our different products and services as it is impractical to do so based primarily on the numerous products and services that we sell and the global markets that we serve. | |||||||||||||
The Life Science segment develops, manufactures, sells and services reagents, apparatus and instruments used for biological research. These products are sold to university and medical school laboratories, pharmaceutical and biotechnology companies, food testing laboratories and government and industrial research facilities. | |||||||||||||
The Clinical Diagnostics segment develops, manufactures, sells and services automated test systems, informatics systems, test kits and specialized quality controls for the healthcare market. These products are sold to reference laboratories, hospital laboratories, state newborn screening facilities, physicians’ office laboratories, transfusion laboratories and insurance and forensic testing laboratories. | |||||||||||||
Other Operations include the remainder of our former Analytical Instruments segment. | |||||||||||||
Segment results are presented in the same manner as we present our operations internally to make operating decisions and assess performance. The accounting policies of the segments are the same as those described in Significant Accounting Policies (see Note 1). Segment profit or loss includes an allocation of corporate expense based upon sales and an allocation of interest expense based upon accounts receivable and inventories. The difference between total segment allocated interest expense, depreciation and amortization, and capital expenditures and the corresponding consolidated amounts is attributable to our corporate headquarters. Segments are expected to manage only assets completely under their control. Accordingly, segment assets include primarily accounts receivable, inventories and gross machinery and equipment. Goodwill balances have been included in corporate for segment reporting purposes. | |||||||||||||
Information regarding industry segments at December 31, 2013, 2012, and 2011 and for the years then ended is as follows (in millions): | |||||||||||||
Life | Clinical | Other | |||||||||||
Science | Diagnostics | Operations | |||||||||||
Segment net sales | 2013 | $ | 710 | $ | 1,408.00 | $ | 14.7 | ||||||
2012 | 688.4 | 1,365.50 | 15.3 | ||||||||||
2011 | 694.7 | 1,363.80 | 15 | ||||||||||
Allocated interest expense | 2013 | $ | 10.4 | $ | 30.1 | $ | 0.1 | ||||||
2012 | 13.4 | 37.8 | 0.2 | ||||||||||
2011 | 14.2 | 38.9 | 0.2 | ||||||||||
Depreciation and amortization | 2013 | $ | 32.6 | $ | 91.5 | $ | 0.1 | ||||||
2012 | 26.3 | 92.9 | 0.1 | ||||||||||
2011 | 17.3 | 93.2 | 0.2 | ||||||||||
Segment (loss) profit | 2013 | $ | (13.7 | ) | $ | 176.2 | $ | 1.1 | |||||
2012 | 13.2 | 202.6 | 1.6 | ||||||||||
2011 | 46.7 | 206.7 | 1.3 | ||||||||||
Segment assets | 2013 | $ | 389.1 | $ | 980.9 | $ | 5.1 | ||||||
2012 | 359.9 | 917 | 4.3 | ||||||||||
Capital expenditures | 2013 | $ | 19.8 | $ | 72.8 | $ | 0.2 | ||||||
2012 | 17.3 | 76.8 | 0.1 | ||||||||||
Net corporate operating expense 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. In 2013, this included the accrual of $35.0 million in connection with our initial efforts to resolve the SEC and DOJ investigations relating to the FCPA that was recorded in the latter half of 2013 (see Note 13), and the $15.6 million expense for the redemption of our 8.0% Senior Subordinated Notes (see Note 5). The following reconciles total segment profit to consolidated income before taxes (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Total segment profit | $ | 163.6 | $ | 217.4 | $ | 254.7 | |||||||
Foreign exchange losses | (8.6 | ) | (5.0 | ) | (13.8 | ) | |||||||
Net corporate operating, interest and other expense, net not allocated to segments | (55.4 | ) | (4.4 | ) | (2.7 | ) | |||||||
Other income (expense), net | 12.8 | 21.9 | 7.6 | ||||||||||
Consolidated income before taxes | $ | 112.4 | $ | 229.9 | $ | 245.8 | |||||||
The following reconciles total segment assets to consolidated total assets (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Total segment assets | $ | 1,375.10 | $ | 1,281.20 | |||||||||
Cash and other current assets | 835.1 | 1,092.00 | |||||||||||
Property, plant and equipment, net, excluding | |||||||||||||
segment specific gross machinery and equipment | (14.9 | ) | (4.2 | ) | |||||||||
Goodwill, net | 517.8 | 495.4 | |||||||||||
Other long-term assets | 675.7 | 579.1 | |||||||||||
Total assets | $ | 3,388.80 | $ | 3,443.50 | |||||||||
The following presents net sales to external customers by geographic region based primarily on the location of the use of the product or service (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Europe | $ | 886.1 | $ | 837 | $ | 896.4 | |||||||
Pacific Rim | 413.3 | 425.7 | 398.4 | ||||||||||
United States | 677.7 | 656.7 | 631 | ||||||||||
Other (primarily Canada and Latin America) | 155.6 | 149.8 | 147.7 | ||||||||||
Total net sales | $ | 2,132.70 | $ | 2,069.20 | $ | 2,073.50 | |||||||
The following presents Other assets and Property, plant and equipment, net by geographic region based upon the location of the asset (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Europe | $ | 217.4 | $ | 199.1 | |||||||||
Pacific Rim | 28.2 | 30 | |||||||||||
United States | 579.9 | 487.8 | |||||||||||
Other (primarily Canada and Latin America) | 13.4 | 18.1 | |||||||||||
Total Other assets and Property, plant and equipment, net | $ | 838.9 | $ | 735 | |||||||||
15_Quarterly_Financial_Data
15. Quarterly Financial Data | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data [Text Block] | ' | ||||||||||||||||
15. QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||
During the third quarter of 2013, we identified errors in the consolidated financial statements for the years 2011 and 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 inappropriately expensing inventory in amounts greater than actual costs for non-sales transactions, primarily related to inventory being used for demonstration purposes and product samples that are recorded to Selling, general and administrative expense. In addition, the Life Science segment inventory error affected cost of goods sold as we relieved inventory at a higher cost than incurred on limited sales to third parties produced in a non-U.S. manufacturing facility. | |||||||||||||||||
During the third quarter of 2013, we revised the classification of one item for all periods presented from “Provision for income taxes” to “Research and development expense” in our Consolidated Statements of Income to conform to the current year presentation. The item reclassified pertains to a refundable French R&D tax credit, which after the reclassification reduces Research and development expense. We believe this presentation is appropriate as we are not required to have taxable income in order to earn the credits. | |||||||||||||||||
Management evaluated the materiality of all the errors described above 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 are correcting these errors in every affected period in the 2013 Financial Statements included in this Form 10-K. | |||||||||||||||||
The impact of the immaterial error correction, and the reclassification, both described above are presented on a as reported, adjustment and as revised basis in the following summarized quarterly financial data for 2013 and 2012 (in millions, except per share data): | |||||||||||||||||
As reported: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 499.7 | $ | 525.3 | $ | 505.1 | $ | 602.6 | |||||||||
Gross profit | 271.4 | 300.1 | 284.2 | 322.7 | |||||||||||||
Net income (loss) attributable to Bio-Rad | 19.5 | 34.7 | (7.1 | ) | 30.1 | ||||||||||||
Basic earnings (loss) per share | $ | 0.68 | $ | 1.22 | $ | (0.25 | ) | $ | 1.05 | ||||||||
Diluted earnings (loss) per share | $ | 0.68 | $ | 1.2 | $ | (0.25 | ) | $ | 1.04 | ||||||||
2012 | |||||||||||||||||
Net sales | $ | 486.3 | $ | 510.4 | $ | 498.7 | $ | 573.8 | |||||||||
Gross profit | 278.6 | 287.9 | 273.5 | 314.1 | |||||||||||||
Net income attributable to Bio-Rad | 31 | 48.3 | 42.4 | 42 | |||||||||||||
Basic earnings per share | $ | 1.1 | $ | 1.71 | $ | 1.5 | $ | 1.48 | |||||||||
Diluted earnings per share | $ | 1.09 | $ | 1.69 | $ | 1.48 | $ | 1.46 | |||||||||
Adjustments: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | — | $ | — | $ | — | $ | — | |||||||||
Gross profit | — | — | — | — | |||||||||||||
Net income (loss) attributable to Bio-Rad | 0.7 | (0.1 | ) | — | — | ||||||||||||
Basic earnings (loss) per share | $ | 0.03 | $ | (0.01 | ) | $ | — | $ | — | ||||||||
Diluted earnings (loss) per share | $ | 0.02 | $ | — | $ | — | $ | — | |||||||||
2012 | |||||||||||||||||
Net sales | $ | — | $ | — | $ | — | $ | — | |||||||||
Gross profit | 0.1 | 0.2 | 0.3 | 0.4 | |||||||||||||
Net income attributable to Bio-Rad | 0.5 | (0.2 | ) | 0.2 | 1.2 | ||||||||||||
Basic earnings per share | $ | 0.02 | $ | (0.01 | ) | $ | 0.01 | $ | 0.04 | ||||||||
Diluted earnings per share | $ | 0.01 | $ | (0.01 | ) | $ | 0.01 | $ | 0.05 | ||||||||
As revised: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 499.7 | $ | 525.3 | $ | 505.1 | $ | 602.6 | |||||||||
Gross profit | 271.4 | 300.1 | 284.2 | 322.7 | |||||||||||||
Net income (loss) attributable to Bio-Rad | 20.2 | 34.6 | (7.1 | ) | 30.1 | ||||||||||||
Basic earnings (loss) per share | $ | 0.71 | $ | 1.21 | $ | (0.25 | ) | $ | 1.05 | ||||||||
Diluted earnings (loss) per share | $ | 0.7 | $ | 1.2 | $ | (0.25 | ) | $ | 1.04 | ||||||||
2012 | |||||||||||||||||
Net sales | $ | 486.3 | $ | 510.4 | $ | 498.7 | $ | 573.8 | |||||||||
Gross profit | 278.7 | 288.1 | 273.8 | 314.5 | |||||||||||||
Net income attributable to Bio-Rad | 31.5 | 48.1 | 42.6 | 43.2 | |||||||||||||
Basic earnings per share | $ | 1.12 | $ | 1.7 | $ | 1.51 | $ | 1.52 | |||||||||
Diluted earnings per share | $ | 1.1 | $ | 1.68 | $ | 1.49 | $ | 1.51 | |||||||||
During the first quarter of 2012, we identified an error in the consolidated financial statements for the years 2007 through 2011, related to a foreign supplemental tax associated with social benefits. We incorrectly interpreted and applied the local statutes to our circumstances. We accrued $6.1 million for these foreign supplemental taxes, including penalties and interest, during the first quarter of 2012, all of which has been paid. The foreign supplemental tax, and the related penalties and interest, were not deductible for income tax purposes, and as such this error did not have an impact on Bio-Rad's provision for income taxes. | |||||||||||||||||
We evaluated the materiality of this error from a qualitative and quantitative perspective. Based on such evaluation, we concluded that while the accumulation of this error was significant to the three-month period ended March 31, 2012, the correction was not material to any individual prior period or for the year ended December 31, 2012, nor did it 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). |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accoutns | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||||||
BIO-RAD LABORATORIES, INC. | |||||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
Years Ended December 31, 2013, 2012, and 2011 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Allowance for doubtful accounts receivable | |||||||||||||||||||||
Balance at | Additions | Deductions | Balance at | ||||||||||||||||||
Beginning | Charged to Costs | End of Year | |||||||||||||||||||
of Year | and Expenses | ||||||||||||||||||||
2013 | $ | 29,202 | $ | 9,181 | $ | (5,912 | ) | $ | 32,471 | ||||||||||||
2012 | $ | 33,259 | $ | 7,597 | $ | (11,654 | ) | $ | 29,202 | ||||||||||||
2011 | $ | 25,052 | $ | 15,112 | $ | (6,905 | ) | $ | 33,259 | ||||||||||||
Valuation allowance for current and long-term deferred tax assets | |||||||||||||||||||||
Balance at | Additions Charged | Deductions | Other (A) | Balance at | |||||||||||||||||
Beginning | (Credited) to Income | End of Year | |||||||||||||||||||
of Year | Tax Expense | ||||||||||||||||||||
2013 | $ | 52,856 | $ | 11,155 | $ | — | $ | — | $ | 64,011 | |||||||||||
2012 | $ | 48,926 | $ | 3,700 | $ | — | $ | 230 | $ | 52,856 | |||||||||||
2011 | $ | 37,015 | $ | 6,356 | $ | — | $ | 5,555 | $ | 48,926 | |||||||||||
(A) Due to acquisitions. |
1_Significant_Accounting_Polic1
1. Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | |||||||||
Research and Development | ||||||||||
Internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed. | ||||||||||
Basis of Presentation | ' | |||||||||
Basis of Presentation | ||||||||||
The consolidated financial statements include the accounts of Bio-Rad Laboratories, Inc. and all of our wholly and majority owned subsidiaries (referred to in this report as “Bio-Rad,” “we,” “us” and “our”) after elimination of intercompany balances and transactions. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | ||||||||||
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. | ||||||||||
Cash and Cash Equivalents | ' | |||||||||
Cash and Cash Equivalents | ||||||||||
Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less which are readily convertible into cash. Cash equivalents are stated at cost, which approximates fair value. | ||||||||||
Available-for-sale Investments | ' | |||||||||
Available-for-Sale Investments | ||||||||||
Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities, U.S. government sponsored agencies and marketable equity securities. Management classifies investments at the time of purchase and reevaluates such classification at each balance sheet date. Investments with maturities beyond one year may be classified as short-term based on their liquid nature and because such marketable securities represent the investment of cash that is available for current operations. Available-for-sale investments are reported at fair value based on quoted market prices and other observable market data. Unrealized gains and losses are reported as a component of other comprehensive income, net of any related tax effect. Unrealized losses are charged against income when a decline in the fair value of an individual security is determined to be other-than-temporary. We review our available-for-sale investments for other-than-temporary losses on a quarterly basis. Realized gains and losses and other-than-temporary impairments on investments are included in Other (income) expense, net (see Note 10). | ||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | |||||||||
Concentration of Credit Risk | ||||||||||
Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, investments, foreign exchange contracts and trade accounts receivable. Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions. Bio-Rad has not sustained significant losses from instruments held at financial institutions. | ||||||||||
The forward contracts used in managing our foreign currency exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements. We attempt to minimize this risk by limiting the counterparties to a diverse group of highly-rated domestic and international financial institutions. In the event of non-performance by these counterparties, the carrying values of our financial instruments represent the maximum amount of loss we would have incurred as of our fiscal year-end. However, we do not expect to record any losses as a result of counterparty default. | ||||||||||
We perform credit evaluation procedures related to our trade receivables and with the exception of certain developing countries, generally do not require collateral. As a result of increased risk in certain developing countries, some Bio-Rad sales are subject to collateral letters of credit from our customers. Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. However, a significant amount of trade receivables are with national healthcare systems in countries within the European Union. | ||||||||||
Accounts Receivable | ' | |||||||||
Accounts Receivable | ||||||||||
We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The amount of the allowance is determined by analyzing known uncollectible accounts, aged receivables, economic conditions in the customers’ country or industry, historical losses and our customers’ credit-worthiness. Amounts later determined and specifically identified to be uncollectible are charged or written off against this allowance. | ||||||||||
Inventory | ' | |||||||||
Inventory | ||||||||||
Inventories are valued at the lower of actual cost or market (net realizable value) and include material, labor and overhead costs. The first-in, first-out method is used to relieve inventory for products sold. | ||||||||||
Property, Plant and Equipment | ' | |||||||||
Property, Plant and Equipment | ||||||||||
Property, plant and equipment are carried at cost, less accumulated depreciation and amortization. Included in property, plant and equipment are buildings and equipment acquired under capital lease arrangements, reagent rental equipment and capitalized software, including costs for software developed or obtained for internal use. Property, plant and equipment are assessed for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. | ||||||||||
Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Buildings and leasehold improvements are amortized over 15-30 years or the term of the leases or life of the improvements, whichever is shorter. With the exception of reagent rental equipment, which is amortized over a 1-5 year period, equipment and capitalized software is depreciated over 3-12 years. | ||||||||||
Goodwill | ' | |||||||||
Goodwill | ||||||||||
Goodwill represents the excess of the cost over the fair value of net tangible and identifiable intangible assets of acquired businesses. Goodwill is assessed for impairment by applying fair value based tests annually in the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. We perform impairment tests of goodwill at our reporting unit level, which is one level below our operating segments. Our reporting units are identified as components for which discrete financial information is available and is regularly reviewed by management. Goodwill amounts are assigned to reporting units at the time of acquisition. | ||||||||||
The goodwill impairment test consists of a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit to its carrying value, including goodwill. We use a projected discounted cash flow model to determine the fair value of a reporting unit. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired, and the second step of the impairment test is not required. The second step, if required, compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. The fair value of a reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the price paid to acquire the reporting unit. If the carrying amount of the reporting unit’s goodwill exceeds its implied fair value, an impairment charge is recognized in an amount equal to that excess. | ||||||||||
Long-Lived Assets | ' | |||||||||
Long-Lived Assets | ||||||||||
For purposes of recognition and measurement of an impairment loss, a long-lived asset or assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. We assess the impairment of long-lived assets (including identifiable intangible assets) quarterly or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that we consider important that could trigger an impairment review include: | ||||||||||
• | significant under-performance relative to expected, historical or projected future operating results; | |||||||||
• | significant changes in the manner of use of the long-lived assets, intangible assets or the strategy for our overall business; | |||||||||
• | a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of at a loss before the end of its previously estimated useful life; and | |||||||||
• | significant negative industry, legal, regulatory or economic trends. | |||||||||
When management determines that the carrying value of long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, we test for any impairment based on a projected undiscounted cash flow method. Projected future operating results and cash flows of the asset or asset group are used to establish the fair value used in evaluating the carrying value of long-lived and intangible assets. We estimate the future cash flows of the long-lived assets using current and long-term financial forecasts. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If this is the case, an impairment loss would be recognized. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value. | ||||||||||
Income Taxes | ' | |||||||||
Income Taxes | ||||||||||
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities reflect the tax effects of losses, credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. They are determined using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. | ||||||||||
We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. To the extent we determine that we are able to realize our deferred income tax assets in the future in excess of their net recorded amount, we make an adjustment to the valuation allowance which may reduce the provision for income taxes. When we establish or reduce the valuation allowance against our deferred tax assets, our provision for income taxes will increase or decrease, respectively, in the period that determination to change the valuation allowance is made. | ||||||||||
We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements on a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. We recognize both accrued interest and penalties, where appropriate, related to unrecognized tax benefits in the provision for income taxes. | ||||||||||
Revenue Recognition | ' | |||||||||
Revenue Recognition | ||||||||||
Revenue is recognized when pervasive evidence of an arrangement exists, the price to the buyer is fixed or determinable, collectability is reasonably assured and title has passed to the customer or product has been delivered absent specific contractual specifications. Revenue associated with equipment that requires factory installation is not recorded until installation is complete and customer acceptance, if required contractually, has occurred. At the time revenue is recognized, a provision is recognized for estimated product returns. Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement, or as services are performed if not under contract. | ||||||||||
Reagent agreements are a diagnostic industry sales method that provides use of an instrument and consumables (reagents) to a customer on a per test basis. We evaluate our reagent agreements and account for these contracts under the guidance pertaining to accounting for revenue arrangements with multiple deliverables. Our reagent agreements represent one unit of accounting as the instrument and consumables are interdependent in producing a diagnostic result that neither has a stand-alone value with respect to these agreements. All revenues that we earn under our reagent agreements are recognized pursuant to the terms of each agreement and are based and entirely contingent upon either (i) when the consumables to conduct a fixed number of tests are delivered or (ii) as reported by the customer on a per test basis. | ||||||||||
Shipping and Handling | ' | |||||||||
Shipping and Handling | ||||||||||
We classify all freight costs billed to customers as Net sales. Related freight costs are included in Cost of goods sold. | ||||||||||
Warranty | ' | |||||||||
Warranty | ||||||||||
We warrant certain equipment against defects in design, materials and workmanship, mostly 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. | ||||||||||
Changes in the warranty accrual, included in Other current liabilities and Other long-term liabilities, were as follows (in millions): | ||||||||||
2013 | 2012 | |||||||||
1-Jan | $ | 16.4 | $ | 16.4 | ||||||
Provision for warranty | 15.6 | 19.8 | ||||||||
Actual warranty costs | (16.4 | ) | (19.8 | ) | ||||||
31-Dec | $ | 15.6 | $ | 16.4 | ||||||
Foreign Currency | ' | |||||||||
Foreign Currency | ||||||||||
Balance sheet accounts of international subsidiaries are translated at the current exchange rates as of the end of each accounting period. Income statement items are translated at average exchange rates for the period. The resulting translation adjustments are recorded as a separate component of stockholders’ equity. | ||||||||||
Foreign currency transaction gains and losses are included in Foreign exchange losses, net in the Consolidated Statements of Income. Transaction gains and losses result primarily from fluctuations in exchange rates when intercompany receivables and payables are denominated in currencies other than the functional currency of our subsidiary that recorded the transaction. | ||||||||||
Forward Foreign Exchange Contracts | ' | |||||||||
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 exchange rates that affect foreign currency denominated intercompany receivables and payables. We do not use derivative financial instruments for speculative or trading purposes, nor do we seek hedge accounting treatment for any of our contracts. As a result, these contracts, generally with maturity dates of 90 days or less and denominated primarily in currencies of industrial countries, are recorded as an asset or liability measured at their fair value at each balance sheet date. The resulting gains or losses offset exchange gains or losses, on the related receivables and payables, all of which are recorded as Foreign exchange losses, net in the Consolidated Statements of Income. | ||||||||||
Noncontrolling Interests | ' | |||||||||
Noncontrolling Interests | ||||||||||
A noncontrolling interest in a subsidiary is an ownership interest in a consolidated entity that is reported as equity in the consolidated financial statements and separate from Bio-Rad’s equity. In addition, net income (loss) attributable to noncontrolling interests is reported separately from net income attributable to Bio-Rad in the consolidated financial statements. Our consolidated statements presented the full amount of assets, liabilities, income and expenses of all of our consolidated subsidiaries, with a partially offsetting amount shown in noncontrolling interests for the portion of assets and liabilities that were not controlled by us. | ||||||||||
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, and therefore there are no noncontrolling interests in Bio-Rad. | ||||||||||
Share-based Compensation Plans | ' | |||||||||
Share-Based Compensation Plans | ||||||||||
Stock-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value. We recognize these compensation costs net of estimated forfeitures over the requisite service period of the award, which is generally the vesting term of the share-based payment awards. We estimated the forfeiture rate based on our historical experience. These plans are described more fully in Note 9. | ||||||||||
Earnings Per Share | ' | |||||||||
Earnings Per Share | ||||||||||
Basic earnings per share is computed by dividing net income attributable to Bio-Rad by the weighted average number of common shares outstanding for that period. Diluted 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 earnings per share calculation if the effect would be anti-dilutive. | ||||||||||
Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share (EPS) pursuant to the two-class method. As our unvested restricted shares qualify as participating securities, we have included these shares in the computation of EPS. | ||||||||||
The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share and the anti-dilutive shares are as follows (in thousands): | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic weighted average shares outstanding | 28,586 | 28,290 | 28,031 | |||||||
Effect of potentially dilutive stock options | ||||||||||
and restricted stock awards | 320 | 352 | 437 | |||||||
Diluted weighted average common shares | 28,906 | 28,642 | 28,468 | |||||||
Anti-dilutive stock options and restricted stock awards | ||||||||||
excluded from the computation of diluted EPS | 107 | 83 | 63 | |||||||
Fair Value of Financial Instruments | ' | |||||||||
Fair Value of Financial Instruments | ||||||||||
For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, accounts payable and foreign exchange contracts, the carrying amounts approximate fair value. | ||||||||||
The estimated fair value of financial instruments is based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) using available market information or other appropriate valuation methodologies in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. 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 (see Note 3). | ||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |||||||||
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. This guidance is related to disclosure only and therefore did not have an impact on our consolidated financial position, results of operations or cash flows. |
1_Significant_Accounting_Polic2
1. Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||||||||||
Schedule of Quantifying Prior Year Misstatements Corrected in Current Year Financial Statements [Table Text Block] | ' | |||||||||||||||||||
The impact of the immaterial error correction, and the reclassification, both described above on our Consolidated Balance Sheet and Consolidated Statements of Income for the periods presented is as follows (in thousands, except per share data): | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
As reported | Adjustment | As revised | ||||||||||||||||||
Inventories: finished goods | $ | 230,624 | $ | 6,750 | $ | 237,374 | ||||||||||||||
Total inventories | 448,370 | 6,750 | 455,120 | |||||||||||||||||
Total current assets | 1,929,932 | 6,750 | 1,936,682 | |||||||||||||||||
Total assets | 3,436,753 | 6,750 | 3,443,503 | |||||||||||||||||
Income and other taxes payable | 32,299 | 2,480 | 34,779 | |||||||||||||||||
Total current liabilities | 469,920 | 2,480 | 472,400 | |||||||||||||||||
Total liabilities | 1,425,483 | 2,480 | 1,427,963 | |||||||||||||||||
Total stockholders' equity | 2,011,270 | 4,270 | 2,015,540 | |||||||||||||||||
Total liabilities and stockholders' equity | $ | 3,436,753 | $ | 6,750 | $ | 3,443,503 | ||||||||||||||
Year ended December 31, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As reported | Adjustment | As revised | As reported | Adjustment | As revised | |||||||||||||||
Cost of goods sold | $ | 915,097 | $ | (1,020 | ) | $ | 914,077 | $ | 895,640 | $ | (940 | ) | $ | 894,700 | ||||||
Gross profit | 1,154,138 | 1,020 | 1,155,158 | 1,177,889 | 940 | 1,178,829 | ||||||||||||||
Selling, general and administrative expense | 682,898 | (1,120 | ) | 681,778 | 696,294 | (310 | ) | 695,984 | ||||||||||||
Research and development expense | 214,040 | (4,836 | ) | 209,204 | 186,439 | (8,835 | ) | 177,604 | ||||||||||||
Income from operations | 257,200 | 6,976 | 264,176 | 295,156 | 10,085 | 305,241 | ||||||||||||||
Income before income taxes | 222,931 | 6,976 | 229,907 | 235,762 | 10,085 | 245,847 | ||||||||||||||
Provision for income taxes | 59,084 | 5,277 | 64,361 | 57,739 | 9,295 | 67,034 | ||||||||||||||
Net income including noncontrolling interests | 163,847 | 1,699 | 165,546 | 178,023 | 790 | 178,813 | ||||||||||||||
Net income attributable to Bio-Rad | $ | 163,778 | $ | 1,699 | $ | 165,477 | $ | 178,223 | $ | 790 | $ | 179,013 | ||||||||
Net income per basic share attributable to Bio-Rad | $ | 5.79 | $ | 0.06 | $ | 5.85 | $ | 6.36 | $ | 0.03 | $ | 6.39 | ||||||||
Net income per diluted share attributable to Bio-Rad | $ | 5.72 | $ | 0.06 | $ | 5.78 | $ | 6.26 | $ | 0.03 | $ | 6.29 | ||||||||
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: | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
Net unrealized holding gains on AFS investments, net of income tax, understated by $10,090 for the year ended 2012, and overstated by $208 for the year ended 2011. | $65,448 | $12,663 | ||||||||||||||||||
Income taxes on net unrealized holding gains on AFS investments, understated by $5,874 for the year ended 2012, and overstated by $121 for the year ended 2011. | $38,108 | $7,373 | ||||||||||||||||||
Reclassification adjustments for net holding (gains) losses on AFS investments included in Net income including noncontrolling interests, net of income tax, understated by $10,090 for the year ended 2012, and overstated by $208 for the year ended 2011. | ($5,045) | $104 | ||||||||||||||||||
Income taxes on reclassification adjustments for net holding gains/losses on AFS investments included in Net income including noncontrolling interests, understated by $5,874 for the year ended 2012, and overstated by $121 for the year ended 2011. | ($2,937) | $61 | ||||||||||||||||||
Schedule of Product Warranty Liability | ' | |||||||||||||||||||
Changes in the warranty accrual, included in Other current liabilities and Other long-term liabilities, were as follows (in millions): | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
1-Jan | $ | 16.4 | $ | 16.4 | ||||||||||||||||
Provision for warranty | 15.6 | 19.8 | ||||||||||||||||||
Actual warranty costs | (16.4 | ) | (19.8 | ) | ||||||||||||||||
31-Dec | $ | 15.6 | $ | 16.4 | ||||||||||||||||
Schedule of Weighted Average Number of Shares | ' | |||||||||||||||||||
The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share and the anti-dilutive shares are as follows (in thousands): | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Basic weighted average shares outstanding | 28,586 | 28,290 | 28,031 | |||||||||||||||||
Effect of potentially dilutive stock options | ||||||||||||||||||||
and restricted stock awards | 320 | 352 | 437 | |||||||||||||||||
Diluted weighted average common shares | 28,906 | 28,642 | 28,468 | |||||||||||||||||
Anti-dilutive stock options and restricted stock awards | ||||||||||||||||||||
excluded from the computation of diluted EPS | 107 | 83 | 63 | |||||||||||||||||
3_Fair_Value_Measurements_Tabl
3. Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | |||||||||||||||||||
Discussion of Current Derivative Risk Management [Table Text Block] | ' | |||||||||||||||||||
The following is a summary of our forward foreign currency exchange contracts (in millions): | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Contracts maturing in January through March 2014 to sell foreign currency: | ||||||||||||||||||||
Notional value | $ | 83.8 | ||||||||||||||||||
Unrealized loss | $ | — | ||||||||||||||||||
Contracts maturing in January through March 2014 to purchase foreign currency: | ||||||||||||||||||||
Notional value | $ | 409.4 | ||||||||||||||||||
Unrealized loss | $ | 0.5 | ||||||||||||||||||
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 year ended December 31, 2013 (in millions): | ||||||||||||||||||||
2013 | ||||||||||||||||||||
1-Jan | $ | 52.6 | ||||||||||||||||||
Payment of development milestone - QuantaLife | (6.0 | ) | ||||||||||||||||||
Payment of development milestone - Cell sorting system | (20.0 | ) | ||||||||||||||||||
Decrease in fair value of contingent consideration included in Selling, general and administrative expense - QuantaLife | (2.0 | ) | ||||||||||||||||||
Net decrease in estimated fair value of contingent consideration included in Selling, general and administrative expense - Cell sorting system | (3.8 | ) | ||||||||||||||||||
31-Dec | $ | 20.8 | ||||||||||||||||||
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 liabilities as of December 31, 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 milestone: | ||||||||||||||||||
Credit adjusted discount rates | 0.97% | 1.93% | ||||||||||||||||||
Projected volatility of growth rates | 13.00% | 15.00% | ||||||||||||||||||
Market price of risk | 1.00% | N/A | ||||||||||||||||||
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 December 31, 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 | $ | — | $ | 7 | $ | — | $ | 7 | ||||||||||||
Foreign time deposits | 11.1 | — | — | 11.1 | ||||||||||||||||
U.S. government sponsored agencies | — | 1.2 | — | 1.2 | ||||||||||||||||
Money market funds | 1.2 | — | — | 1.2 | ||||||||||||||||
Total cash equivalents | 12.3 | 8.2 | — | 20.5 | ||||||||||||||||
Available-for-sale investments (b): | ||||||||||||||||||||
Corporate debt securities | — | 132.5 | — | 132.5 | ||||||||||||||||
Foreign brokered certificates of deposit | — | 8.9 | — | 8.9 | ||||||||||||||||
U.S. government sponsored agencies | — | 39.1 | — | 39.1 | ||||||||||||||||
Foreign government obligations | — | 5.6 | — | 5.6 | ||||||||||||||||
Municipal obligations | — | 11 | — | 11 | ||||||||||||||||
Marketable equity securities | 325.2 | — | — | 325.2 | ||||||||||||||||
Asset-backed securities | — | 48.6 | — | 48.6 | ||||||||||||||||
Total available-for-sale investments | 325.2 | 245.7 | — | 570.9 | ||||||||||||||||
Forward foreign exchange contracts (c) | — | 0.6 | — | 0.6 | ||||||||||||||||
Total financial assets carried at fair value | $ | 337.5 | $ | 254.5 | $ | — | $ | 592 | ||||||||||||
Financial Liabilities Carried at Fair Value: | ||||||||||||||||||||
Forward foreign exchange contracts (d) | $ | — | $ | 1.1 | $ | — | $ | 1.1 | ||||||||||||
Contingent consideration (e) | — | — | 20.8 | 20.8 | ||||||||||||||||
Total financial liabilities carried at fair value | $ | — | $ | 1.1 | $ | 20.8 | $ | 21.9 | ||||||||||||
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 Consolidated Balance Sheets. | |||||||||||||||||||
(b) | Available-for-sale investments are included in the following accounts in the Consolidated Balance Sheets (in millions): | |||||||||||||||||||
December 31, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Short-term investments | $ | 277.4 | $ | 457.7 | ||||||||||||||||
Other investments | 293.5 | 218 | ||||||||||||||||||
Total | $ | 570.9 | $ | 675.7 | ||||||||||||||||
(c) | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Consolidated Balance Sheets. | |||||||||||||||||||
(d) | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||
(e) | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions): | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Other current liabilities | $ | 6.1 | $ | 27.3 | ||||||||||||||||
Other long-term liabilities | 14.7 | 25.3 | ||||||||||||||||||
Total | $ | 20.8 | $ | 52.6 | ||||||||||||||||
Schedule of available-for-sale investments | ' | |||||||||||||||||||
Available-for-sale investments consist of the following (in millions): | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||
Cost | Gains | Losses | Fair | |||||||||||||||||
Value | ||||||||||||||||||||
Short-term investments: | ||||||||||||||||||||
Corporate debt securities | $ | 132.6 | $ | 0.3 | $ | (0.4 | ) | $ | 132.5 | |||||||||||
Foreign brokered certificates of deposit | 8.9 | — | — | 8.9 | ||||||||||||||||
Municipal obligations | 11.1 | — | (0.1 | ) | 11 | |||||||||||||||
Asset-backed securities | 48.4 | 0.1 | (0.2 | ) | 48.3 | |||||||||||||||
U.S. government sponsored agencies | 39.1 | 0.1 | (0.1 | ) | 39.1 | |||||||||||||||
Foreign government obligations | 5.6 | — | — | 5.6 | ||||||||||||||||
Marketable equity securities | 26.6 | 5.4 | — | 32 | ||||||||||||||||
272.3 | 5.9 | (0.8 | ) | 277.4 | ||||||||||||||||
Long-term investments: | ||||||||||||||||||||
Marketable equity securities | 54.5 | 238.7 | — | 293.2 | ||||||||||||||||
Asset-backed securities | 0.4 | — | (0.1 | ) | 0.3 | |||||||||||||||
54.9 | 238.7 | (0.1 | ) | 293.5 | ||||||||||||||||
Total | $ | 327.2 | $ | 244.6 | $ | (0.9 | ) | $ | 570.9 | |||||||||||
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 investments with gross unrealized losses and the associated fair value | ' | |||||||||||||||||||
The following is a summary of investments with gross unrealized losses and the associated fair value (in millions): | ||||||||||||||||||||
December 31, | December 31, 2012 | |||||||||||||||||||
2013 | ||||||||||||||||||||
Fair value of investments in a loss position 12 months or more | $ | 2.3 | $ | 0.3 | ||||||||||||||||
Fair value of investments in a loss position less than 12 months | $ | 73.9 | $ | 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 December 31, 2013 by contractual maturity date (in millions): | ||||||||||||||||||||
Amortized | Estimated Fair | |||||||||||||||||||
Cost | Value | |||||||||||||||||||
Mature in less than one year | $ | 97.5 | $ | 97.6 | ||||||||||||||||
Mature in one to five years | 109.1 | 109.2 | ||||||||||||||||||
Mature in more than five years | 39.5 | 38.9 | ||||||||||||||||||
Total | $ | 246.1 | $ | 245.7 | ||||||||||||||||
Estimated fair value of financial instruments | ' | |||||||||||||||||||
The estimated fair value of the financial instruments discussed above and the level of the fair value hierarchy within which the fair value measurement is categorized are as follows (in millions): | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Carrying | Estimated | Fair Value Hierarchy Level | Carrying | Estimated | Fair Value Hierarchy Level | |||||||||||||||
Amount | Fair | Amount | Fair | |||||||||||||||||
Value | Value | |||||||||||||||||||
Other investments | $ | 77.5 | $ | 382.9 | 2 | $ | 68.4 | $ | 272.5 | 2 | ||||||||||
Total long-term debt, excluding leases | $ | 423.2 | $ | 433 | 2 | $ | 720 | $ | 778.4 | 2 | ||||||||||
and current maturities |
4_Intangible_Assets_Goodwill_a1
4. Intangible Assets, Goodwill and Other (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Changes to goodwill by segment | ' | |||||||||||||||||||||||||
Changes to goodwill by segment were as follows (in millions): | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Life | Clinical | Total | Life | Clinical | Total | |||||||||||||||||||||
Science | Diagnostics | Science | Diagnostics | |||||||||||||||||||||||
Balances as of January 1: | ||||||||||||||||||||||||||
Goodwill | $ | 193.6 | $ | 330 | $ | 523.6 | $ | 176.8 | $ | 319.3 | $ | 496.1 | ||||||||||||||
Accumulated impairment losses and write-offs | (27.2 | ) | (1.0 | ) | (28.2 | ) | (27.2 | ) | — | (27.2 | ) | |||||||||||||||
Goodwill, net | 166.4 | 329 | 495.4 | 149.6 | 319.3 | 468.9 | ||||||||||||||||||||
Acquisitions | 14.9 | — | 14.9 | 17.4 | 4.1 | 21.5 | ||||||||||||||||||||
Purchase adjustment | — | — | — | (0.6 | ) | — | (0.6 | ) | ||||||||||||||||||
Goodwill written off related to excess property | — | — | — | — | (1.0 | ) | (1.0 | ) | ||||||||||||||||||
Currency fluctuations | 0.5 | 7 | 7.5 | — | 6.6 | 6.6 | ||||||||||||||||||||
Balances as of December 31: | ||||||||||||||||||||||||||
Goodwill | 209 | 337 | 546 | 193.6 | 330 | 523.6 | ||||||||||||||||||||
Accumulated impairment losses and write-offs | (27.2 | ) | (1.0 | ) | (28.2 | ) | (27.2 | ) | (1.0 | ) | (28.2 | ) | ||||||||||||||
Goodwill, net | $ | 181.8 | $ | 336 | $ | 517.8 | $ | 166.4 | $ | 329 | $ | 495.4 | ||||||||||||||
Schedule of Finite-Lived Intangible Assets by Major-Class | ' | |||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Average | Purchase | Accumulated | Net | |||||||||||||||||||||||
Remaining | Price | Amortization | Carrying | |||||||||||||||||||||||
Life (years) | Amount | |||||||||||||||||||||||||
Customer relationships/lists | 11-Jan | $ | 99.8 | $ | (41.1 | ) | $ | 58.7 | ||||||||||||||||||
Know how | 12-Feb | 194.6 | (89.3 | ) | 105.3 | |||||||||||||||||||||
Developed product technology | 13-Jan | 109.5 | (36.2 | ) | 73.3 | |||||||||||||||||||||
Licenses | 12-Jan | 44.9 | (22.4 | ) | 22.5 | |||||||||||||||||||||
Tradenames | 9-Jan | 4.3 | (2.1 | ) | 2.2 | |||||||||||||||||||||
Covenants not to compete | 9-May | 4.9 | (0.7 | ) | 4.2 | |||||||||||||||||||||
Other | — | 0.6 | (0.6 | ) | — | |||||||||||||||||||||
$ | 458.6 | $ | (192.4 | ) | $ | 266.2 | ||||||||||||||||||||
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 | ||||||||||||||||||||
5_Notes_Payable_and_LongTerm_D1
5. Notes Payable and Long-Term Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Principal components of long-term debt [Table Text Block] | ' | |||||||
The principal components of long-term debt are as follows (in millions): | ||||||||
December 31, | December 31, 2012 | |||||||
2013 | ||||||||
8.0% Senior Subordinated Notes due 2016 | $ | — | $ | 296.9 | ||||
4.875% Senior Notes due 2020, net of discount | 423.2 | 423 | ||||||
Capital leases and other debt | 12.6 | 12.7 | ||||||
435.8 | 732.6 | |||||||
Less current maturities | (0.2 | ) | (0.2 | ) | ||||
Long-term debt | $ | 435.6 | $ | 732.4 | ||||
6_Income_Taxes_Tables
6. Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
U.S. and international components of income before taxes [Table Text Block] | ' | ||||||||||||
The U.S. and international components of income before taxes are as follows (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 5.7 | $ | 110.6 | $ | 111.8 | |||||||
International | 106.7 | 119.3 | 134 | ||||||||||
Income before taxes | $ | 112.4 | $ | 229.9 | $ | 245.8 | |||||||
Provision for income taxes [Table Text Block] | ' | ||||||||||||
The provision for income taxes consists of the following (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax expense (benefit): | |||||||||||||
U.S. Federal | $ | (5.0 | ) | $ | 34.4 | $ | 29 | ||||||
State | 0.6 | 4.1 | 3.5 | ||||||||||
International | 38.3 | 37.3 | 42 | ||||||||||
Current tax expense | 33.9 | 75.8 | 74.5 | ||||||||||
Deferred tax (benefit) expense: | |||||||||||||
U.S. Federal | 4.8 | (3.1 | ) | 6.7 | |||||||||
State | (0.1 | ) | (0.9 | ) | 0.4 | ||||||||
International | (9.4 | ) | (6.3 | ) | (9.1 | ) | |||||||
Deferred tax benefit | (4.7 | ) | (10.3 | ) | (2.0 | ) | |||||||
Non-current tax expense (benefit) | 5.4 | (1.1 | ) | (5.5 | ) | ||||||||
Provision for income taxes | $ | 34.6 | $ | 64.4 | $ | 67 | |||||||
Reconcilation of effective tax rate on inocme before taxes and statutory rate [Table Text Block] | ' | ||||||||||||
The reconciliation between our effective tax rate on income before taxes and the statutory tax rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U. S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Impact of foreign operations | (6 | ) | (3 | ) | (4 | ) | |||||||
Research tax credits | (6 | ) | — | (1 | ) | ||||||||
Nontaxable subsidies | (2 | ) | (1 | ) | (1 | ) | |||||||
Tax settlements and changes to unrecognized tax benefits | 5 | — | (2 | ) | |||||||||
Contingent consideration | (1 | ) | (2 | ) | — | ||||||||
Other | 6 | (1 | ) | — | |||||||||
Provision for income taxes | 31 | % | 28 | % | 27 | % | |||||||
Significant components of deferred tax assets and liabilities [Table Text Block] | ' | ||||||||||||
Significant components of deferred tax assets and liabilities are as follows (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Bad debt, inventory and warranty accruals | $ | 27.5 | $ | 24.1 | |||||||||
Legal reserves | 12 | — | |||||||||||
Other post-employment benefits, vacation and other reserves | 22.2 | 26.5 | |||||||||||
Tax credit and net operating loss carryforwards | 62.3 | 62.1 | |||||||||||
Other | 19 | 18.3 | |||||||||||
Valuation allowance | (64.0 | ) | (52.9 | ) | |||||||||
79 | 78.1 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | 17.2 | 8.6 | |||||||||||
Investments and intangible assets | 147 | 119.3 | |||||||||||
164.2 | 127.9 | ||||||||||||
Net deferred tax liabilities | $ | (85.2 | ) | $ | (49.8 | ) | |||||||
Tabular reconcilation of total amounts of unrecognized tax benefits [Table Text Block] | ' | ||||||||||||
The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrecognized tax benefits – January 1 | $ | 12.6 | $ | 11.3 | $ | 16.6 | |||||||
Additions to tax positions related to prior years | 4.7 | 1.3 | 1.2 | ||||||||||
Reductions to tax positions related to prior years | (0.8 | ) | (0.8 | ) | (0.4 | ) | |||||||
Additions to tax positions related to the current year | 2 | 1.6 | 1.5 | ||||||||||
Settlements | (0.3 | ) | — | (2.2 | ) | ||||||||
Lapse of statute of limitations | (1.7 | ) | (3.0 | ) | (5.1 | ) | |||||||
Acquisitions | — | 2.2 | — | ||||||||||
Currency translation | (0.3 | ) | — | (0.3 | ) | ||||||||
Unrecognized tax benefits – December 31 | $ | 16.2 | $ | 12.6 | $ | 11.3 | |||||||
7_Stockholders_Equity_Stockhol
7. Stockholders' Equity Stockholders' Equity Shares Detail (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Class of Stock [Line Items] | ' | |||||
Schedule of Stock by Class [Table Text Block] | ' | |||||
Changes to Bio-Rad's common stock shares are as follows (in thousands): | ||||||
Class A Shares | Class B Shares | |||||
Balance at January 1, 2011 | 22,677 | 5,175 | ||||
B to A conversions | 39 | (39 | ) | |||
Issuance of common stock | 304 | 28 | ||||
Balance at December 31, 2011 | 23,020 | 5,165 | ||||
B to A conversions | 59 | (59 | ) | |||
Issuance of common stock | 253 | 44 | ||||
Balance at December 31, 2012 | 23,333 | 5,150 | ||||
B to A conversions | 80 | (80 | ) | |||
Issuance of common stock | 269 | 27 | ||||
Balance at December 31, 2013 | 23,681 | 5,097 | ||||
8_Accumulated_Other_Comprehens1
8. Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
Accumulated other comprehensive income included in our Consolidated Balance Sheets and Consolidated Statements of Changes in Stockholders' Equity consists of the following components, all net of income taxes (in millions): | |||||||||||||||||||
Foreign currency translation adjustments | Foreign 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 January 1, 2012 | $ | 149.2 | $ | 0.2 | $ | 49.3 | $ | 198.7 | $ | (0.2 | ) | $ | 198.5 | ||||||
Other comprehensive income (loss), net of tax before reclassifications | 23.6 | (8.5 | ) | 65.4 | 80.5 | — | 80.5 | ||||||||||||
Amounts reclassified from Accumulated other comprehensive income | 0.1 | 0.2 | (5.0 | ) | (4.7 | ) | — | (4.7 | ) | ||||||||||
Net current-period Other comprehensive income (loss), net of tax | 23.7 | (8.3 | ) | 60.4 | 75.8 | — | 75.8 | ||||||||||||
Balance at December 31, 2012 | $ | 172.9 | $ | (8.1 | ) | $ | 109.7 | $ | 274.5 | $ | (0.2 | ) | $ | 274.3 | |||||
Other comprehensive income (loss), net of tax before reclassifications | 16.7 | (0.5 | ) | 49.5 | 65.7 | — | 65.7 | ||||||||||||
Amounts reclassified from Accumulated other comprehensive income | (0.2 | ) | 0.5 | 0.2 | 0.5 | 0.2 | 0.7 | ||||||||||||
Net current-period Other comprehensive income, net of tax | 16.5 | — | 49.7 | 66.2 | 0.2 | 66.4 | |||||||||||||
Balance at December 31, 2013 | $ | 189.4 | $ | (8.1 | ) | $ | 159.4 | $ | 340.7 | $ | — | $ | 340.7 | ||||||
8_Accumulated_Other_Comprehens2
8. Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||
reclassified from Accumulated other comprehensive income for the period ended December 31, 2012 are summarized in the following table: | |||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item | |||||||
Amortization of foreign other post-employment benefit items | (0.3 | ) | Selling, general and administrative expense | ||||||
0.1 | Income tax expense | ||||||||
$ | (0.2 | ) | Net of income taxes | ||||||
Net holding gains on available-for-sale investments | 7.9 | Other (income) expense, net | |||||||
(2.9 | ) | Income tax expense | |||||||
5 | Net of income taxes | ||||||||
The effects on the Consolidated Statements of Income of amounts reclassified from Accumulated other comprehensive income for the period ended December 31, 2013 are summarized in the following table: | |||||||||
Details about Accumulated other comprehensive income components | Amount reclassified from Accumulated other comprehensive income | Affected line item | |||||||
Amortization of foreign other post-employment benefit items | (0.7 | ) | Selling, general and administrative expense | ||||||
0.2 | Income tax expense | ||||||||
$ | (0.5 | ) | Net of income taxes | ||||||
Net holding losses on available-for-sale investments | (0.3 | ) | Other (income) expense, net | ||||||
0.1 | Income tax expense | ||||||||
(0.2 | ) | Net of income taxes | |||||||
9_Sharebased_Compensation_Tabl
9. Share-based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||||||
Stock Options Activity | ' | |||||||||||||||||||||
Stock Options | ||||||||||||||||||||||
The following table summarizes stock option activity: | ||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | |||||||||||||||||||
Average | Average | Intrinsic | ||||||||||||||||||||
Exercise Price | Remaining | Value | ||||||||||||||||||||
Contractual | (in millions) | |||||||||||||||||||||
Term (in years) | ||||||||||||||||||||||
Outstanding, January 1, 2011 | 1,057,819 | $ | 57.12 | |||||||||||||||||||
Granted | 58,500 | $ | 99.49 | |||||||||||||||||||
Exercised | (220,372 | ) | $ | 42.44 | ||||||||||||||||||
Forfeited/expired | (7,197 | ) | $ | 62.98 | ||||||||||||||||||
Outstanding, December 31, 2011 | 888,750 | $ | 63.5 | |||||||||||||||||||
Granted | 55,250 | $ | 107.32 | |||||||||||||||||||
Exercised | (181,707 | ) | $ | 44.66 | ||||||||||||||||||
Forfeited/expired | (15,000 | ) | $ | 87.78 | ||||||||||||||||||
Outstanding, December 31, 2012 | 747,293 | $ | 70.83 | |||||||||||||||||||
Granted | 55,050 | $ | 117.67 | |||||||||||||||||||
Exercised | (159,450 | ) | $ | 54.16 | ||||||||||||||||||
Forfeited/expired | (13,250 | ) | $ | 91.32 | ||||||||||||||||||
Outstanding, December 31, 2013 | 629,643 | $ | 78.72 | 4.53 | $ | 28.3 | ||||||||||||||||
Vested and expected to vest, | ||||||||||||||||||||||
December 31, 2013 | 612,946 | $ | 77.91 | 4.41 | $ | 28 | ||||||||||||||||
Exercisable, December 31, 2013 | 472,193 | $ | 70.14 | 3.23 | $ | 25.2 | ||||||||||||||||
Stock Options Outstanding | ' | |||||||||||||||||||||
The following summarizes information about stock options outstanding at December 31, 2013: | ||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||
Range of | Number | Weighted-Average | Weighted -Average | Number | Weighted - | |||||||||||||||||
Exercise Prices | Outstanding | Remaining | Exercise | Exercisable | Average | |||||||||||||||||
Contractual Term | Price | Exercise Price | ||||||||||||||||||||
(in years) | ||||||||||||||||||||||
$ 53.75 - $ 62.47 | 191,930 | 1.41 | $ | 58.4 | 191,930 | $ | 58.4 | |||||||||||||||
$ 63.00 - $ 75.38 | 178,413 | 3.53 | $ | 69.87 | 168,313 | $ | 69.56 | |||||||||||||||
$ 84.57 - $107.32 | 204,250 | 6.93 | $ | 95.03 | 111,950 | $ | 91.11 | |||||||||||||||
$117.00 - $122.36 | 55,050 | 9.71 | $ | 117.67 | — | $ | — | |||||||||||||||
Totals | 629,643 | 472,193 | ||||||||||||||||||||
Stock Options Valuation Assumptions | ' | |||||||||||||||||||||
The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected volatility | 28 | % | 30 | % | 32 | % | ||||||||||||||||
Risk-free interest rate | 2.65 | % | 1.53 | % | 1.71 | % | ||||||||||||||||
Expected life (in years) | 8.9 | 9 | 8.6 | |||||||||||||||||||
Expected dividend | — | — | — | |||||||||||||||||||
Weighted-average fair value of options granted | $ | 47.25 | $ | 41.82 | $ | 40.81 | ||||||||||||||||
Resticted Stock Activity | ' | |||||||||||||||||||||
The following table summarizes restricted stock activity: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Restricted | Weighted- | Restricted | Weighted- | Restricted | Weighted- | |||||||||||||||||
Stock | Average | Stock | Average | Stock | Average | |||||||||||||||||
Shares | Grant-Date | Shares | Grant-Date | Shares | Grant-Date | |||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||
Nonvested shares, at | ||||||||||||||||||||||
beginning of year | 12,957 | $ | 88.09 | 39,629 | $ | 84.07 | 68,893 | $ | 83.21 | |||||||||||||
Vested | (12,610 | ) | $ | 88.09 | (25,124 | ) | $ | 81.98 | (26,179 | ) | $ | 81.98 | ||||||||||
Cancelled/forfeited | (347 | ) | $ | 88 | (1,548 | ) | $ | 84.2 | (3,085 | ) | $ | 82.63 | ||||||||||
Nonvested shares, at | ||||||||||||||||||||||
end of year | — | $ | — | 12,957 | $ | 88.09 | 39,629 | $ | 84.07 | |||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | ' | |||||||||||||||||||||
The following table summarizes restricted stock unit activity: | ||||||||||||||||||||||
Restricted | Weighted- | Weighted-Average | Aggregate | |||||||||||||||||||
Stock | Average | Remaining | Intrinsic Value | |||||||||||||||||||
Units | Grant-Date | Contractual Term | as of | |||||||||||||||||||
Fair Value | (in years) | 31-Dec-13 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||||
Outstanding, January 1, 2011 | 242,222 | $ | 80.61 | |||||||||||||||||||
Granted | 127,920 | $ | 98.25 | |||||||||||||||||||
Vested | (54,350 | ) | $ | 79.67 | ||||||||||||||||||
Forfeited | (16,430 | ) | $ | 80.7 | ||||||||||||||||||
Outstanding, December 31, 2011 | 299,362 | $ | 88.31 | |||||||||||||||||||
Granted | 138,840 | $ | 107.32 | |||||||||||||||||||
Vested | (75,466 | ) | $ | 85.52 | ||||||||||||||||||
Forfeited | (14,235 | ) | $ | 89.31 | ||||||||||||||||||
Outstanding, December 31, 2012 | 348,501 | $ | 96.45 | |||||||||||||||||||
Granted | 144,445 | $ | 117.09 | |||||||||||||||||||
Vested | (92,273 | ) | $ | 92.26 | ||||||||||||||||||
Forfeited | (25,243 | ) | $ | 96.08 | ||||||||||||||||||
Outstanding, December 31, 2013 | 375,430 | $ | 105.44 | 2.13 | $ | 46.4 | ||||||||||||||||
Employee Stock Purchase Plan, Valuation Assumptions | ' | |||||||||||||||||||||
The fair value of the employees’ purchase rights under the 2011 ESPP and the 1988 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Expected volatility | 19 | % | 27 | % | 20 | % | ||||||||||||||||
Risk-free interest rate | 0.05 | % | 0.07 | % | 0.06 | % | ||||||||||||||||
Expected life (in years) | 0.25 | 0.25 | 0.25 | |||||||||||||||||||
Expected dividend | — | — | — | |||||||||||||||||||
Weighted-average fair value | ||||||||||||||||||||||
of purchase rights | $ | 21.76 | $ | 20.7 | $ | 20.35 | ||||||||||||||||
10_Other_Income_and_Expenses_T
10. Other Income and Expenses (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expense [Abstract] | ' | ||||||||||||
Schedule of other income (expense), net | ' | ||||||||||||
Other (income) expense, net includes the following components (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Interest and investment income | $ | (13.4 | ) | $ | (11.4 | ) | $ | (8.2 | ) | ||||
Net realized losses (gains) on investments | 0.3 | (8.7 | ) | (0.7 | ) | ||||||||
Other-than-temporary impairment losses on investments | 0.3 | 1 | 2.1 | ||||||||||
Losses (gains) on disposal of property, plant and equipment | 0.5 | (3.8 | ) | 0.2 | |||||||||
Miscellaneous other (income) expense items, net | (0.5 | ) | 1 | (1.0 | ) | ||||||||
Other (income) expense, net | $ | (12.8 | ) | $ | (21.9 | ) | $ | (7.6 | ) |
11_Supplemental_Cash_Flow_Info1
11. Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||||||
11. SUPPLEMENTAL CASH FLOW INFORMATION | |||||||||||||
The reconciliation of net income including noncontrolling interests to net cash provided by operating activities is as follows (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income including noncontrolling interests | $ | 77.8 | $ | 165.5 | $ | 178.8 | |||||||
Adjustments to reconcile net income including | |||||||||||||
noncontrolling interests to net cash provided by | |||||||||||||
operating activities (net of effects of acquisitions): | |||||||||||||
Depreciation and amortization | 147.2 | 130.4 | 121 | ||||||||||
Share-based compensation | 13.7 | 13.2 | 10.7 | ||||||||||
Losses (gains) on dispositions of securities | 0.6 | (7.6 | ) | 1.5 | |||||||||
Losses (gains) on dispositions of fixed assets | 0.5 | (4.8 | ) | 0.2 | |||||||||
Excess tax benefits from share-based compensation | (2.7 | ) | (2.9 | ) | (3.2 | ) | |||||||
Changes in fair value of contingent consideration | (5.8 | ) | (16.1 | ) | — | ||||||||
(Increase) decrease in accounts receivable, net | (24.2 | ) | 4.4 | (20.1 | ) | ||||||||
Increase in inventories, net | (33.4 | ) | (4.3 | ) | (45.2 | ) | |||||||
Increase in other current assets | (4.2 | ) | (5.6 | ) | 11.1 | ||||||||
Increase (decrease) in accounts payable | |||||||||||||
and other current liabilities | 33.2 | 19 | (6.6 | ) | |||||||||
(Decrease) increase in income taxes payable | (38.0 | ) | (18.0 | ) | 5.4 | ||||||||
Decrease in deferred income taxes | (4.0 | ) | (10.3 | ) | (1.6 | ) | |||||||
Write-off of goodwill | — | 1 | — | ||||||||||
Net increase/decrease in other long-term liabilities/assets | 14.8 | 12.1 | 10.7 | ||||||||||
Net cash provided by operating activities | $ | 175.5 | $ | 276 | $ | 262.7 | |||||||
Non-cash investing activities: | |||||||||||||
Purchased intangible assets | $ | 12 | $ | 0.5 | $ | — | |||||||
Purchased marketable securities and investments | $ | 0.4 | $ | 1.6 | $ | 11.6 | |||||||
14_Segment_Reporting_Tables
14. Segment Reporting (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Information regarding industry segments | ' | ||||||||||||
Information regarding industry segments at December 31, 2013, 2012, and 2011 and for the years then ended is as follows (in millions): | |||||||||||||
Life | Clinical | Other | |||||||||||
Science | Diagnostics | Operations | |||||||||||
Segment net sales | 2013 | $ | 710 | $ | 1,408.00 | $ | 14.7 | ||||||
2012 | 688.4 | 1,365.50 | 15.3 | ||||||||||
2011 | 694.7 | 1,363.80 | 15 | ||||||||||
Allocated interest expense | 2013 | $ | 10.4 | $ | 30.1 | $ | 0.1 | ||||||
2012 | 13.4 | 37.8 | 0.2 | ||||||||||
2011 | 14.2 | 38.9 | 0.2 | ||||||||||
Depreciation and amortization | 2013 | $ | 32.6 | $ | 91.5 | $ | 0.1 | ||||||
2012 | 26.3 | 92.9 | 0.1 | ||||||||||
2011 | 17.3 | 93.2 | 0.2 | ||||||||||
Segment (loss) profit | 2013 | $ | (13.7 | ) | $ | 176.2 | $ | 1.1 | |||||
2012 | 13.2 | 202.6 | 1.6 | ||||||||||
2011 | 46.7 | 206.7 | 1.3 | ||||||||||
Segment assets | 2013 | $ | 389.1 | $ | 980.9 | $ | 5.1 | ||||||
2012 | 359.9 | 917 | 4.3 | ||||||||||
Capital expenditures | 2013 | $ | 19.8 | $ | 72.8 | $ | 0.2 | ||||||
2012 | 17.3 | 76.8 | 0.1 | ||||||||||
Reconciliation of segment profit to consolidated income before taxes | ' | ||||||||||||
The following reconciles total segment profit to consolidated income before taxes (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Total segment profit | $ | 163.6 | $ | 217.4 | $ | 254.7 | |||||||
Foreign exchange losses | (8.6 | ) | (5.0 | ) | (13.8 | ) | |||||||
Net corporate operating, interest and other expense, net not allocated to segments | (55.4 | ) | (4.4 | ) | (2.7 | ) | |||||||
Other income (expense), net | 12.8 | 21.9 | 7.6 | ||||||||||
Consolidated income before taxes | $ | 112.4 | $ | 229.9 | $ | 245.8 | |||||||
Reconciliation of Assets from Segment to Consolidated | ' | ||||||||||||
The following reconciles total segment assets to consolidated total assets (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Total segment assets | $ | 1,375.10 | $ | 1,281.20 | |||||||||
Cash and other current assets | 835.1 | 1,092.00 | |||||||||||
Property, plant and equipment, net, excluding | |||||||||||||
segment specific gross machinery and equipment | (14.9 | ) | (4.2 | ) | |||||||||
Goodwill, net | 517.8 | 495.4 | |||||||||||
Other long-term assets | 675.7 | 579.1 | |||||||||||
Total assets | $ | 3,388.80 | $ | 3,443.50 | |||||||||
Net sales and assets to external customers by geographic area | ' | ||||||||||||
The following presents net sales to external customers by geographic region based primarily on the location of the use of the product or service (in millions): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Europe | $ | 886.1 | $ | 837 | $ | 896.4 | |||||||
Pacific Rim | 413.3 | 425.7 | 398.4 | ||||||||||
United States | 677.7 | 656.7 | 631 | ||||||||||
Other (primarily Canada and Latin America) | 155.6 | 149.8 | 147.7 | ||||||||||
Total net sales | $ | 2,132.70 | $ | 2,069.20 | $ | 2,073.50 | |||||||
The following presents Other assets and Property, plant and equipment, net by geographic region based upon the location of the asset (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Europe | $ | 217.4 | $ | 199.1 | |||||||||
Pacific Rim | 28.2 | 30 | |||||||||||
United States | 579.9 | 487.8 | |||||||||||
Other (primarily Canada and Latin America) | 13.4 | 18.1 | |||||||||||
Total Other assets and Property, plant and equipment, net | $ | 838.9 | $ | 735 | |||||||||
15_Quarterly_Financial_Data_Ta
15. Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Data [Table Text Block] | ' | ||||||||||||||||
As reported: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 499.7 | $ | 525.3 | $ | 505.1 | $ | 602.6 | |||||||||
Gross profit | 271.4 | 300.1 | 284.2 | 322.7 | |||||||||||||
Net income (loss) attributable to Bio-Rad | 19.5 | 34.7 | (7.1 | ) | 30.1 | ||||||||||||
Basic earnings (loss) per share | $ | 0.68 | $ | 1.22 | $ | (0.25 | ) | $ | 1.05 | ||||||||
Diluted earnings (loss) per share | $ | 0.68 | $ | 1.2 | $ | (0.25 | ) | $ | 1.04 | ||||||||
2012 | |||||||||||||||||
Net sales | $ | 486.3 | $ | 510.4 | $ | 498.7 | $ | 573.8 | |||||||||
Gross profit | 278.6 | 287.9 | 273.5 | 314.1 | |||||||||||||
Net income attributable to Bio-Rad | 31 | 48.3 | 42.4 | 42 | |||||||||||||
Basic earnings per share | $ | 1.1 | $ | 1.71 | $ | 1.5 | $ | 1.48 | |||||||||
Diluted earnings per share | $ | 1.09 | $ | 1.69 | $ | 1.48 | $ | 1.46 | |||||||||
Adjustments: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | — | $ | — | $ | — | $ | — | |||||||||
Gross profit | — | — | — | — | |||||||||||||
Net income (loss) attributable to Bio-Rad | 0.7 | (0.1 | ) | — | — | ||||||||||||
Basic earnings (loss) per share | $ | 0.03 | $ | (0.01 | ) | $ | — | $ | — | ||||||||
Diluted earnings (loss) per share | $ | 0.02 | $ | — | $ | — | $ | — | |||||||||
2012 | |||||||||||||||||
Net sales | $ | — | $ | — | $ | — | $ | — | |||||||||
Gross profit | 0.1 | 0.2 | 0.3 | 0.4 | |||||||||||||
Net income attributable to Bio-Rad | 0.5 | (0.2 | ) | 0.2 | 1.2 | ||||||||||||
Basic earnings per share | $ | 0.02 | $ | (0.01 | ) | $ | 0.01 | $ | 0.04 | ||||||||
Diluted earnings per share | $ | 0.01 | $ | (0.01 | ) | $ | 0.01 | $ | 0.05 | ||||||||
As revised: | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 499.7 | $ | 525.3 | $ | 505.1 | $ | 602.6 | |||||||||
Gross profit | 271.4 | 300.1 | 284.2 | 322.7 | |||||||||||||
Net income (loss) attributable to Bio-Rad | 20.2 | 34.6 | (7.1 | ) | 30.1 | ||||||||||||
Basic earnings (loss) per share | $ | 0.71 | $ | 1.21 | $ | (0.25 | ) | $ | 1.05 | ||||||||
Diluted earnings (loss) per share | $ | 0.7 | $ | 1.2 | $ | (0.25 | ) | $ | 1.04 | ||||||||
2012 | |||||||||||||||||
Net sales | $ | 486.3 | $ | 510.4 | $ | 498.7 | $ | 573.8 | |||||||||
Gross profit | 278.7 | 288.1 | 273.8 | 314.5 | |||||||||||||
Net income attributable to Bio-Rad | 31.5 | 48.1 | 42.6 | 43.2 | |||||||||||||
Basic earnings per share | $ | 1.12 | $ | 1.7 | $ | 1.51 | $ | 1.52 | |||||||||
Diluted earnings per share | $ | 1.1 | $ | 1.68 | $ | 1.49 | $ | 1.51 | |||||||||
1_Significant_Accounting_Polic3
1. Significant Accounting Policies Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Minimum [Member] | Building and Building Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '15 years |
Minimum [Member] | Reagent Rental Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '1 year |
Minimum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Maximum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '12 years |
Maximum [Member] | Building and Building Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '30 years |
Maximum [Member] | Reagent Rental Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Maximum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '12 years |
1_Significant_Accounting_Polic4
1. Significant Accounting Policies Warranty rollforward (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' |
Warranty accrual, beginning of period | $16.40 | $16.40 |
Provision for warranty | 15.6 | 19.8 |
Actual warranty costs | -16.4 | -19.8 |
Warranty accrual, end of period | $15.60 | $16.40 |
1_Significant_Accounting_Polic5
1. Significant Accounting Policies Earnings per share (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Significant Accounting Policies [Abstract] | ' | ' | ' |
Basic weighted average shares outstanding | 28,586 | 28,290 | 28,031 |
Effect of potentially dilutive stock options and restricted stock awards | 320 | 352 | 437 |
Diluted weighted average common shares | 28,906 | 28,642 | 28,468 |
Anti-dilutive shares excluded from the computation of diluted EPS | 107 | 83 | 63 |
1_Significant_Accounting_Polic6
1. Significant Accounting Policies Noncontrolling Interests (Details) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2011 | Feb. 14, 2013 | Feb. 14, 2013 | Dec. 31, 2013 | |
USD ($) | 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 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | -1,007,000 | -3,588,000 | ' | ' | -600,000 |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | ' | ' | ' | ($300,000) |
1_Significant_Accounting_Polic7
1. Significant Accounting Policies Immaterial Error & Reclassifications (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Actual [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] | Cost of goods sold, immaterial error [Member] | Gross Profit, Immaterial Error [Member] | Gross Profit, Immaterial Error [Member] | Gross Profit, Immaterial Error [Member] | Gross Profit, Immaterial Error [Member] | Gross Profit, Immaterial Error [Member] | Gross Profit, 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] | 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] | Research and development expense, reclassification [Member] | Income From Operations [Member] | Income From Operations [Member] | Income From Operations [Member] | Income From Operations [Member] | Income From Operations [Member] | Income From Operations [Member] | Income Before Income Taxes [Member] | Income Before Income Taxes [Member] | Income Before Income Taxes [Member] | Income Before Income Taxes [Member] | Income Before Income Taxes [Member] | Income Before Income Taxes [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] | Provision for income taxes [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Including Noncontrolling Interests [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Attributable To Bio-Rad [Member] | Net Income Per Basic Share [Member] | Net Income Per Basic Share [Member] | Net Income Per Basic Share [Member] | Net Income Per Basic Share [Member] | Net Income Per Basic Share [Member] | Net Income Per Basic Share [Member] | Net Income Per Diluted Share [Member] | Net Income Per Diluted Share [Member] | Net Income Per Diluted Share [Member] | Net Income Per Diluted Share [Member] | Net Income Per Diluted Share [Member] | Net Income Per Diluted Share [Member] | |||||
Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | ||||||||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finished goods | $265,689,000 | $237,374,000 | ' | ' | $230,624,000 | $6,750,000 | $237,374,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | ' | ' | ' | ' | ' | ' | ' | 915,097,000 | 895,640,000 | -1,020,000 | -940,000 | 914,077,000 | 894,700,000 | 1,154,138,000 | 1,177,889,000 | 1,020,000 | 940,000 | 1,155,158,000 | 1,178,829,000 | 682,898,000 | 696,294,000 | -1,120,000 | -310,000 | 681,778,000 | 695,984,000 | 214,040,000 | 186,439,000 | -4,836,000 | -8,835,000 | 209,204,000 | 177,604,000 | 257,200,000 | 295,156,000 | 6,976,000 | 10,085,000 | 264,176,000 | 305,241,000 | 222,931,000 | 235,762,000 | 6,976,000 | 10,085,000 | 229,907,000 | 245,847,000 | 59,084,000 | 57,739,000 | 5,277,000 | 9,295,000 | 64,361,000 | 67,034,000 | 163,847,000 | 178,023,000 | 1,699,000 | 790,000 | 165,546,000 | 178,813,000 | 163,778,000 | 178,223,000 | 1,699,000 | 790,000 | 165,477,000 | 179,013,000 | 5.79 | 6.36 | 0.06 | 0.03 | 5.85 | 6.39 | 5.72 | 6.26 | 0.06 | 0.03 | 5.78 | 6.29 |
Inventory, Net | 501,291,000 | 455,120,000 | ' | ' | 448,370,000 | 6,750,000 | 455,120,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets, Current | 1,747,856,000 | 1,936,682,000 | ' | ' | 1,929,932,000 | 6,750,000 | 1,936,682,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 3,388,790,000 | 3,443,503,000 | ' | ' | 3,436,753,000 | 6,750,000 | 3,443,503,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income and other taxes payable | 33,555,000 | 34,779,000 | ' | ' | 32,299,000 | 2,480,000 | 34,779,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities, Current | 487,472,000 | 472,400,000 | ' | ' | 469,920,000 | 2,480,000 | 472,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities | 1,202,068,000 | 1,427,963,000 | ' | ' | 1,425,483,000 | 2,480,000 | 1,427,963,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,186,722,000 | 2,015,540,000 | 1,747,322,000 | 1,540,519,000 | 2,011,270,000 | 4,270,000 | 2,015,540,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities and Equity | $3,388,790,000 | $3,443,503,000 | ' | ' | $3,436,753,000 | $6,750,000 | $3,443,503,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
1_Significant_Accounting_Polic8
1. Significant Accounting Policies Immaterial Errors Inventory Costing (Details) (Net Income For Inventory Costing [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
2011 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $800,000 |
2012 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $1,700,000 |
1_Significant_Accounting_Polic9
1. Significant Accounting Policies Reclassification R&D Credits (Details) (Research and Development Expense [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
2011 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $8,800,000 |
2012 [Member] | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $4,800,000 |
Recovered_Sheet1
1. Significant Accounting Policies Immaterial Errors Related to Presentation (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | $65,448,000 | $12,663,000 |
Income Tax On Net Unrealized Holding Gain (Loss) [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | 38,108,000 | 7,373,000 |
Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -5,045,000 | 104,000 |
Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -2,937,000 | 61,000 |
Income Tax on Reclassification Adjustments For Net Holding (Gain) Loss [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -5,874,000 | 121,000 |
Reclassification Adjustments For Net Holding (Gain) Loss Net Of Income Tax [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -10,090,000 | 208,000 |
Income Tax On Net Unrealized Holding Gain (Loss) [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | -5,874,000 | 121,000 |
Net Unrealized Holding Gain (Loss) Net Of Income Tax [Member] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' |
Quantifying Misstatement in Current Year Financial Statements, Amount | ($10,090,000) | $208,000 |
2_Acquisitions_Details
2. Acquisitions (Details) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended | |||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 10, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Aug. 31, 2012 | Jul. 30, 2012 | Jul. 30, 2012 | Jan. 18, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | |||
USD ($) | USD ($) | USD ($) | AbD Serotec [Member] | AbD Serotec [Member] | AbD Serotec [Member] | CellSorter [Member] | Benelux [Member] | Benelux [Member] | Portland [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] | Development [Member] | Sales [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | 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] | CellSorter [Member] | CellSorter [Member] | ||||||
USD ($) | USD ($) | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | USD ($) | USD ($) | |||||||||||||
USD ($) | USD ($) | USD ($) | |||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | 100.00% | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Consideration Transferred | ' | ' | ' | $62,200,000 | ' | ' | $49,600,000 | $5,600,000 | € 4,600,000 | $12,500,000 | ' | ' | ' | ' | ' | ' | ' | ||
Cash Acquired from Acquisition | ' | ' | ' | ' | ' | 7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill, Purchase Accounting Adjustments | 0 | -600,000 | ' | ' | -2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
bio_NetAssetPurchaseAccountingAdjustment | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,600,000 | 19,900,000 | 24,700,000 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,800,000 | [1] | 52,600,000 | [1] | 20,800,000 | 44,600,000 | ' | ' | ' |
Goodwill | 517,770,000 | 495,418,000 | 468,900,000 | 14,900,000 | ' | ' | 17,400,000 | 3,000,000 | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ||
Employment agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | 3,300,000 | ' | ' | 100,000 | -2,300,000 | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ||
Finite-lived Intangible Assets Acquired | ' | ' | ' | $44,000,000 | ' | ' | $32,100,000 | $4,900,000 | ' | $5,100,000 | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Other current liabilities$6.1B $27.3Other long-term liabilities14.7B 25.3 Total$20.8B $52.6 |
3_Fair_Value_Measurements_Deta
3. Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | $570.90 | $675.70 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 12.3 | [1] | 15.6 | [1] |
Available-for-sale investments | 325.2 | [2] | 242.1 | [2] |
Forward foreign exchange contracts, Asset | 0 | [3] | 0 | [3] |
Financial Assets Carried at Fair Value | 337.5 | 257.7 | ||
Forward foreign exchange contracts, Liability | 0 | [4] | 0 | [4] |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 0 | [5] | 0 | [5] |
Liabilities, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | Municipal Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 325.2 | [2] | 242.1 | [2] |
Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Foreign Time Deposits [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 11.1 | [1] | 10.1 | [1] |
Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 1.2 | [1] | 5.5 | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 8.2 | [1] | 54.1 | [1] |
Available-for-sale investments | 245.7 | [2] | 433.6 | [2] |
Forward foreign exchange contracts, Asset | 0.6 | [3] | 1.1 | [3] |
Financial Assets Carried at Fair Value | 254.5 | 488.8 | ||
Forward foreign exchange contracts, Liability | 1.1 | [4] | 0.8 | [4] |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 0 | [5] | 0 | [5] |
Liabilities, Fair Value Disclosure | 1.1 | 0.8 | ||
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 132.5 | [2] | 240.6 | [2] |
Fair Value, Inputs, Level 2 [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 8.9 | [2] | 0.4 | [2] |
Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 39.1 | [2] | 92.7 | [2] |
Fair Value, Inputs, Level 2 [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 5.6 | [2] | 5.6 | [2] |
Fair Value, Inputs, Level 2 [Member] | Municipal Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 11 | [2] | 12.1 | [2] |
Fair Value, Inputs, Level 2 [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 48.6 | [2] | 82.2 | [2] |
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 7 | [1] | 52.8 | [1] |
Fair Value, Inputs, Level 2 [Member] | Foreign Time Deposits [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 1.2 | [1] | 1.3 | [1] |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Available-for-sale investments | 0 | [2] | 0 | [2] |
Forward foreign exchange contracts, Asset | 0 | [3] | 0 | [3] |
Financial Assets Carried at Fair Value | 0 | 0 | ||
Forward foreign exchange contracts, Liability | 0 | [4] | 0 | [4] |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 20.8 | [5] | 52.6 | [5] |
Liabilities, Fair Value Disclosure | 20.8 | 52.6 | ||
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Municipal Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 3 [Member] | Foreign Time Deposits [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 20.5 | [1] | 69.7 | [1] |
Available-for-sale investments | 570.9 | [2] | 675.7 | [2] |
Forward foreign exchange contracts, Asset | 0.6 | [3] | 1.1 | [3] |
Financial Assets Carried at Fair Value | 592 | 746.5 | ||
Forward foreign exchange contracts, Liability | 1.1 | [4] | 0.8 | [4] |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 20.8 | [5] | 52.6 | [5] |
Liabilities, Fair Value Disclosure | 21.9 | 53.4 | ||
Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 132.5 | [2] | 240.6 | [2] |
Estimate of Fair Value Measurement [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 8.9 | [2] | 0.4 | [2] |
Estimate of Fair Value Measurement [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 39.1 | [2] | 92.7 | [2] |
Estimate of Fair Value Measurement [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 5.6 | [2] | 5.6 | [2] |
Estimate of Fair Value Measurement [Member] | Municipal Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 11 | [2] | 12.1 | [2] |
Estimate of Fair Value Measurement [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 325.2 | [2] | 242.1 | [2] |
Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 48.6 | [2] | 82.2 | [2] |
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 7 | [1] | 52.8 | [1] |
Estimate of Fair Value Measurement [Member] | Foreign Time Deposits [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 11.1 | [1] | 10.1 | [1] |
Estimate of Fair Value Measurement [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 1.2 | [1] | 1.3 | [1] |
Estimate of Fair Value Measurement [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents | 1.2 | [1] | 5.5 | [1] |
Other Current Liabilities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 6.1 | 27.3 | ||
Short-term Investments [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 132.5 | 240.6 | ||
Short-term Investments [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 8.9 | 0.4 | ||
Short-term Investments [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 39.1 | 92.7 | ||
Short-term Investments [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 5.6 | 5.4 | ||
Short-term Investments [Member] | Municipal Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 11 | 12.1 | ||
Short-term Investments [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 32 | 24.6 | ||
Short-term Investments [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 48.3 | 81.9 | ||
Short-term Investments [Member] | Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 277.4 | 457.7 | ||
Other Investments [Member] | Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale investments | 293.5 | 218 | ||
Other Noncurrent Liabilities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $14.70 | $25.30 | ||
[1] | Cash equivalents are included in Cash and cash equivalents in the Consolidated Balance Sheets. | |||
[2] | Available-for-sale investments are included in the following accounts in the Consolidated Balance Sheets (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Short-term investments$277.4B $457.7Other investments293.5B 218.0Total$570.9B $675.7 | |||
[3] | Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Consolidated Balance Sheets. | |||
[4] | Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Consolidated Balance Sheets. | |||
[5] | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Other current liabilities$6.1B $27.3Other long-term liabilities14.7B 25.3 Total$20.8B $52.6 |
3_Fair_Value_Measurements_Fore
3. Fair Value Measurements Foreign Exchange Forward Contracts (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Derivatives, Fair Value [Line Items] | ' |
Unrealized loss | $0 |
Unrealized loss | 0.5 |
Notional amount of foreign currency derivative sale contracts [Member] | ' |
Derivatives, Fair Value [Line Items] | ' |
Derivative, Notional Amount | 83.8 |
Notional amount of foreign currency derivative purchase contracts [Member] | ' |
Derivatives, Fair Value [Line Items] | ' |
Derivative, Notional Amount | $409.40 |
3_Fair_Value_Measurements_Shor
3. Fair Value Measurements Short-term Investments (Details) (Fair Value, Measurements, Recurring [Member], USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | $327.20 | $510.40 | ||
Unrealized Gains | 244.6 | 165.9 | ||
Unrealized Losses | -0.9 | -0.6 | ||
Estimated Fair Value | 570.9 | 675.7 | ||
Short-term Investments [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 132.6 | 239.3 | ||
Unrealized Gains | 0.3 | 1.4 | ||
Unrealized Losses | -0.4 | -0.1 | ||
Estimated Fair Value | 132.5 | 240.6 | ||
Short-term Investments [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 8.9 | 0.4 | ||
Unrealized Gains | 0 | 0 | ||
Unrealized Losses | 0 | 0 | ||
Estimated Fair Value | 8.9 | 0.4 | ||
Short-term Investments [Member] | Municipal Obligations [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 11.1 | 12 | ||
Unrealized Gains | 0 | 0.1 | ||
Unrealized Losses | -0.1 | 0 | ||
Estimated Fair Value | 11 | 12.1 | ||
Short-term Investments [Member] | Asset-backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 48.4 | 81.6 | ||
Unrealized Gains | 0.1 | 0.4 | ||
Unrealized Losses | -0.2 | -0.1 | ||
Estimated Fair Value | 48.3 | 81.9 | ||
Short-term Investments [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 26.6 | 24.1 | ||
Unrealized Gains | 5.4 | 0.7 | ||
Unrealized Losses | 0 | -0.2 | ||
Estimated Fair Value | 32 | 24.6 | ||
Short-term Investments [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 272.3 | 455.3 | ||
Unrealized Gains | 5.9 | 2.9 | ||
Unrealized Losses | -0.8 | -0.5 | ||
Estimated Fair Value | 277.4 | 457.7 | ||
Short-term Investments [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 39.1 | 92.5 | ||
Unrealized Gains | 0.1 | 0.3 | ||
Unrealized Losses | -0.1 | -0.1 | ||
Estimated Fair Value | 39.1 | 92.7 | ||
Short-term Investments [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 5.6 | 5.4 | ||
Unrealized Gains | 0 | 0 | ||
Unrealized Losses | 0 | 0 | ||
Estimated Fair Value | 5.6 | 5.4 | ||
Other Long-term Investments [Member] | Asset-backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 0.4 | 0.4 | ||
Unrealized Gains | 0 | 0 | ||
Unrealized Losses | -0.1 | -0.1 | ||
Estimated Fair Value | 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 | ||
Unrealized Gains | 238.7 | 163 | ||
Unrealized Losses | 0 | 0 | ||
Estimated Fair Value | 293.2 | 217.5 | ||
Other Long-term Investments [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 54.9 | 55.1 | ||
Unrealized Gains | 238.7 | 163 | ||
Unrealized Losses | -0.1 | -0.1 | ||
Estimated Fair Value | 293.5 | 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 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 325.2 | [1] | 242.1 | [1] |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Foreign Brokered Certificates of Deposit [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Municipal Obligations [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Marketable Equity Securities [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 325.2 | [1] | 242.1 | [1] |
Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Foreign Government Obligations [Member] | ' | ' | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ||
Estimated Fair Value | $0 | [1] | $0 | [1] |
[1] | Available-for-sale investments are included in the following accounts in the Consolidated Balance Sheets (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Short-term investments$277.4B $457.7Other investments293.5B 218.0Total$570.9B $675.7 |
3_Fair_Value_Measurements_Amor
3. Fair Value Measurements Amortized Cost and Fair Value of Debt Securities (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' |
Mature in less than one year | $97.50 |
Mature in one to five years | 109.1 |
Mature in more than five years | 39.5 |
Total Amortized Cost | 246.1 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' |
Mature in less than one year | 97.6 |
Mature in one to five years | 109.2 |
Mature in more than five years | 38.9 |
Estimated Fair Value | $245.70 |
3_Fair_Value_Measurements_Fair
3. Fair Value Measurements Fair Value and Gross Unrealized Losses with Unrealized Losses (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Tolerable variance Level 2 debt security pricing | 1.00% | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $2.30 | $0.30 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 73.9 | 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 | $0.80 | $0.50 |
Cost Method Investment, Percentage Owned | 35.00% | ' |
3_Fair_Value_Investments_Detai
3. Fair Value Investments (Details) (USD $) | Dec. 31, 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 | $77.50 | $68.40 |
Total long-term debt, excluding capital leases and current maturities | 423.2 | 720 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Other Investments | 382.9 | 272.5 |
Total long-term debt, excluding capital leases and current maturities | $433 | $778.40 |
3_Fair_Value_Measurements_Cont
3. Fair Value Measurements Contingent Consideration (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Dec. 31, 2013 | Oct. 04, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | QuantaLife [Member] | QuantaLife [Member] | QuantaLife [Member] | QuantaLife [Member] | QuantaLife [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | Development [Member] | Sales [Member] | Credit Adjusted Discount Rates Lower [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] | Sales Milestone year 1 purchase orders [Member] | Sales milestone year 2 purchase orders [Member] | Sales milestone year 3 purchase orders [Member] | Credit Adjusted Discount Rate Higher [Member] | Projected Volatility of Growth Rates Lower [Member] | Projected Volatility of Growth Rates Higher [Member] | Market Price of Risk [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] | 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] | ||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | ' | $24,100,000 | ' | ' | ' | ' | ' | $44,600,000 | $19,900,000 | $24,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | ' | ' | ' | 20,800,000 | [1] | 52,600,000 | [1] | ' | ' | ' | ' | ' | ' | 20,800,000 | 44,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 30,000,000 | 45,000,000 | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Significant Inputs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '.0097 | ' | ' | ' | ' | ' | ' | ' | '.0193 | '0.13 | '.150 | '.01 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 16,100,000 | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | -5,800,000 | -16,100,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Contingent Consideration, Potential Percentage Payout | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 51.32% | 50.38% | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Other current liabilities$6.1B $27.3Other long-term liabilities14.7B 25.3 Total$20.8B $52.6 |
4_Goodwill_and_other_Purchased
4. Goodwill and other Purchased Intangible Assets Intangible Assets, Goodwill and Other (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Life Science [Member] | Life Science [Member] | Life Science [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | |||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on sale of property, plant and equipment - Diagnostics | ' | ' | ' | ' | ' | ' | ' | ' | $4,300,000 | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill period start | ' | 523,600,000 | 496,100,000 | ' | ' | 193,600,000 | 176,800,000 | ' | ' | 330,000,000 | 319,300,000 |
Accumulated impairment loss period start | ' | -28,200,000 | -27,200,000 | ' | ' | -27,200,000 | -27,200,000 | ' | ' | -1,000,000 | 0 |
Goodwill, net period start | ' | 495,418,000 | 468,900,000 | ' | ' | 166,400,000 | 149,600,000 | ' | ' | 329,000,000 | 319,300,000 |
Goodwill, Acquired During Period | ' | 14,900,000 | 21,500,000 | ' | ' | 14,900,000 | 17,400,000 | ' | ' | 0 | 4,100,000 |
Goodwill, Purchase Accounting Adjustments | ' | 0 | -600,000 | ' | ' | 0 | -600,000 | ' | ' | 0 | 0 |
Goodwill, Written off Related to Sale of Business Unit | 0 | 0 | -1,000,000 | 0 | 0 | ' | 0 | 0 | -1,000,000 | ' | -1,000,000 |
Currency fluctuations | ' | 7,500,000 | 6,600,000 | ' | ' | 500,000 | 0 | ' | ' | 7,000,000 | 6,600,000 |
Goodwill period end | 546,000,000 | 546,000,000 | 523,600,000 | 496,100,000 | 209,000,000 | 209,000,000 | 193,600,000 | 337,000,000 | 330,000,000 | 337,000,000 | 330,000,000 |
Accumulated impairment loss period end | -28,200,000 | -28,200,000 | -28,200,000 | -27,200,000 | -27,200,000 | -27,200,000 | -27,200,000 | -1,000,000 | -1,000,000 | -1,000,000 | -1,000,000 |
Goodwill, net period end | $517,770,000 | $517,770,000 | $495,418,000 | $468,900,000 | $181,800,000 | $181,800,000 | $166,400,000 | $336,000,000 | $329,000,000 | $336,000,000 | $329,000,000 |
4_Goodwill_and_other_Purchased1
4. Goodwill and other Purchased Intangible Assets Intangible Assets, Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 10, 2013 | Jan. 10, 2013 | Jan. 10, 2013 | Jan. 10, 2013 | Jan. 10, 2013 | Jan. 10, 2013 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Jul. 30, 2012 | Jul. 30, 2012 | Jul. 30, 2012 | Jan. 18, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 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] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | Benelux [Member] | Benelux [Member] | Benelux [Member] | Portland [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [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] | Developed Technology Rights [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | Customer Relationships [Member] | Trade Names [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, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, net | $517,770,000 | $517,770,000 | $495,418,000 | $468,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,900,000 | ' | ' | ' | ' | ' | $17,400,000 | ' | ' | ' | $3,000,000 | ' | ' | $1,100,000 | $336,000,000 | $329,000,000 | $329,000,000 | $319,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration for sale of building | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Written off Related to Sale of Business Unit | 0 | 0 | 1,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Remaining Amortization Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '1 year | '2 years | '1 year | '1 year | '1 year | '1 year | '1 year | '1 year | '1 year | '5 years | '1 year | '0 years | '1 year | '11 years | '12 years | '12 years | '13 years | '13 years | '10 years | '12 years | '8 years | '9 years | '10 years | '9 years | '10 years | '0 years | '1 year |
Finite-Lived Intangible Assets, Gross | 458,600,000 | 458,600,000 | 414,700,000 | ' | 99,800,000 | 102,800,000 | 194,600,000 | 189,300,000 | 109,500,000 | 74,600,000 | 44,900,000 | 35,600,000 | 4,300,000 | 7,400,000 | 4,900,000 | 4,900,000 | 600,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Year One | 42,000,000 | 42,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Amortization | -192,400,000 | -192,400,000 | -153,800,000 | ' | -41,100,000 | -38,400,000 | -89,300,000 | -67,100,000 | -36,200,000 | -25,100,000 | -22,400,000 | -18,700,000 | -2,100,000 | -4,300,000 | -700,000 | -200,000 | -600,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Carrying Amount | 266,188,000 | 266,188,000 | 260,939,000 | ' | 58,700,000 | 64,400,000 | 105,300,000 | 122,200,000 | 73,300,000 | 49,500,000 | 22,500,000 | 16,900,000 | 2,200,000 | 3,100,000 | 4,200,000 | 4,700,000 | 0 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense | ' | 45,000,000 | 42,800,000 | 39,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Year Two | 39,000,000 | 39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Year Three | 35,600,000 | 35,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Year Four | 27,000,000 | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Year Five | 24,100,000 | 24,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived Intangible Assets Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,000,000 | 1,300,000 | 33,000,000 | 8,800,000 | 400,000 | 500,000 | 32,100,000 | 27,300,000 | 4,700,000 | 100,000 | 4,900,000 | 3,800,000 | 1,100,000 | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 years 8 months | '12 years | '13 years 11 months | '13 years | '2 years | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $98,500,000 | $98,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
5_Notes_Payable_and_LongTerm_D2
5. Notes Payable and Long-Term Debt (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||
Sep. 30, 2013 | Jan. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-09 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-09 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2010 | Dec. 31, 2013 | |
Foreign Line of Credit [Member] | Foreign Line of Credit [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Unsecured 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 7.5% [Member] | Senior Subordinated Notes 8.0% [Member] | Senior Subordinated Notes 8.0% [Member] | Senior Subordinated Notes 8.0% [Member] | Senior Subordinated Notes 6.125% [Member] | Senior Notes 4.875% [Member] | Senior Notes 4.875% [Member] | Senior Notes 4.875% [Member] | Capital leases and other debt [Member] | Capital leases and other debt [Member] | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | $435,800,000 | $732,600,000 | ' | ' | ' | ' | $0 | $296,900,000 | $294,800,000 | ' | $423,200,000 | $423,000,000 | $422,600,000 | $12,600,000 | $12,700,000 | ' | ' |
Less current maturities | ' | ' | ' | -200,000 | -200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, net of current maturities | ' | ' | ' | 435,615,000 | 732,414,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.95% | ' | ' | ' | ' |
Face amount of debt sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | 425,000,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 8.00% | ' | ' | 7.50% | ' | ' | ' | 6.13% | ' | ' | 4.88% | ' | ' | ' | ' |
Repayments of subordinated debt | ' | ' | ' | ' | ' | ' | ' | ' | 225,000,000 | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' |
Early repayment of Subordinated Notes | 312,000,000 | ' | ' | ' | ' | ' | ' | ' | 234,600,000 | ' | ' | ' | 204,300,000 | ' | ' | ' | ' | ' | ' | ' |
Redemption Premium | 12,000,000 | 2,800,000 | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized Debt Issuance Expense | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | -15,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of capital stock of certain foreign subsidiaries securing part of Credit Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal after Year Five | ' | ' | ' | 434,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | 20,100,000 | 27,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | $15,800,000 | $23,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | 3.00% | 3.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% |
6_Income_Taxes_Details
6. Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Line Items] | ' | ' | ' |
U.S. | $5,700,000 | $110,600,000 | $111,800,000 |
International | 106,700,000 | 119,300,000 | 134,000,000 |
Income before income taxes | 112,385,000 | 229,907,000 | 245,847,000 |
U.S. Federal | -5,000,000 | 34,400,000 | 29,000,000 |
State | 600,000 | 4,100,000 | 3,500,000 |
International | 38,300,000 | 37,300,000 | 42,000,000 |
Current Income Tax Expense (Benefit) | 33,900,000 | 75,800,000 | 74,500,000 |
U.S. Federal | 4,800,000 | -3,100,000 | 6,700,000 |
State | -100,000 | -900,000 | 400,000 |
International | -9,400,000 | -6,300,000 | -9,100,000 |
Deferred tax benefit | -4,700,000 | -10,300,000 | -2,000,000 |
Non-current tax expense (benefit) | 5,400,000 | -1,100,000 | -5,500,000 |
Provision for income taxes | 34,574,000 | 64,361,000 | 67,034,000 |
U.S. statutory tax rate | 35.00% | 35.00% | 35.00% |
Impact of foreign operations | -6.00% | -3.00% | -4.00% |
Research tax credits | -6.00% | 0.00% | -1.00% |
Nontaxable subsidies | -2.00% | -1.00% | -1.00% |
Tax settlements and changes to unrecognized tax benefits | 5.00% | 0.00% | -2.00% |
Contingent consideration | -1.00% | -2.00% | 0.00% |
Other | 6.00% | -1.00% | 0.00% |
Provision for income taxes | 31.00% | 28.00% | 27.00% |
Bad debt, inventory and warranty accruals | 27,500,000 | 24,100,000 | ' |
Legal reserves | 12,000,000 | 0 | ' |
Other post-employment benefits, vacation and other reserves | 22,200,000 | 26,500,000 | ' |
Tax credit and net operating loss carryforwards | 62,300,000 | 62,100,000 | ' |
Other | 19,000,000 | 18,300,000 | ' |
Valuation allowance | -64,000,000 | -52,900,000 | ' |
Deferred Tax Assets, Net | 79,000,000 | 78,100,000 | ' |
Property and equipment | 17,200,000 | 8,600,000 | ' |
Investments and intangible assets | 147,000,000 | 119,300,000 | ' |
Deferred Tax Liabilities | 164,200,000 | 127,900,000 | ' |
Net deferred tax liabilities | -85,200,000 | -49,800,000 | ' |
Unrecognized tax benefits period start | 12,600,000 | 11,300,000 | 16,600,000 |
Additions to tax positions related to prior years | 4,700,000 | 1,300,000 | 1,200,000 |
Reductions to tax positions related to prior years | -800,000 | -800,000 | -400,000 |
Additions to tax positions related to the current year | 2,000,000 | 1,600,000 | 1,500,000 |
Settlements | -300,000 | 0 | -2,200,000 |
Lapse of statute of limitations | -1,700,000 | -3,000,000 | -5,100,000 |
Acquisitions | 0 | 2,200,000 | 0 |
Currency translation | 300,000 | 0 | 300,000 |
Unrecognized tax benefits period end | 16,200,000 | 12,600,000 | 11,300,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 3,400,000 | 1,900,000 | 2,000,000 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 1,500,000 | ' | ' |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 537,000,000 | ' | ' |
Deferred Tax Liability Not Recognized, Cumulative Amount of Temporary Difference | 108,000,000 | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforward, Valuation Allowance | 28,000,000 | ' | ' |
Operating Loss Carryforward With No Expiration Date | 114,600,000 | ' | ' |
Operating Loss Carryforwards | 116,600,000 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 17,000,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 53,000,000 | ' | ' |
Research Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | 1,500,000 | ' | ' |
Research Tax Credit Carryforward [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 21,400,000 | ' | ' |
QuantaLife [Member] | Research Tax Credit Carryforward [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Research | $2,000,000 | ' | ' |
7_Stockholders_Equity_Details
7. Stockholders' Equity (Details) | 12 Months Ended | 12 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2012 | Jun. 30, 2012 | |
Common Class A [Member] | Common Class A [Member] | Common Class A [Member] | Common Class A [Member] | Common Class B [Member] | Common Class B [Member] | Common Class B [Member] | Common Class B [Member] | Treasury Class-A [Member] | Treasury Class B [Member] | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, Issued | 23,681,000 | 23,333,000 | 23,020,000 | 22,677,000 | 5,097,000 | 5,150,000 | 5,165,000 | 5,175,000 | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 80,000 | 59,000 | 39,000 | ' | -80,000 | -59,000 | -39,000 | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | 269,000 | 253,000 | 304,000 | ' | 27,000 | 44,000 | 28,000 | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | ' | ' | ' | ' | ' | ' | 122 | 917 |
Voting Rights, Number of Vote Entitled Per Share | 0.1 | ' | ' | ' | 1 | ' | ' | ' | ' | ' |
Election Percentage for Board of Directors | 25.00% | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' |
7_Stockholders_Equity_Treasury
7. Stockholders' Equity Treasury Shares (Details) (USD $) | 12 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Treasury Class-A [Member] | Treasury Class-A [Member] | Treasury Class B [Member] | Treasury Class B [Member] | ||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' |
Treasury Stock, Shares | ' | 122 | 122 | 917 | 917 |
Stock Repurchase Program, Authorized Amount | $18 | ' | ' | ' | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $3.30 | ' | ' | ' | ' |
8_Accumulated_Other_Comprehens3
8. Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | $340,717,000 | $274,532,000 | $198,500,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 65,700,000 | 80,500,000 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 700,000 | -4,700,000 | ' |
Other comprehensive income, net of tax | 66,349,000 | 75,863,000 | 859,000 |
Foreign currency translation adjustments | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | 189,400,000 | 172,900,000 | 149,200,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 16,700,000 | 23,600,000 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -200,000 | 100,000 | ' |
Other comprehensive income, net of tax | 16,500,000 | 23,700,000 | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | -8,100,000 | -8,100,000 | 200,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -500,000 | -8,500,000 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 500,000 | 200,000 | ' |
Other comprehensive income, net of tax | 0 | -8,300,000 | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | 159,400,000 | 109,700,000 | 49,300,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 49,500,000 | 65,400,000 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 200,000 | -5,000,000 | ' |
Other comprehensive income, net of tax | 49,700,000 | 60,400,000 | ' |
Parent [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | 340,700,000 | 274,500,000 | 198,700,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 65,700,000 | 80,500,000 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 500,000 | -4,700,000 | ' |
Other comprehensive income, net of tax | 66,200,000 | 75,800,000 | ' |
Noncontrolling Interest [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | 0 | -200,000 | -200,000 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 200,000 | 0 | ' |
Other comprehensive income, net of tax | 200,000 | 0 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income | 340,700,000 | 274,300,000 | ' |
Other comprehensive income, net of tax | $66,400,000 | $75,800,000 | ' |
8_Accumulated_Other_Comprehens4
8. Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Selling, general and administrative expense | ($798,070,000) | ($681,778,000) | ($695,984,000) |
Income Tax Expense (Benefit) | -34,574,000 | -64,361,000 | -67,034,000 |
Net income attributable to Bio-Rad | 77,790,000 | 165,477,000 | 179,013,000 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Selling, general and administrative expense | -700,000 | -300,000 | ' |
Income Tax Expense (Benefit) | 200,000 | 100,000 | ' |
Net income attributable to Bio-Rad | -500,000 | -200,000 | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | 100,000 | -2,900,000 | ' |
Net income attributable to Bio-Rad | -200,000 | 5,000,000 | ' |
Other Nonoperating Income | ($300,000) | $7,900,000 | ' |
9_Sharebased_Compensation_Deta
9. Share-based Compensation (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueVested | $2,200,000 | $2,300,000 | $3,300,000 | ' |
Share-based Compensation Expense | 13,700,000 | 13,200,000 | 10,700,000 | ' |
2011 Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of Shares Authorized | 600,000 | ' | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total unrecognized compensation cost from stock options | 30,500,000 | ' | ' | ' |
Weighted average fair value of options granted, period for recognition | '4 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding beginning of period | 348,501 | ' | ' | 242,222 |
Outstanding end of period | 375,430 | ' | 299,362 | 242,222 |
Stock Option and Award Plans [Member] | Incentive Award Plan (2007) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of Shares Authorized | 1,650,360 | ' | ' | ' |
Number of Shares Available for Grant | 492,310 | ' | ' | ' |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Options Granted Term | 'P10Y | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Outstanding | '4 years 6 months 11 days | ' | ' | ' |
Aggregate Intrinsic Value (in millions) - Outstanding | 28.3 | ' | ' | ' |
Options - Weighted-Average Exercise Price | $78.72 | $70.83 | $63.50 | $57.12 |
Options Granted - Weighted Average Exercise Price | $117.67 | $107.32 | $99.49 | ' |
Options Exercised - Weighted Average Exercise Price | $54.16 | $44.66 | $42.44 | ' |
Options Forfeitured/expired - Weighted Average Exercise Price | $91.32 | $87.78 | $62.98 | ' |
Options - Shares Vested and Expected to Vest | 612,946 | ' | ' | ' |
Options Vested and Expected to Vest - Weighted Average Exercise Price | $77.91 | ' | ' | ' |
Options Vested and Expected to Vest - Weighted Average Remaining Contractual Term (in years) | '4 years 4 months 28 days | ' | ' | ' |
Options Vested and Expected to Vest - Aggregate Intrinsic Value (in millions) | 28 | ' | ' | ' |
Weighted Average Exercise Price - Options Exercisable | $70.14 | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Exercisable | '3 years 2 months 23 days | ' | ' | ' |
Options Exercisable Aggregate Intrinsic Value (in millions) | 25.2 | ' | ' | ' |
Options, Exercises in Period, Total Intrinsic Value | 11,000,000 | 11,000,000 | 14,000,000 | ' |
Cash Received from Exercise of Stock Options | 4,100,000 | 3,400,000 | 7,700,000 | ' |
Tax Benefit Realized from Exercise of Stock Options | 6,600,000 | 6,500,000 | 6,000,000 | ' |
Total unrecognized compensation cost from stock options | 6,100,000 | ' | ' | ' |
Options Number Exercisable | 472,193 | ' | ' | ' |
Options Vesting Period | '5 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ' | ' | ' |
Weighted average fair value of options granted, period for recognition | '3 years | ' | ' | ' |
Expected Volatility | 28.00% | 30.00% | 32.00% | ' |
Risk Free Interest Rate | 2.65% | 1.53% | 1.71% | ' |
Expected life (in years) | '8 years 10 months 24 days | '9 years | '8 years 7 months 6 days | ' |
Expected dividend | 0 | 0 | 0 | ' |
Weighted average fair value of options granted | $47.25 | $41.82 | $40.81 | ' |
Expected dividend yield | 0.00% | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding beginning of period | 747,293 | 888,750 | 1,057,819 | ' |
Options - Shares Granted | 55,050 | 55,250 | 58,500 | ' |
Options - Shares Exercised | -159,450 | -181,707 | -220,372 | ' |
Options - Shares Forfeitures/expired | -13,250 | -15,000 | -7,197 | ' |
Outstanding end of period | 629,643 | 747,293 | 888,750 | ' |
Employee Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Contribution Rate - Maximum | 10.00% | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Contribution Amount | 25,000 | ' | ' | ' |
Employee Purchase Price Discount from Market Price | 85.00% | ' | ' | ' |
Expected dividend yield | 0.00% | ' | ' | ' |
Employee Stock [Member] | 2011 Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of Shares Available for Grant | 388,582 | ' | ' | ' |
Cash Received from Exercise of Stock Options | 10,000,000 | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 103,669 | ' | ' | ' |
Expected Volatility | 19.00% | ' | ' | ' |
Risk Free Interest Rate | 0.05% | ' | ' | ' |
Expected life (in years) | '3 months | ' | ' | ' |
Expected dividend | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $21.76 | ' | ' | ' |
Employee Stock [Member] | 1988 Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Cash Received from Exercise of Stock Options | ' | 9,200,000 | 8,100,000 | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | ' | 107,749 | 96,362 | ' |
Expected Volatility | ' | 27.00% | 20.00% | ' |
Risk Free Interest Rate | ' | 0.07% | 0.06% | ' |
Expected life (in years) | ' | '3 months | '3 months | ' |
Expected dividend | ' | $0 | $0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | ' | $20.70 | $20.35 | ' |
Stock Award Plans [Member] | Incentive Award Plan (2007) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Options Vesting Period | '5 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ' | ' | ' |
Range of Exercise Prices, Group One [Member] | Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Outstanding | '1 year 4 months 28 days | ' | ' | ' |
Options - Weighted-Average Exercise Price | $58.40 | ' | ' | ' |
Weighted Average Exercise Price - Options Exercisable | $58.40 | ' | ' | ' |
Options Number Exercisable | 191,930 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding end of period | 191,930 | ' | ' | ' |
Range of Exercise Prices, Group Two [Member] | Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Outstanding | '3 years 6 months 11 days | ' | ' | ' |
Options - Weighted-Average Exercise Price | $69.87 | ' | ' | ' |
Weighted Average Exercise Price - Options Exercisable | $69.56 | ' | ' | ' |
Options Number Exercisable | 168,313 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding end of period | 178,413 | ' | ' | ' |
Range of Exercise Prices, Group Three [Member] | Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Outstanding | '6 years 11 months 5 days | ' | ' | ' |
Options - Weighted-Average Exercise Price | $95.03 | ' | ' | ' |
Weighted Average Exercise Price - Options Exercisable | $91.11 | ' | ' | ' |
Options Number Exercisable | 111,950 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding end of period | 204,250 | ' | ' | ' |
Range of Exercise Prices, Group Four [Member] | Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term (in years) - Outstanding | '9 years 8 months 16 days | ' | ' | ' |
Options - Weighted-Average Exercise Price | $117.67 | ' | ' | ' |
Weighted Average Exercise Price - Options Exercisable | $0 | ' | ' | ' |
Options Number Exercisable | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding end of period | 55,050 | ' | ' | ' |
9_Sharebased_Compensation_Rest
9. Share-based Compensation Restricted Stock (Details) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total unrecognized compensation cost from restricted stock | $0 | ' | ' | ' |
Nonvested shares - Weighted Average Grant Date Fair Value | $88.09 | $84.07 | $83.21 | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' | ' |
Outstanding beginning of period | 12,957 | 39,629 | 68,893 | ' |
Restricted Stock Units - Vested | -12,610 | -25,124 | -26,179 | ' |
Restricted Stock Units - Forfeited | -347 | -1,548 | -3,085 | ' |
Outstanding end of period | 0 | 12,957 | 39,629 | ' |
Restricted Stock Units Vested - Weighted-Average Grant-Date Fair Value | $88.09 | $81.98 | $81.98 | ' |
Resticted Stock Units Cancelled/forfeited - Weighted-Average Grant-Date Fair Value | $88 | $84.20 | $82.63 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total unrecognized compensation cost from restricted stock | $30.50 | ' | ' | ' |
Nonvested shares - Weighted Average Grant Date Fair Value | $96.45 | $88.31 | $80.61 | $105.44 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' | ' |
Outstanding beginning of period | 348,501 | 299,362 | 242,222 | ' |
Restricted Stock Units Granted | 144,445 | 138,840 | 127,920 | ' |
Restricted Stock Units - Vested | -92,273 | -75,466 | -54,350 | ' |
Restricted Stock Units - Forfeited | -25,243 | -14,235 | -16,430 | ' |
Outstanding end of period | 375,430 | 348,501 | 299,362 | ' |
Weighted Average Grant Date Fair Value - Granted | $117.09 | $107.32 | $98.25 | ' |
Restricted Stock Units Vested - Weighted-Average Grant-Date Fair Value | $92.26 | $85.52 | $79.67 | ' |
Resticted Stock Units Cancelled/forfeited - Weighted-Average Grant-Date Fair Value | $96.08 | $89.31 | $80.70 | ' |
Weighted Average Remaining Contractual Term (in years) | '2 years 1 month 17 days | ' | ' | ' |
Resticted Stock Units Outstanding Aggregate Intrinsic Value (in millions) | $46.40 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '4 years | ' | ' | ' |
10_Other_Income_and_Expenses_D
10. Other Income and Expenses (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |
Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | Clinical Diagnostics [Member] | |||||
Consideration for sale of building | ' | ' | ' | ' | ' | $6,400,000 | ' |
Gain (loss) on sale of property, plant and equipment - Diagnostics | ' | ' | ' | ' | ' | 4,300,000 | ' |
Interest and investment income | ' | -13,400,000 | -11,400,000 | -8,200,000 | ' | ' | ' |
Net realized losses (gains) on investments | ' | 300,000 | -8,700,000 | -700,000 | ' | ' | ' |
Other-than-temporary impairment losses on investments | ' | 300,000 | 1,000,000 | 2,100,000 | ' | ' | ' |
Loss (gain) on disposal of property plant equipment | ' | 500,000 | ' | 200,000 | ' | ' | ' |
(Gain) loss on sale of property, plant and equipment - consolidated | ' | ' | -3,800,000 | ' | ' | ' | ' |
Miscellaneous Other (Income) Expense Items, Net | ' | -500,000 | 1,000,000 | -1,000,000 | ' | ' | ' |
Other (income) expense, net | ' | 12,766,000 | 21,883,000 | 7,583,000 | ' | ' | ' |
Goodwill, Written off Related to Sale of Business Unit | $0 | $0 | $1,000,000 | $0 | $0 | $1,000,000 | $1,000,000 |
11_Supplemental_Cash_Flow_Info2
11. Supplemental Cash Flow Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other Significant Noncash Transactions [Line Items] | ' | ' | ' | ' |
Net income including noncontrolling interests | ' | $77,811,000 | $165,546,000 | $178,813,000 |
Depreciation and amortization | ' | 147,200,000 | 130,400,000 | 121,000,000 |
Share-based compensation | ' | 13,700,000 | 13,200,000 | 10,700,000 |
Loss (gain) on disposition of securities | ' | 600,000 | -7,600,000 | 1,500,000 |
Loss (gain) on sale of property, plant and equipment without goodwill writeoff | ' | ' | -4,800,000 | ' |
Loss (gain) on disposition of property, plant and equipment | ' | 500,000 | ' | 200,000 |
Excess tax benefits from share-based compensation | ' | -2,720,000 | -2,889,000 | -3,168,000 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | ' | -5,800,000 | -16,100,000 | 0 |
(Increase) decrease in Accounts Receivable | ' | -24,200,000 | 4,400,000 | -20,100,000 |
Increase in inventories | ' | -33,400,000 | -4,300,000 | -45,200,000 |
Increase in Other Current Assets | ' | -4,200,000 | -5,600,000 | 11,100,000 |
Increase (Decrease) in Accounts Payable and Other Current Liabilities | ' | 33,200,000 | 19,000,000 | -6,600,000 |
(Decrease) Increase in Income Taxes Payable | ' | -38,000,000 | -18,000,000 | 5,400,000 |
Decrease in deferred income taxes | ' | -4,000,000 | -10,300,000 | -1,600,000 |
Goodwill, Written off Related to Sale of Business Unit | 0 | 0 | 1,000,000 | 0 |
Net increase/decrease in other long-term liabilities/assets | ' | 14,800,000 | 12,100,000 | 10,700,000 |
Net cash provided by operating activities | ' | 175,476,000 | 276,028,000 | 262,735,000 |
Noncash or Part Noncash Acquisition, Intangible Assets Acquired | ' | 12,000,000 | 500,000 | 0 |
Noncash Purchased Marketable Securities and Investments | ' | $400,000 | $1,600,000 | $11,600,000 |
12_Commitments_Contingent_Liab1
12. Commitments & Contingent Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Dec. 31, 2013 | Oct. 04, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||
QuantaLife [Member] | QuantaLife [Member] | QuantaLife [Member] | CellSorter [Member] | UNITED STATES | 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] | Development [Member] | Sales [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] | Sales Milestone year 1 purchase orders [Member] | Sales milestone year 2 purchase orders [Member] | Sales milestone year 3 purchase orders [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] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | ||||||||||
QuantaLife [Member] | QuantaLife [Member] | CellSorter [Member] | CellSorter [Member] | CellSorter [Member] | |||||||||||||||||||||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | ' | ' | ' | ' | ' | ' | ' | $20,800,000 | [1] | $52,600,000 | [1] | ' | ' | $20,800,000 | $44,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating leases, due next twelve months | 39,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating leases, due in two years | 30,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating leases, due in three years | 24,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating leases, due in four years | 18,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating leases, due thereafter | 49,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Post-Employment Benefits Liability | 46,300,000 | 39,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Recorded Unconditional Purchase Obligation | 99,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Recorded Unconditional Purchase Obligation Due in Second to Third Year | 32,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Recorded Unconditional Purchase Obligation Due in Fourth to Fifth Year | 7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 59,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrecorded Unconditional Purchase Obligation | 65,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrecorded Unconditional Purchase Obligation, Due in Twelve Months | 57,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 7,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Letters of Credit Outstanding Amount | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | ' | ' | 6,000,000 | 6,000,000 | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Contingent Consideration, Potential Percentage Payout | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 51.32% | 50.38% | ' | ' | ' | ||
Employees Covered By Collective Bargaining Agreements U.S., Percentage | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Entity Number of Employees | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 16,100,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | 24,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 44,600,000 | 19,900,000 | 24,700,000 | ' | ' | ' | ' | ' | ' | ' | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 30,000,000 | 45,000,000 | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ||
[1] | The contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions):B DecemberB 31, 2013B DecemberB 31, 2012 Other current liabilities$6.1B $27.3Other long-term liabilities14.7B 25.3 Total$20.8B $52.6 |
12_Commitments_Contingent_Liab2
12. Commitments & Contingent Liabilities Period Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Lease - Rent Expense [Line Items] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $45.50 | $41.40 | $42.40 |
Contribution expense | $13.50 | $12.10 | $12.10 |
13_Legal_Proceedings_Legal_Pro
13. Legal Proceedings Legal Proceedings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Loss Contingencies [Line Items] | ' | ' |
Estimated loss contingency | $30,000,000 | $0 |
Interest Payable, Current | 5,000,000 | ' |
Including Interest [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Estimated loss contingency | $35,000,000 | ' |
14_Segment_Reporting_Details
14. Segment Reporting (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number Of Products And Services | 8,000 | ' | ' |
Net sales | $2,132,694,000 | $2,069,235,000 | $2,073,529,000 |
Interest expense | 61,271,000 | 51,112,000 | 53,135,000 |
Depreciation and amortization | 147,200,000 | 130,400,000 | 121,000,000 |
Segment profit | 169,456,000 | 264,176,000 | 305,241,000 |
Total assets | 3,388,790,000 | 3,443,503,000 | ' |
Payments to Acquire Property, Plant, and Equipment | 112,998,000 | 152,417,000 | 102,888,000 |
Life Science [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 710,000,000 | 688,400,000 | 694,700,000 |
Interest expense | 10,400,000 | 13,400,000 | 14,200,000 |
Depreciation and amortization | 32,600,000 | 26,300,000 | 17,300,000 |
Segment profit | -13,700,000 | 13,200,000 | 46,700,000 |
Total assets | 389,100,000 | 359,900,000 | ' |
Payments to Acquire Property, Plant, and Equipment | 19,800,000 | 17,300,000 | ' |
Clinical Diagnostics [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 1,408,000,000 | 1,365,500,000 | 1,363,800,000 |
Interest expense | 30,100,000 | 37,800,000 | 38,900,000 |
Depreciation and amortization | 91,500,000 | 92,900,000 | 93,200,000 |
Segment profit | 176,200,000 | 202,600,000 | 206,700,000 |
Total assets | 980,900,000 | 917,000,000 | ' |
Payments to Acquire Property, Plant, and Equipment | 72,800,000 | 76,800,000 | ' |
All Other Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 14,700,000 | 15,300,000 | 15,000,000 |
Interest expense | 100,000 | 200,000 | 200,000 |
Depreciation and amortization | 100,000 | 100,000 | 200,000 |
Segment profit | 1,100,000 | 1,600,000 | 1,300,000 |
Total assets | 5,100,000 | 4,300,000 | ' |
Payments to Acquire Property, Plant, and Equipment | $200,000 | $100,000 | ' |
14_Segment_Information_Segment
14. Segment Information Segment Profit Reconciliation (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-09 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | $112,385,000 | $229,907,000 | $245,847,000 | ' |
Gains (Losses) on Extinguishment of Debt | -15,600,000 | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 8.00% |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 163,600,000 | 217,400,000 | 254,700,000 | ' |
Foreign Currency Gain (Loss) [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | -8,600,000 | -5,000,000 | -13,800,000 | ' |
Corporate, Non-Segment [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | -55,400,000 | -4,400,000 | -2,700,000 | ' |
Other Income and Expense Non Operating [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 12,800,000 | 21,900,000 | 7,600,000 | ' |
Including Interest [Member] | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Loss Contingency, Loss in Period | $35,000,000 | ' | ' | ' |
14_Segment_Information_Segment1
14. Segment Information Segment Asset Reconciliation (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | $3,388,790 | $3,443,503 |
Other Noncurrent Assets [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 675,700 | 579,100 |
Goodwill [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 517,800 | 495,400 |
Property, Plant and Equipment excluding segment specific [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | -14,900 | -4,200 |
Other Current Assets [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 835,100 | 1,092,000 |
Operating Segments [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | $1,375,100 | $1,281,200 |
14_Segment_Information_Segment2
14. Segment Information Segment Information by Geographical Location (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | $2,132,694,000 | $2,069,235,000 | $2,073,529,000 |
Other assets and property, plant and equipment, net | 838,900,000 | 735,000,000 | ' |
Segement Geographical Group Europe [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 886,100,000 | 837,000,000 | 896,400,000 |
Other assets and property, plant and equipment, net | 217,400,000 | 199,100,000 | ' |
Segment Geographcial Group Pacific Rim [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 413,300,000 | 425,700,000 | 398,400,000 |
Other assets and property, plant and equipment, net | 28,200,000 | 30,000,000 | ' |
United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 677,700,000 | 656,700,000 | 631,000,000 |
Other assets and property, plant and equipment, net | 579,900,000 | 487,800,000 | ' |
Other (primarily Canada and Latin America) [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 155,600,000 | 149,800,000 | 147,700,000 |
Other assets and property, plant and equipment, net | $13,400,000 | $18,100,000 | ' |
15_Quarterly_Financial_Data_De
15. Quarterly Financial Data (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | |
2007 through 2011 [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Actual [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | ||||
Quantifying Misstatement in Current Year Financial Statements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $2,132,694,000 | $2,069,235,000 | $2,073,529,000 | ' | $602,600,000 | $505,100,000 | $525,300,000 | $499,700,000 | $573,800,000 | $498,700,000 | $510,400,000 | $486,300,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $602,600,000 | $505,100,000 | $525,300,000 | $499,700,000 | $573,800,000 | $498,700,000 | $510,400,000 | $486,300,000 |
Gross profit | 1,178,478,000 | 1,155,158,000 | 1,178,829,000 | ' | 322,700,000 | 284,200,000 | 300,100,000 | 271,400,000 | 314,500,000 | 273,800,000 | 288,100,000 | 278,700,000 | 0 | 0 | 0 | 0 | 400,000 | 300,000 | 200,000 | 100,000 | 322,700,000 | 284,200,000 | 300,100,000 | 271,400,000 | 314,100,000 | 273,500,000 | 287,900,000 | 278,600,000 |
Net income attributable to Bio-Rad | 77,790,000 | 165,477,000 | 179,013,000 | ' | 30,100,000 | -7,100,000 | 34,600,000 | 20,200,000 | 43,200,000 | 42,600,000 | 48,100,000 | 31,500,000 | 0 | 0 | -100,000 | 700,000 | 1,200,000 | 200,000 | -200,000 | 500,000 | 30,100,000 | -7,100,000 | 34,700,000 | 19,500,000 | 42,000,000 | 42,400,000 | 48,300,000 | 31,000,000 |
Basic earnings per share | $2.72 | $5.85 | $6.39 | ' | $1.05 | ($0.25) | $1.21 | $0.71 | $1.52 | $1.51 | $1.70 | $1.12 | $0 | $0 | ($0.01) | $0.03 | $0.04 | $0.01 | ($0.01) | $0.02 | $1.05 | ($0.25) | $1.22 | $0.68 | $1.48 | $1.50 | $1.71 | $1.10 |
Diluted earnings per share | $2.69 | $5.78 | $6.29 | ' | $1.04 | ($0.25) | $1.20 | $0.70 | $1.51 | $1.49 | $1.68 | $1.10 | $0 | $0 | $0 | $0.02 | $0.05 | $0.01 | ($0.01) | $0.01 | $1.04 | ($0.25) | $1.20 | $0.68 | $1.46 | $1.48 | $1.69 | $1.09 |
Quantifying Misstatement Amount | ' | ' | ' | $6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accoutns (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance Period Start | $52,856 | $48,926 | $37,015 | |||
Additions Charged (Credited) to Costs and Expenses | 11,155 | 3,700 | 6,356 | |||
Deductions | 0 | 0 | 0 | |||
Other | 0 | [1] | 230 | [1] | 5,555 | [1] |
Valuation Allowances and Reserves, Balance Period End | 64,011 | 52,856 | 48,926 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance Period Start | 29,202 | 33,259 | 25,052 | |||
Additions Charged (Credited) to Costs and Expenses | 9,181 | 7,597 | 15,112 | |||
Deductions | -5,912 | -11,654 | -6,905 | |||
Valuation Allowances and Reserves, Balance Period End | $32,471 | $29,202 | $33,259 | |||
[1] | Due to acquisitions. |