Bio-Rad Laboratories (BIO) 10-K 16 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 13, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-7928
Entity Registrant Name	BIO-RAD LABORATORIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1381833
Entity Address, Address Line One	1000 Alfred Nobel Drive,
Entity Address, City or Town	Hercules,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94547
City Area Code	(510)
Local Phone Number	724-7000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Central Index Key	0000012208
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Definitive Proxy Statement to be mailed to stockholders in connection with the registrant's 2024 Annual Meeting of Stockholders (specified portions) III
Common Class A
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock Par Value $0.0001 per share
Trading Symbol	BIO
Security Exchange Name	NYSE
Entity Public Float			$ 7,746,096,434
Entity Common Stock, Shares Outstanding		23,422,506
Common Class B
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock Par Value $0.0001 per share
Trading Symbol	BIO.B
Security Exchange Name	NYSE
Entity Public Float			$ 49,750,401
Entity Common Stock, Shares Outstanding		5,095,930

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Santa Clara, CA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 403,815	$ 434,215
Short-term investments	1,203,327	1,356,457
Restricted investments	5,560	5,560
Restricted investments	489,017	494,645
Inventory	780,517	719,316
Prepaid expenses	140,040	124,179
Other current assets	26,054	23,604
Total current assets	3,048,330	3,157,976
Property, plant and equipment, net	529,007	498,612
Operating lease right-of-use assets	194,730	180,952
Goodwill, net	413,569	406,488
Purchased intangibles, net	320,514	332,147
Other investments	7,698,070	8,830,892
Other assets	94,850	94,599
Total assets	12,299,070	13,501,666
Current liabilities:
Accounts payable	144,625	135,041
Accrued payroll and employee benefits	139,929	194,790
Current maturities of long-term debt and notes payable	486	465
Income and other taxes payable	35,759	32,428
Current operating lease liabilities	40,379	36,336
Other current liabilities	161,621	169,648
Total current liabilities	522,799	568,708
Long-term debt, net of current maturities	1,199,052	1,197,716
Deferred income taxes	1,475,495	1,770,481
Operating lease liabilities	165,478	153,597
Other long-term liabilities	195,113	195,912
Total liabilities	3,557,937	3,886,414
Commitments and contingent liabilities
Stockholders’ equity:
Additional paid-in capital	449,075	447,454
Class A treasury stock at cost, 1,747,438 shares at 2023 and 640,492 shares at 2022	(632,536)	(263,586)
Retained earnings	9,260,629	9,898,203
Accumulated other comprehensive loss	(336,038)	(466,822)
Total stockholders’ equity	8,741,133	9,615,252
Total liabilities and stockholders’ equity	12,299,070	13,501,666
Common Class A
Stockholders’ equity:
Common stock	2	2
Common Class B
Stockholders’ equity:
Common stock	$ 1	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss	$ 14,926	$ 15,029
Treasury stock (in shares)	1,747,438	640,492
Common Class A
Common stock issued	25,169,944	25,162,075
Common stock outstanding	23,422,506	24,521,583
Common stock par value	$ 0.0001	$ 0.0001
Common stock authorized	80,000,000	80,000,000
Common Class B
Common stock issued	5,095,930	5,074,130
Common stock outstanding	5,095,930	5,074,130
Common stock par value	$ 0.0001	$ 0.0001
Common stock authorized	20,000,000	20,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 681,200	$ 632,100	$ 681,100	$ 676,800	$ 730,300	$ 680,800	$ 691,100	$ 700,100	$ 2,671,262	$ 2,802,249	$ 2,922,545
Cost of goods sold									1,244,316	1,234,919	1,284,449
Gross profit	366,300	335,700	362,500	362,400	397,100	372,600	395,000	402,600	1,426,946	1,567,330	1,638,096
Selling, general and administrative expense									841,723	827,825	877,122
Research and development expense									247,427	256,889	260,638
Income from operations									337,796	482,616	500,336
Interest expense									49,439	38,114	1,551
Foreign currency exchange (gains) losses, net									(7,347)	(205)	2,753
(Gains) losses from change in fair market value of equity securities and loan receivable									1,252,251	5,193,554	(4,926,248)
Other income, net									(106,443)	(44,574)	(26,775)
Net income (loss) before income taxes									(850,104)	(4,704,273)	5,449,055
Benefit from (Provision for) income taxes									212,780	1,076,738	(1,194,798)
Net income (loss)	$ 349,700	$ 106,300	$ (1,162,300)	$ 69,000	$ 827,700	$ (162,800)	$ (925,100)	$ (3,367,300)	$ (637,324)	$ (3,627,535)	$ 4,254,257
Basic earnings (loss) per share:
Net income (loss) per basic share (in dollars per share)	$ 12.15	$ 3.65	$ (39.59)	$ 2.33	$ 27.89	$ (5.48)	$ (31.05)	$ (112.50)	$ (21.82)	$ (121.79)	$ 142.61
Weighted average common shares - basic (in shares)									29,209	29,785	29,831
Diluted earnings (loss) per share:
Net income (loss) per diluted share (in dollars per share)	$ 12.14	$ 3.64	$ (39.59)	$ 2.32	$ 27.78	$ (5.48)	$ (31.05)	$ (112.50)	$ (21.82)	$ (121.79)	$ 140.83
Weighted average common shares - diluted (in shares)									29,209	29,785	30,208

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (637,324)	$ (3,627,535)	$ 4,254,257
Foreign currency translation adjustments	132,412	(296,028)	(469,088)
Foreign other post-employment benefits adjustments	(12,846)	20,859	15,099
Net unrealized holding gains (losses) on available-for-sale (AFS) investments	11,218	(16,100)	(4,020)
Other comprehensive income (loss), net of tax	130,784	(291,269)	(458,009)
Comprehensive income (loss)	$ (506,540)	$ (3,918,804)	$ 3,796,248

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Cash received from customers	$ 2,684,248	$ 2,699,401	$ 2,886,489
Cash paid to suppliers and employees	(2,240,486)	(2,408,043)	(2,127,939)
Interest paid, net	(47,489)	(24,435)	(2,251)
Income tax payments, net	(129,593)	(158,259)	(134,683)
Dividend proceeds and miscellaneous receipts, net	100,101	68,184	35,282
Proceeds from forward foreign exchange contracts, net	8,162	17,599	12,566
Net cash provided by operating activities	374,943	194,447	669,464
Cash flows from investing activities:
Payments for purchases of property, plant and equipment	(156,680)	(112,782)	(133,746)
Proceeds from dispositions of property, plant and equipment	211	161	52
Proceeds from divestiture of a division	2,500	1,360	0
Payments for acquisitions, net of cash received	0	(100,746)	(125,516)
Payments for purchases of intangible assets	0	(1,375)	0
Payments for investment in loan receivable	0	0	(453,440)
Payments for purchases of marketable securities and investments	(689,041)	(2,060,238)	(851,627)
Proceeds from sales of marketable securities and investments	501,939	708,214	425,537
Proceeds from maturities of marketable securities and investments	361,279	357,813	341,359
Net cash provided by (used in) investing activities	20,208	(1,207,593)	(797,381)
Cash flows from financing activities:
Proceeds from issuance of Notes, net of debt financing costs	0	1,186,220	0
Payments on long-term borrowings	(467)	(510)	(3,020)
Proceeds from issuance of common stock and from reissuance of treasury stock under the employee stock purchase plan and upon exercise of stock options	18,484	17,560	20,632
Tax payments from net share settlement	(14,936)	(13,967)	(22,482)
Payments for purchases of treasury stock	(428,728)	(215,679)	(49,998)
Payments of contingent consideration	0	(48)	(561)
Net cash (used in) provided by financing activities	(425,647)	973,576	(55,429)
Effect of foreign exchange rate changes on cash	321	2,981	(12,636)
Net decrease in cash, cash equivalents and restricted cash	(30,175)	(36,589)	(195,982)
Cash, cash equivalents and restricted cash at beginning of year	434,544	471,133	667,115
Cash, cash equivalents and restricted cash at end of year	404,369	434,544	471,133
Cash and cash equivalents	403,815	434,215	470,783
Restricted cash included in Other current assets	151	13	14
Restricted cash included in Other assets	403	316	336
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 404,369	$ 434,544	$ 471,133

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020	$ 9,889,687	$ 3	$ 429,376	$ (99,907)	$ 9,277,759	$ 282,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,254,257				4,254,257
Other comprehensive loss, net of tax	(458,009)					(458,009)
Issuance of common stock	1,850		1,850	0
Stock compensation expense	51,160		51,160	0
Purchase of treasury stock	(49,998)			(49,998)
Reissuance of treasury stock	11		(36,953)	(43,615)	(6,673)
Ending balance at Dec. 31, 2021	13,685,236	3	441,733	(106,290)	13,525,343	(175,553)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,627,535)				(3,627,535)
Other comprehensive loss, net of tax	(291,269)					(291,269)
Issuance of common stock	(3,373)		(3,373)
Stock compensation expense	60,917		60,917
Purchase of treasury stock	(215,679)			(215,679)
Reissuance of treasury stock	6,955		(51,823)	(58,383)	395
Ending balance at Dec. 31, 2022	9,615,252	3	447,454	(263,586)	9,898,203	(466,822)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(637,324)				(637,324)
Other comprehensive loss, net of tax	130,784					130,784
Stock compensation expense	61,271		61,271
Purchase of treasury stock	(428,728)			(428,728)
Reissuance of treasury stock	19,101		(44,714)	(64,065)	(250)
Shares withheld related to net share settlement of equity awards	(14,936)		(14,936)
Excise tax on stock repurchase	(4,287)			(4,287)
Ending balance at Dec. 31, 2023	$ 8,741,133	$ 3	$ 449,075	$ (632,536)	$ 9,260,629	$ (336,038)

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
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. Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting periods. Bio-Rad bases its estimates on historical experience and on various other market-specific and other relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Such estimates include, but are not limited to, revenue recognition, the valuation of inventory, the valuation of acquired intangible assets, valuation of accounts receivable, estimation of warranty reserve, estimation of legal reserves, the recognition and measurement of current and deferred income tax assets and fair value measurement of the Loan receivable. Actual results could differ materially from those estimates. 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. Short-term Restricted Investments Short-term restricted investments of $5.6 million at both December 31, 2023 and 2022 represent a money market fund that is provided as collateral to secure worker's compensation and general liability insurance. Available-for-Sale Investments Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities and U.S. government sponsored agencies. 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 (loss), net of any related tax effect. Realized gains and losses and other-than-temporary impairments on investments are included in Other income, net (see Note 11). 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, trade accounts receivable and loans receivable. Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions. 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. Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. We manage our accounts receivable credit risk through ongoing credit evaluation of our customers' financial conditions. We generally do not require collateral from our customers. Loans receivable represent the Loan extended to SHB and is collateralized by the pledge of certain trust interests under the Sartorius family trust ("Trust"), which upon termination of the Trust represent the right to receive Sartorius ordinary shares. The collateral is subject to market volatility based on fluctuation in value of the Sartorius ordinary shares. Accounts Receivable and Allowance for Credit Losses We record trade accounts receivable at the net invoice value and such receivables are non-interest bearing. We consider receivables past due based on the contractual payment terms. Amounts later determined and specifically identified to be uncollectible are charged or written off against the allowance for credit losses. Any adjustments made to our historical loss experience reflect current differences in asset-specific risk characteristics, including, for example, accounts receivable by customer type (public or government entity versus private entity) and by geographic location of the customer. Changes in our allowance for credit losses were as follows (in millions): December 31, 2023 2022 2021 Beginning balance $ 15.0 $ 15.1 $ 19.8 Provision for expected credit losses 0.5 1.7 1.4 Write-offs charged against the allowance (1.2) (1.9) (6.4) Recoveries collected 0.6 0.1 0.3 Ending balance $ 14.9 $ 15.0 $ 15.1 Inventory Inventories are valued at the lower of cost and net realizable value and include material, labor and overhead costs. Cost is determined using standard costs, which approximate actual costs, and are relieved from inventory on a first-in, first-out or average cost basis. We classify our inventories based on our historical and anticipated levels of sales; any inventory in excess of its normal operating cycle (1 – 3 years depending on our product line) is classified as long-term on our consolidated balance sheets. The long-term inventory was immaterial as of December 31, 2023 and 2022. Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. 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. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years. When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses. Internal-Use Software Development Costs Costs incurred in the development of internal use software during the application development stage are capitalized and included in Property, plant and equipment, net on the consolidated balance sheets. Such capitalized costs include costs directly associated with the development of the applications. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point the project is substantially complete and is ready for its intended purpose. Internal-use software is amortized on a straight-line basis over the estimated useful life of between 3-5 years. Costs incurred during the preliminary project stage, as well as maintenance and training costs, are expensed as incurred. Leases We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use (“ROU”) assets, Current operating lease liabilities, and Operating lease liabilities in our consolidated balance sheets. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt, net of current maturities in our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Operating lease ROU assets also include any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease. For purposes of determining the lease term used in the measurement of operating lease ROU assets and operating lease liabilities, we include the noncancellable period of the lease together with those periods covered by the option to extend the lease if we are reasonably certain to exercise that option, the periods covered by an option to terminate the lease if we are reasonably certain not to exercise that option, and the periods covered by the option to extend (or to not terminate) the lease in which exercise of the option is controlled by the lessor. Lease expense is recognized on a straight-line basis over the lease term. Where we act as lessee, we elected not to separate lease and non-lease components. Intangible Assets Our intangible assets principally include goodwill, acquired technology / know how, license, tradenames, customer relationships, and in-process research and development. Intangible assets with finite lives, which include acquired technology / know how, tradenames, licenses and customer relationships, are carried at cost and amortized using the straight-line method over their estimated useful lives. The estimated useful lives used in computing amortization of intangible assets are as follows: Customer relationships/lists 4 – 16 years Know how 14 years Developed product technology 2 – 20 years Licenses 12 – 13 years Tradenames 6 – 10 years Covenants not to compete 3 – 10 years Intangible assets with indefinite lives, which include only goodwill and in-process research and development assets, are recorded at cost and evaluated at least annually for impairment. Impairment of Long-Lived Assets We review long-lived assets, such as property, plant and equipment and finite-lived intangible assets, for impairment whenever events indicate that the carrying amounts might not be recoverable. Recoverability of property, plant and equipment, and other finite-lived intangible assets are measured by comparing the projected undiscounted net cash flows associated with those assets to their carrying values. If an asset is considered impaired, it is written down to its fair value, which is determined based on the asset's projected discounted cash flows or appraised value, depending on the nature of the asset. For purposes of recognition of impairment for assets held for use, we group assets and liabilities at the lowest level for which cash flows are separately identifiable. There were no impairments of finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021. Impairment of Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. We conduct an impairment analysis for goodwill annually in the fourth quarter or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business. Significant judgments are involved in determining if an indicator of impairment has occurred. Such indicators may include deterioration in general economic conditions, negative developments in equity and credit markets, adverse changes in the markets in which an entity operates, increases in input costs that have a negative effect on earnings and cash flows, or a trend of negative or declining cash flows over multiple periods, among others. The fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill. We first may assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test included in U.S. GAAP. To the extent our assessment identifies adverse conditions, or if we elect to bypass the qualitative assessment, goodwill is tested at the reporting unit level using a quantitative impairment test. We determined that there are two reporting units, which are the same as our operating segments namely Life Science and Clinical Diagnostics. We generally estimate the fair value of the reporting units in goodwill impairment assessments using an income approach, which includes an analysis of the future cash flows expected to be generated and the risk associated with achieving such cash flows. This approach requires significant management judgment including the discount rate that is applied to the discretely forecasted future cash flows to calculate the present value of those cash flows and the estimate of future cash flows attributable to the reporting unit. Actual results may differ from management’s estimates. We elected to perform a quantitative assessment of goodwill during the fourth quarter of 2023 and concluded that the fair value of the reporting units exceeded the carrying amount and that goodwill is not impaired. There were no impairments for the years ended December 31, 2023, 2022 and 2021. Impairment of Indefinite-Lived Intangible Assets For indefinite-lived intangible assets such as in-process research and development, we conduct an impairment analysis annually in the fourth quarter or more frequently if indicators of impairment exist. We first perform a qualitative assessment to determine if it is more likely than not that the carrying amount of each of the in-process research and development assets exceeds its fair value. The qualitative assessment requires the consideration of factors such as adverse macroeconomic conditions, declining market and industry trends in which the company operates, rising cost factors including inflation, and changes in projected future cash flows. If we determine it is more likely than not that the fair value is less than its carrying amount of the in-process research and development assets, a quantitative assessment is performed. The quantitative assessment compares the fair value of the in-process research and development assets to its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized for the excess. We elected to perform a qualitative assessment of indefinite-lived intangible assets and determined that it is not more likely than not that the fair value is less than its carrying amount and that in-process research and development are not impaired. 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 net operating losses, tax 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 such temporary 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 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. 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 We recognize revenue from operations through the sale of products, services, license of intellectual property and rental of instruments. Revenue from contracts with customers is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Revenue is recognized net of any taxes collected from customers (sales tax, value added tax, etc.), which are subsequently remitted to government authorities. We enter into contracts that can include various combinations of products and services, which are generally accounted for as distinct performance obligations. A product or service is considered distinct if it is separately identifiable from other deliverables in the arrangement and if a customer can benefit from such product or service on its own or with other resources that are readily available to the customer. The transaction consideration is allocated between separate performance obligations of an arrangement based on the stand-alone selling price (“SSP”) for each distinct product or service. We recognize revenue from product sales at the point in time when we have satisfied our performance obligation by transferring control of the product to the customer. We use judgment to evaluate whether and when control has transferred and consider the right to payment, legal title, physical possession, risks and rewards of ownership, and customer acceptance if it is not a formality, as indicators to determine the transfer of control to the customer. For products that include installation, the product and installation are separate performance obligations. The product revenue is recognized when control has transferred to the customer, generally upon delivery, and installation service revenue is recognized when the product installation is completed. Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement as a stand-ready performance obligation. For arrangements that include a combination of products and services, the transaction price is allocated to each performance obligation based on stand-alone selling prices. The method used to determine the stand-alone selling prices for product and service revenues is based on the observable prices when the product or services have been sold separately. We recognize revenues for a functional license of intellectual property at a point in time when the control of the license and technology transfers to the customer. For license agreements that include sales or usage-based royalty payments to us, we recognize revenue at the later of (i) when the related sale of the product occurs, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied. The primary purpose of our invoicing terms is to provide customers with simple and predictable methods of purchasing our products and services, not to either provide or receive financing to or from our customers. We record contract liabilities when cash payments are received or due in advance of our performance. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Our payment terms vary by the type and location of our customer, and the products and services offered. The term between invoicing and when payment is due is not significant. In addition, we offer a reagent rental program which provides our customers the ability to use an instrument and consumables (reagents) on a per test basis. These agreements may also include maintenance of the instruments placed at customer locations as well as initial training. We initially determine if a reagent rental arrangement contains a lease at contract commencement. Where we have determined that such an arrangement contains a lease, we then determine the lease classification. Our reagent rental arrangements are predominantly classified as operating leases and any sales-type leases have historically been immaterial and we do not enter into direct finance leases. We concluded that the use of the instrument (referred to as “lease elements”) in our reagent rental agreements is not governed by the revenue recognition guidance of ASC 606 but instead is addressed by the lease guidance in ASC 842. Accordingly, we first allocate the transaction price between the lease elements and the non-lease elements based on relative standalone selling prices. Our reagent rental arrangements are predominantly comprised of variable lease payments that fluctuate depending on the volume of reagents purchased, as such arrangements generally do not contain any fixed or minimum lease payments. Maintenance services and reagent sales are allocated to the non-lease elements and recognized as income over time as control is transferred. Maintenance services are recognized ratably over the period whereas reagents revenue is recognized upon transfer of control when either (i) the consumables are delivered or (ii) the consumables are consumed by the customer. Revenue attributed to the lease elements of our reagent rental arrangements represented approximately 3% of total revenue in 2023, 3% of total revenue in 2022 and 2% of total revenue in 2021. Such revenue forms part of the Net sales in our consolidated statements of income (loss). Contract costs: As a practical expedient, we expense as incurred costs to obtain contracts as the amortization period would have been one year or less. These costs include our internal sales force and certain partner sales incentive programs and are recorded within Selling, general and administrative expense in our consolidated statements of income (loss). Disaggregation of Revenue: The disaggregation of our revenue by geographic region is based primarily on the location of the use of the product or service, and by industry segment sources. The disaggregation of our revenues by industry segment sources are presented in our Segment Information footnote (see Note 15). Deferred revenues primarily represent unrecognized fees billed or collected for extended service arrangements including installation services. The deferred revenue balance at December 31, 2023 and December 31, 2022 was $68.3 million and $71.9 million, respectively. The short-term deferred revenue balance at December 31, 2023 and December 31, 2022 was $51.1 million and $52.2 million, respectively. We warrant certain equipment against defects in design, materials and workmanship, generally for a period of one year. We estimate the cost of warranties at the time the related revenue is recognized based on historical experience, specific warranty terms and customer feedback. These costs are recorded within Cost of goods sold in our consolidated statements of income (loss). Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions): 2023 2022 2021 January 1 $ 10.6 $ 12.7 $ 9.8 Provision for warranty 9.3 8.8 14.8 Actual warranty costs (11.5) (10.9) (11.9) December 31 $ 8.4 $ 10.6 $ 12.7 Shipping and Handling We classify all freight costs billed to customers as Net sales. Related freight costs are recognized upon transfer of control of the promised products to customers as a fulfillment cost and included in Cost of goods sold. Research and Development All research and development costs are expensed as incurred. Types of expense incurred in research and development include materials and supplies, employee compensation, consulting and third-party services, depreciation, facility costs and information technology. 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 currency exchange (gains) losses, net in the consolidated statements of income (loss). 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 in Foreign currency exchange (gains) losses, net in the consolidated statements of income (loss). We classify the proceeds from forward foreign exchange contracts, net as cash flows from operating activities in our consolidated statements of cash flows. Share-Based Compensation Plans Share-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value. We recognize these compensation costs over the requisite service period of the award, which is generally the vesting term of the share-based payment awards. Forfeitures are recognized as they occur. These plans are described more fully in Note 10. Earnings (Loss) Per Share We compute net income (loss) per share of Class A Common Stock (Class A) and Class B Common Stock (Class B) using the two-class method required for participating securities. Our participating securities include Class A and Class B. Each share of Class A and Class B participates equally in earnings and losses, but may not participate equally in dividend distributions. No dividends were distributed or declared during any of the periods presented. Earnings (loss) is attributable equally to each share of Class A and Class B common stock and is determined based on the weighted average number of the respective class of common stock outstanding for the year. Accordingly, basic earnings (loss) per share is computed by dividing net income (loss) 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, restricted stock and performance 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 (loss) per share calculation if the effect of including such securities would be anti-dilutive. The weighted average number of common shares outstanding used to calculate basic and diluted earnings (loss) per share, and the anti-dilutive shares that are excluded from the diluted earnings (loss) per share calculation are as follows (in thousands): Year Ended December 31, 2023 2022 2021 Basic weighted average shares common outstanding 29,209 29,785 29,831 Effect of potentially dilutive stock options, restricted stock and performance stock awards — — 377 Diluted weighted average common shares outstanding 29,209 29,785 30,208 Anti-dilutive shares 212 325 33 Fair Value of Financial Instruments For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, 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 2). Variable Interest Entities We enter into relationships with or make investments in other entities that may be variable interest entities ("VIE"). A VIE is consolidated in the financial statements if we are the primary beneficiary. The primary beneficiary has the power to direct activities that most significantly impact the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. In 2021, we extended a loan to a VIE, Sartorius-Herbst Beteiligungen II GmbH ("SHB"), a private limited company incorporated under the laws of Germany (See Note 2). We have not consolidated this entity because we do not have the power to direct the activities that most significantly impact the VIE’s economic performance related to repayment of the loan or cash management of the SHB and, thus, we are not considered the primary beneficiary of the VIE. We believe that our maximum exposure to loss as a result of our involvement with the VIE is limited to the receivable due to us from the VIE under the terms of the loan. Equity Investments Investments in publicly traded companies in which we do not have the ability to exercise significant influence are reported at fair value, with unrealized gains and losses reported as a component of (gains) losses from change in fair market value of equity securities and loan receivable in our consolidated statements of income (loss). Companies in which we do not have a controlling financial interest, but over which we have significant influence, are accounted for using the equity method. Our share of the after-tax earnings of equity method investees is included in Other income, net in our consolidated statements of income (loss) . Investments in privately held companies in which we do not have the ability to exercise significant influence are accounted for using the cost method with adjustments for observable changes in price or impairments (see Note 2). We monitor our relationships with investees when changes oc

Fair Value Measurements and Inv

Fair Value Measurements and Investments	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	2. FAIR VALUE MEASUREMENTS AND INVESTMENTS 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, 2023 are classified in the hierarchy as follows (in millions): Level 1 Level 2 Level 3 Total Financial assets carried at fair value: Cash equivalents: Commercial paper $ — $ 12.5 $ — $ 12.5 Time deposits — 36.6 — 36.6 U.S. government sponsored agencies — 7.0 — 7.0 Money market funds 28.0 — — 28.0 Total cash equivalents (a) 28.0 56.1 — 84.1 Restricted investments (b) 7.1 — — 7.1 Equity Securities (c) 7,399.3 — — 7,399.3 Loan under the fair value option (d) — — 325.7 325.7 Available-for-sale investments: Corporate debt securities — 531.6 — 531.6 U.S. government sponsored agencies — 255.9 — 255.9 Foreign government obligations — 12.7 — 12.7 Municipal obligations — 12.1 — 12.1 Asset-backed securities — 323.7 — 323.7 Total available-for-sale investments (e) — 1,136.0 — 1,136.0 Forward foreign exchange contracts (f) — 4.1 — 4.1 Total financial assets carried at fair value $ 7,434.4 $ 1,196.2 $ 325.7 $ 8,956.3 Financial liabilities carried at fair value: Forward foreign exchange contracts (g) $ — $ 11.7 $ — $ 11.7 Contingent consideration (h) — — 17.5 17.5 Total financial liabilities carried at fair value $ — $ 11.7 $ 17.5 $ 29.2 Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2022 are classified in the hierarchy as follows (in millions): Level 1 Level 2 Level 3 Total Financial assets carried at fair value: Cash equivalents: Commercial paper $ — $ 21.1 $ — $ 21.1 Time deposits 5.7 — — 5.7 Asset-backed securities — 1.4 — 1.4 U.S. government sponsored agencies — 6.0 — 6.0 Money market funds 31.5 — — 31.5 Total cash equivalents (a) 37.2 28.5 — 65.7 Restricted investments (b) 6.8 — — 6.8 Equity securities (c) 8,530.4 — — 8,530.4 Loan under the fair value option (d) — — 322.6 322.6 Available-for-sale investments: Corporate debt securities — 699.3 — 699.3 U.S. government sponsored agencies — 230.7 — 230.7 Foreign government obligations — 13.5 — 13.5 Municipal obligations — 23.1 — 23.1 Asset-backed securities — 333.4 — 333.4 Total available-for-sale investments (e) — 1,300.0 — 1,300.0 Forward foreign exchange contracts (f) — 1.5 — 1.5 Total financial assets carried at fair value $ 8,574.4 $ 1,330.0 $ 322.6 $ 10,227.0 Financial liabilities carried at fair value: Forward foreign exchange contracts (g) $ — $ 6.2 $ — $ 6.2 Contingent consideration (h) — — 35.6 35.6 Total financial liabilities carried at fair value $ — $ 6.2 $ 35.6 $ 41.8 (a) Cash equivalents are included in Cash and cash equivalents in the consolidated balance sheets. (b) Restricted investments are included in the following accounts in the consolidated balance sheets (in millions): December 31, 2023 December 31, 2022 Restricted investments $ 5.6 $ 5.6 Other investments 1.5 1.2 Total $ 7.1 $ 6.8 (c) Equity securities are included in the following accounts in the consolidated balance sheets (in millions): December 31, 2023 December 31, 2022 Short-term investments $ 67.2 $ 56.5 Other investments 7,332.1 8,473.9 Total $ 7,399.3 $ 8,530.4 (d) The Loan under the fair value option is included in Other investments in the consolidated balance sheets. (e) Available-for-sale investments are included in Short-term investments in the consolidated balance sheets. (f) Forward foreign exchange contracts in an asset position are included in Other current assets in the consolidated balance sheets. (g) Forward foreign exchange contracts in a liability position are included in Other current liabilities in the consolidated balance sheets. (h) Contingent considerations in a liability position are included in Other long-term liabilities in the consolidated balance sheets. The changes in the fair value of contingent consideration included in Research and development expense and Selling, general and administrative expense amounted to $14.0 million and $4.1 million in the consolidated statements of income (loss) for the year ended December 31, 2023, respectively. No conditions triggering payment of the contingent consideration were met as of December 31, 2023. Level 1 Fair Value Measurements As of December 31, 2023, we own 12,987,900 ordinary voting shares and 9,588,908 preference shares of Sartorius AG (Sartorius), of Goettingen, Germany, a process technology supplier to the biotechnology, pharmaceutical, chemical and food and beverage industries. We own approximately 38% of the outstanding ordinary shares (excluding treasury shares) and 28% of the preference shares of Sartorius as of December 31, 2023. The Sartorius family trust (Sartorius family members are beneficiaries of the trust) holds a majority interest of the outstanding ordinary shares of Sartorius. We do not have the ability to exercise significant influence over the operating and financial policies of Sartorius primarily because we do not have any representative or designee on Sartorius' board of directors and have tried and failed to obtain access to operating or financial information necessary to apply the equity method of accounting. The change in fair market value of our investment in Sartorius for the twelve months ended December 31, 2023 was a loss of $1,259.4 million and is recorded in our consolidated statements of income (loss). Level 2 Fair Value Measurements To estimate the fair value of Level 2 debt securities as of December 31, 2023 and 2022, our primary pricing provider uses Refinitiv as the primary pricing source. Our pricing process allows us to select a hierarchy of pricing sources for securities held. If Refinitiv does not price a Level 2 security that we hold, then the pricing provider will utilize our custodian supplied pricing as the secondary pricing source. Available-for-sale investments consist of the following (in millions): December 31, 2023 Amortized Unrealized Unrealized Allowances for Credit Losses Estimated Short-term investments: Corporate debt securities $ 534.1 $ 0.8 $ (3.3) — $ 531.6 Municipal obligations 12.2 — (0.1) — 12.1 Asset-backed securities 325.7 0.7 (2.7) — 323.7 U.S. government sponsored agencies 257.4 0.1 (1.6) — 255.9 Foreign government obligations 12.8 — (0.1) — 12.7 $ 1,142.2 $ 1.6 $ (7.8) $ — $ 1,136.0 The following is a summary of the amortized cost and estimated fair value of our debt securities at December 31, 2023 by contractual maturity date (in millions): Amortized Estimated Fair Mature in less than one year $ 450.9 $ 448.2 Mature in one to five years 558.6 556.6 Mature in more than five years 132.7 131.2 Total $ 1,142.2 $ 1,136.0 Available-for-sale investments consist of the following (in millions): December 31, 2022 Amortized Unrealized Unrealized Estimated Short-term investments: Corporate debt securities $ 709.9 $ 0.2 $ (10.8) $ 699.3 Municipal obligations 23.4 — (0.3) 23.1 Asset-backed securities 339.6 0.1 (6.3) 333.4 U.S. government sponsored agencies 233.9 — (3.2) 230.7 Foreign government obligations 13.8 — (0.3) 13.5 Total $ 1,320.6 $ 0.3 $ (20.9) $ 1,300.0 As of December 31, 2023 there were no significant continuous unrealized losses greater than 12 months. Our evaluation of credit losses for available-for-sale investments included t he extent to which the fair value is less than the amortized cost basis, adverse conditions specifically related to the debt security, an industry or geographic area, and any changes in the rating of a security by a rating agency. Credit loss impairments are limited to the amount that the fair value of an instrument is less than its amortized cost basis. At December 31, 2023, we have concluded that all payments related to our available-for-sale investments are expected to be made in full and on time at par value. The diminution of value in the intervening period is due to market conditions such as illiquidity and interest rate movements and not due to significant, inherent credit concerns surrounding the issuer. As a result, we have no allowances for credit losses on our available-for-sale investments portfolio as of December 31, 2023. Included in Other current assets are $11.9 million and $11.6 million of interest receivable as of December 31, 2023 and December 31, 2022, respectively, primarily associated with securities in our available-for-sale investments portfolio. Associated interest on these securities is typically payable semi-annually. Due to the short-term nature of our interest receivable asset, we have made an accounting policy election not to measure an allowance for credit losses for accrued interest receivable. We consider any uncollected interest receivable that is overdue greater than one year to be impaired for purposes of write-off. For the year ended December 31, 2023, we have not written off any uncollected interest receivable. 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, are recorded at their fair value at each balance sheet date. The notional amounts provide one measure of foreign exchange exposures as of December 31, 2023 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 and forward points from Refinitiv on the last business day of the quarter. The resulting gains or losses from foreign exchange contracts offset gains or losses from foreign currency remeasurement of the related receivables and payables, both of which are included in Foreign currency exchange (gains) losses, net in the consolidated statements of income (loss). The following is a summary of our forward foreign currency exchange contracts (in millions): December 31, 2023 Contracts maturing in January through March 2024 to sell foreign currency: Notional value $ 873.5 Unrealized gain/(loss) $ (8.1) Contracts maturing in January through March 2024 to purchase foreign currency: Notional value $ 133.6 Unrealized gain/(loss) $ 0.5 Included in Other investments in the consolidated balance sheet are investments without readily determinable fair value measured at cost with adjustments for observable price changes or impairments. The carrying value of these investments was $6.5 million as of December 31, 2023 and 2022. Also included in Other investments in the consolidated balance sheet are our equity method investments, for which our share of the equity method investees earnings is included in Other income, net in our consolidated statements of income (loss). The carrying value of these investments, net of impairments, was $32.3 million and $26.7 million as of December 31, 2023 and December 31, 2022, respectively. The carrying value and fair value of our long-term debt were as follows (in millions): December 31, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Senior notes $ 1,189.5 $ 1,102.5 $ 1,187.6 $ 1,056.0 Other long-term debt 9.6 9.6 10.1 10.1 Total $ 1,199.1 $ 1,112.1 $ 1,197.7 $ 1,066.1 The fair value of our long-term debt was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends, which represent level 2 measurements. Level 3 Fair Value Investments During the fourth quarter of 2021, we extended a collateralized loan to Sartorius-Herbst Beteiligungen II Gmbh ("SHB"), a private limited company incorporated under the laws of Germany, with a principal amount of €400 million due on January 31, 2029, subject to certain events which could trigger payment prior to maturity (“Loan”). SHB used the Loan proceeds to partially finance the acquisition of interests under the Sartorius family trust (“Trust”) from a beneficiary of the Trust. The Loan is collateralized by the pledge of certain of the Trust interests, which upon termination of the Trust in mid-2028 represent the right to receive Sartorius ordinary shares. Interest on the loan is payable annually in arrears at 1.5% per annum, and the entire principal amount is due at maturity. In addition to contractual interest, we are entitled to certain value appreciation rights associated with the acquired Trust interests, which upon termination of the Trust represent the right to receive Sartorius ordinary shares, that is due upon repayment of the Loan. We elected the fair value option under ASC 825, Financial Instruments for accounting of the Loan to SHB to simplify the accounting. The fair value of the Loan and value appreciation right is estimated under the income approach using a discounted cash flow, and option pricing model, respectively, which results in a fair value measurement categorized in Level 3. The significant assumptions used to estimate fair value of the Loan include an estimate of the discount rate and cash flows of the Loan and the significant assumptions used to estimate the fair value of the value appreciation right include volatility, the risk-free interest rate, expected life (in years) and expected dividend. The inputs are subject to estimation uncertainty and actual amounts realized may materially differ. An increase in the expected volatility may result in a significantly higher fair value, whereas a decrease in expected life may result in a significantly lower fair value. All subsequent changes in fair value of the Loan and value appreciation right, including accrued interest are recognized in (Gains) losses from change in fair market value of equity securities and loan receivable in our consolidated statements of income (loss). The overall change in fair market value reflected in (Gains) losses from change in fair market value of equity securities and loan receivable during the twelve months ended December 31, 2023 was a loss of $6.8 million, which includes a $24.5 million gain from change in fair market value of the Loan and a $31.3 million loss from change in fair market value of the value appreciation right. The decrease in the fair market value of the value appreciation right was due to a decline in the value of the Sartorius ordinary shares. As of December 31, 2023, the €400.0 million principal amount of the loan is still due on January 31, 2029. The following table provides a reconciliation of the Level 3 Loan measured at estimated fair value (in millions): December 31, 2022 $ 322.6 Net decrease in estimated fair market value of the loan included in Gains (losses) in fair market value of equity securities and loan receivable (6.8) Foreign currency adjustments gains (losses), net 9.9 December 31, 2023 $ 325.7

Goodwill and Other Purchased In

Goodwill and Other Purchased Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Purchased Intangible Assets	3. GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS Changes to goodwill by segment were as follows (in millions): 2023 2022 Life Clinical Total Life Clinical Total Balances as of January 1: Goodwill $ 333.3 $ 408.4 $ 741.7 $ 333.3 $ 349.2 $ 682.5 Accumulated impairment losses and write-offs (41.8) (293.4) (335.2) (41.8) (293.4) (335.2) Goodwill, net 291.5 115.0 406.5 291.5 55.8 347.3 Acquisitions — 0.4 0.4 — 55.9 55.9 Foreign currency adjustments — 6.7 6.7 — 3.3 3.3 Period increase, net — 7.1 7.1 — 59.2 59.2 Balances as of December 31: Goodwill 333.3 415.5 748.8 333.3 408.4 741.7 Accumulated impairment losses and write-offs (41.8) (293.4) (335.2) (41.8) (293.4) (335.2) Goodwill, net $ 291.5 $ 122.1 $ 413.6 $ 291.5 $ 115.0 $ 406.5 Information regarding our identifiable purchased intangible assets with finite and indefinite lives is as follows (in millions): December 31, 2023 Weighted-Average Amortization Period (years) Purchase Accumulated Net Customer relationships/lists 5.2 $ 108.7 $ (98.9) $ 9.8 Know how 1.8 168.9 (161.1) 7.8 Developed product technology 12.0 217.8 (132.9) 84.9 Licenses 4.9 59.2 (42.4) 16.8 Tradenames 5.6 6.1 (4.7) 1.4 Covenants not to compete 2.3 6.4 (4.8) 1.6 Total finite-lived intangible assets 567.1 (444.8) 122.3 In-process research and development 198.2 — 198.2 Total purchased intangible assets $ 765.3 $ (444.8) $ 320.5 December 31, 2022 Weighted-Average Amortization Period (years) Purchase Accumulated Net Customer relationships/lists 5.0 $ 104.7 $ (89.9) $ 14.8 Know how 2.8 166.2 (153.9) 12.3 Developed product technology 12.8 211.1 (121.6) 89.5 Licenses 5.8 59.0 (38.5) 20.5 Tradenames 6.6 6.1 (4.5) 1.6 Covenants not to compete 3.1 6.4 (4.0) 2.4 Total finite-lived intangible assets 553.5 (412.4) 141.1 In-process research and development 191.0 — 191.0 Total purchased intangible assets $ 744.5 $ (412.4) $ 332.1 Amortization expense related to purchased intangible assets for the years ended December 31, 2023, 2022 and 2021 was $23.8 million, $24.9 million and $28.4 million, respectively. Estimated future amortization expense (based on existing purchased finite-lived intangible assets) for the years ending December 31, 2024, 2025, 2026, 2027, 2028 and thereafter is $21.3 million, $19.3 million, $14.4 million, $12.0 million, $12.0 million, and $43.3 million, respectively. No impairment losses related to goodwill and purchased intangibles were recorded in 2023 and 2022.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory	4. INVENTORY Following are the components of Inventory at December 31, 2023 and December 31, 2022 (in millions): December 31, 2023 December 31, 2022 Inventory: Raw materials $ 231.6 $ 228.8 Work in process 246.0 220.9 Finished goods 302.9 269.6 Total Inventory $ 780.5 $ 719.3

Property, Plant, and Equipment,

Property, Plant, and Equipment, Net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Net	5. PROPERTY, PLANT AND EQUIPMENT, NET Following are the components of Property, plant and equipment at December 31, 2023 and December 31, 2022 (in millions): December 31, 2023 December 31, 2022 Property, plant and equipment: Land and improvements $ 28.4 $ 27.8 Building and leasehold improvements 419.8 393.6 Equipment 1,147.5 1,086.6 Total property, plant and equipment 1,595.7 1,508.0 Less: accumulated depreciation and amortization (1,066.7) (1,009.4) Property, plant and equipment, net $ 529.0 $ 498.6

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Notes Payable and Long-Term Debt	6. NOTES PAYABLE AND LONG-TERM DEBT The principal components of long-term debt are as follows (in millions): December 31, 2023 December 31, 2022 3.3%, Senior Notes due 2027 $ 400.0 $ 400.0 3.7%, Senior Notes due 2032 800.0 800.0 Less unamortized discounts and debt issuance costs (10.5) (12.4) Long-term debt less unamortized discounts and debt issuance costs 1,189.5 1,187.6 Finance leases and other debt 10.1 10.6 Less current maturities (0.5) (0.5) Long-term debt $ 1,199.1 $ 1,197.7 Under domestic and international lines of credit, standby letters of credit and guarantee arrangements, we had $208.0 million available for borrowing and usage as of December 31, 2023, which was reduced by $4.3 million that was utilized for standby letters of credit and guarantee arrangements issued by our banks to support our obligations. Senior Notes due 2027 and 2032 In March 2022, pursuant to an indenture we issued $400.0 million in principal amount of Senior Notes due March 2027 (the “2027 Notes”) and $800.0 million in principal amount of Senior Notes due March 2032 (the “2032 Notes” and, together with the 2027 Notes, the “Notes”). The issuance of the 2027 Notes yielded net cash proceeds of $395.7 million at an effective rate of 3.5346% and the issuance of the 2032 Notes yielded net cash proceeds of $790.5 million at an effective rate of 3.8429%. The 2027 Notes and the 2032 Notes pay a fixed rate of interest of 3.3% and 3.7% per annum, respectively. Interest on the Notes is payable semi-annually in arrears on March 15 and September 15 of each year until the principal is paid or made available for payment. We have the option to redeem the Notes at any time, in whole or in part, at a redemption price calculated in accordance with the indenture, plus accrued and unpaid interest thereon to the redemption date. In the event of a change of control, the holders may require us to repurchase for cash all or a portion of their notes at a purchase price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any. Our obligations under the Notes are unsecured senior obligations that rank equally in right of payment with all of our other existing and future unsecured, unsubordinated debt. The Notes include covenants that limit our ability to, among other things, (i) grant specified liens, (ii) engage in specified sale and leaseback transactions, (iii) consolidate or merge with or into other companies or (iv) sell all or substantially all of our assets. We were in compliance with these covenants as of December 31, 2023. Credit Agreement In April 2019, Bio-Rad entered into a $200.0 million unsecured revolving credit facility ("Credit Agreement"). Borrowings under the Credit Agreement are on a revolving basis and can be used to make permitted acquisitions, for working capital and for other general corporate purposes. Since 2019, Bio-Rad entered into Amendments No. 1, 2, 3, and 4 (“Amendment”) to the Credit Agreement to add LIBOR replacement language, expand the definition of EBITDA, increase certain financial baskets, clarify the definitions of certain terms related to cash in the Leverage Ratio calculation, clarify the intended timing for the delivery of quarterly and annual financials and the related compliance certificates as required by the Credit Agreement, and to replace the reference interest borrowing rate from LIBOR to Term SOFR. We had no outstanding borrowings under the Credit Agreement as of December 31, 2023; however, $0.2 million was utilized for domestic standby letters of credit that reduced our borrowing availability as of December 31, 2023. The Credit Agreement matures in April 2024. If we had borrowed against our Credit Agreement, the borrowing rate would have been 6.698% at December 31, 2023, which is based on the 3-month LIBOR. 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 certain 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 and create liens. We were in compliance with all of these ratios and covenants as of December 31, 2023 and 2022. Maturities of finance leases and other debt at December 31, 2023 were as follows (in millions): 2024 $ 0.5 2025 0.5 2026 0.5 2027 400.5 2028 0.5 2029 and thereafter 807.6 Total Maturities of finance leases and other debt $ 1,210.1

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	7. INCOME TAXES The U.S. and international components of income before taxes are as follows (in millions): Year Ended December 31, 2023 2022 2021 U.S. $ (31.0) $ (2,403.4) $ 2,941.8 International (819.1) (2,300.9) 2,507.3 Income (loss) before taxes $ (850.1) $ (4,704.3) $ 5,449.1 The (benefit from) provision for income taxes consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Current tax expense: U.S. Federal $ 73.8 $ 112.8 $ 72.4 State 12.0 20.1 9.2 International 17.4 24.1 32.6 Current tax expense 103.2 157.0 114.2 Deferred tax (benefit) expense: U.S. Federal (291.7) (1,121.3) 983.5 State (15.7) (83.6) 69.3 International (15.2) (36.7) 32.1 Deferred tax expense (322.6) (1,241.6) 1,084.9 Non-current tax expense (benefit) 6.6 7.9 (4.3) (Benefit from) provision for income taxes $ (212.8) $ (1,076.7) $ 1,194.8 The reconciliation between our effective tax rate on income before taxes and the statutory tax rate is as follows: Year Ended December 31, 2023 2022 2021 U. S. statutory tax rate 21.0 % 21.0 % 21.0 % Impact of foreign operations (20.4) (10.0) (8.6) U.S. taxation of foreign income 23.8 10.5 8.9 State taxes 2.4 1.1 1.3 Other (1.8) 0.3 (0.7) (Benefit from) provision for income taxes 25.0 % 22.9 % 21.9 % On December 22, 2017, the U.S. enacted comprehensive tax legislation (the “Tax Act”). The Tax Act made broad and complex changes to the U.S. tax code, including the imposition of a one-time mandatory deemed repatriation tax (“Transition Tax”) on certain earnings accumulated offshore since 1986 and the reduction of the corporate tax rate from 35% to 21% for U.S. taxable income, resulting in a one-time remeasurement of U.S. federal deferred tax assets and liabilities. The Tax Act also amended Internal Revenue Code Section 174 requiring capitalization of research and experimentation expenditures. The capitalized expenses are amortized over a period of 5 or 15 years. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which includes an Alternative Minimum Tax based on the Adjusted Financial Statement Income of Applicable Corporations. We do not believe the Inflation Reduction Act will have a material impact on our income tax provision and cash taxes. We continue to monitor the developments in tax laws and regulations to evaluate their potential impact on our business. Our effective income tax rates were 25.0%, 22.9% and 21.9% for the years ended December 31, 2023, 2022 and 2021, respectively. The effective tax rates for the years ended December 31, 2023, 2022 and 2021 were primarily driven by the unrealized gain/loss in equity securities that was taxed at 22.3%, 22.5% and 22.4%, respectively, as well as the geographic mix of earnings. Many jurisdictions in which we operate have statutory tax rates that differ from the U.S. statutory tax rate of 21%. Our effective tax rate is impacted, either favorably or unfavorably, by many factors including, but not limited to the jurisdictional mix of income before tax, 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, 2023 2022 Deferred tax assets: Bad debt, inventory and warranty accruals $ 29.4 $ 30.8 Other post-employment benefits, vacation and other reserves 17.5 15.7 Tax credit and net operating loss carryforwards 126.4 128.2 Lease obligations 41.9 40.8 Other 48.8 53.2 Total gross deferred tax assets 264.0 268.7 Valuation allowance (53.2) (72.8) Total deferred tax assets 210.8 195.9 Deferred tax liabilities: Property and equipment 40.4 39.5 Lease assets 38.4 38.7 Investments and intangible assets 1,565.0 1,842.8 Total deferred tax liabilities 1,643.8 1,921.0 Net deferred tax liabilities $ (1,433.0) $ (1,725.1) The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. We regularly assess our ability to realize our deferred tax assets and establish a valuation allowance if it is more likely than not that some portion, or all, of our deferred tax assets will not be realized. In assessing the realizability of our deferred tax assets, we weigh all available positive and negative evidence. Due to the weight of objectively verifiable negative evidence, we believe that it is more likely than not that certain of our federal, state and foreign deferred tax assets will not be realized as of December 31, 2023, and have maintained a valuation allowance on such deferred tax assets. The valuation allowance for deferred tax assets is as follows (in millions): December 31, 2023 2022 2021 Beginning balance $ 72.8 $ 46.4 $ 44.6 Additions charged to expenses — 26.4 1.8 Deductions from reserves (19.6) — — Ending balance $ 53.2 $ 72.8 $ 46.4 As of December 31, 2023, our federal, state and foreign net operating loss carryforwards were approximately $18.2 million, $30.0 million and $301.4 million, respectively. Of our foreign net operating losses, $144.5 million may be carried forward indefinitely. The majority of the remaining foreign net operating losses, if not utilized, will begin to expire in 2024. Our federal and state net operating loss carryforwards, if not utilized, will begin to expire in 2028. As of December 31, 2023, our federal and state tax credit carryforwards were approximately $7.7 million and $74.6 million, respectively. Our federal tax credits, if not utilized, will begin to expire in 2029, and our state tax credits, generally, may be carried forward indefinitely. Federal and state tax laws impose restrictions on the utilization of net operating loss and certain tax credit carryforwards in the event of a change in our ownership as defined by the Internal Revenue Code Sections 382 and 383. Under Section 382 and 383 of the Internal Revenue Code, substantial changes in our ownership and the ownership of acquired companies may limit the amount of net operating loss and research and development credit carryforwards that are available to offset taxable income. The annual limitation would not automatically result in the loss of net operating loss or research and development credit carryforwards but may limit the amount available in any given future period. Our income tax returns are audited by U.S. federal, state and foreign tax authorities. We are currently under examination by many of these tax authorities. The tax years open to examination include the years 2012 and forward for the U.S. and certain foreign jurisdictions including France, Germany, India and Switzerland. There are differing interpretations of tax laws and regulations, and as a result, significant disputes may arise with these tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. We evaluate our exposures associated with our tax filing positions on a quarterly basis. We record liabilities for unrecognized tax benefits related to uncertain tax positions. We do not believe any currently pending uncertain tax positions will have a material adverse effect on our consolidated financial statements, although an adverse resolution of one or more of these uncertain tax positions in any period may have a material impact on the results of operations for that period. The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions): 2023 2022 2021 Unrecognized tax benefits – January 1 $ 85.5 $ 61.9 $ 55.8 Additions to tax positions related to prior years 0.2 18.1 3.2 Reductions to tax positions related to prior years (12.8) (0.2) (2.1) Additions to tax positions related to the current year 11.6 9.8 18.1 Settlements (0.2) (2.2) (2.4) Lapse of statute of limitations (0.9) (0.8) (10.8) Foreign currency adjustments 1.3 (1.1) 0.1 Unrecognized tax benefits – December 31 $ 84.7 $ 85.5 $ 61.9 We recognize accrued interest and penalties related to unrecognized tax benefits as income tax expense. Related to the unrecognized tax benefits noted above, the cumulative amount of accrued interest and penalties as of December 31, 2023, 2022 and 2021 was $9.6 million, $6.7 million and $11.8 million, respectively. We accrued interest and penalties of $2.8 million, $(1.1) million, and $(2.5) million for the years ended December 31, 2023, 2022, and 2021, respectively. The total unrecognized tax benefits and interest and penalties of $94.3 million as of December 31, 2023 was partially offset by deferred tax assets of $17.8 million and prepaid taxes of $2.7 million, for a net amount of $73.8 million. As of December 31, 2023, based on the expected outcome of certain examinations or as a result of the expiration of statutes of limitation for certain jurisdictions, we believe that within the next twelve months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $17.2 million. Substantially all such amounts will impact our effective income tax rate if recognized. It is generally our intention to repatriate certain foreign earnings to the extent that such repatriations are not restricted by local laws or accounting rules, and there are no substantial incremental costs. The determination of the amount of the unrecognized deferred tax liability for foreign earnings that are indefinitely reinvested is not practicable to estimate.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	8. 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 common stock participates equally in the earnings and losses of Bio-Rad, and each share is identical to the next in all respects except as follows. Class A common stock has limited voting rights compared to Class B. Each share of Class A is entitled to one tenth of a vote on most matters, whereas each share of Class B is always entitled to one vote. Additionally, Class A stockholders are entitled to elect 25% of the directors, with Class B stockholders electing the remaining directors. Cash dividends may be paid on Class A shares without paying a cash dividend on Class B shares. In contrast, 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 control over Bio-Rad. Changes to Bio-Rad's issued common stock shares are as follows (in thousands): Class A Shares Class B Shares Balance at January 1, 2021 25,073 5,076 Class B to Class A conversions 16 (16) Issuance of common stock 45 18 Balance at December 31, 2021 25,134 5,078 Class B to Class A conversions 20 (20) Issuance of common stock 8 16 Balance at December 31, 2022 25,162 5,074 Class B to Class A conversions 8 (8) Issuance of common stock — 30 Balance at December 31, 2023 25,170 5,096 Treasury Shares The share repurchase activity under the share repurchase programs through open market transactions for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: Number of Shares Purchased Weighted-Average Price per Share Total Shares Repurchased To Date Remaining Authorized Value March 1, 2021 - March 31, 2021 89,506 $ 558.60 663,083 $ 223.1 May 1, 2022 - May 31, 2022 255,284 $ 489.65 918,367 $ 98.1 November 1, 2022 - November 30, 2022 241,408 $ 375.63 1,159,775 $ 207.4 May 1, 2023 – May 31, 2023 549,863 $ 377.20 1,709,638 $ — September 1, 2023 – September 30, 2023 58,478 $ 364.61 1,768,116 $ 478.7 November 1, 2023 – November 30, 2023 659,416 $ 303.30 2,427,532 $ 278.7 For the years ended December 31, 2023 and 2022, we used 160,811 and 135,744, respectively, of the repurchased shares in connection with the vesting of restricted stock units and our Employee Stock Purchase Program. As of December 31, 2023, the Company had repurchased $650.0 million under the 2017 Share Repurchase Program, which completed the level of authorized purchases under that share repurchase program. In July 2023, the board of directors authorized a new share repurchase program ("2023 Share Repurchase Program") granting the Company authority to repurchase, on a discretionary basis, up to $500 million of the outstanding shares of the Company's common stock. As of December 31, 2023, $278.7 million remained available for repurchases under the 2023 Share Repurchase Program.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	9. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) included in our consolidated balance sheets and consolidated statements of changes in stockholders' equity consists of the following components (in millions): Foreign currency translation adjustments Foreign other post-employment benefits adjustments Net unrealized holding gains (losses) on available-for-sale investments Total Accumulated other comprehensive income (loss) Balances as of January 1, 2022 $ (170.5) $ (10.9) $ 5.8 $ (175.6) Other comprehensive (loss) income, before reclassifications (296.3) 25.4 (21.5) (292.4) Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 0.6 0.7 Income tax effects 0.3 (4.6) 4.8 0.5 Other comprehensive income (loss), net of income taxes (296.0) 20.9 (16.1) (291.2) Balances as of December 31, 2022 $ (466.5) $ 10.0 $ (10.3) $ (466.8) Other comprehensive income (loss), before reclassifications 132.9 (13.1) 13.4 133.2 Amounts reclassified from accumulated other comprehensive income (loss) — 0.7 1.2 1.9 Income tax effects (0.5) (0.4) (3.4) (4.3) Other comprehensive income (loss), net of income taxes 132.4 (12.8) 11.2 130.8 Balances as of December 31, 2023 $ (334.1) $ (2.8) $ 0.9 $ (336.0) All amounts reclassified out of accumulated other comprehensive income (loss) were reclassified into Other income, net in the consolidated statements of income (loss). Reclassification adjustments are calculated using the specific identification method.

Share-Based Compensation_Equity

Share-Based Compensation/Equity Awards and Purchase Plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation/Equity Awards and Purchase Plans	10. SHARE-BASED COMPENSATION/EQUITY AWARDS AND PURCHASE PLANS Equity Award Plan The 2017 Incentive Award Plan (2017 Plan) authorizes the grant of stock options, restricted stock, restricted stock units, performance-based stock units and other types of equity awards to officers and certain other employees. Stock options are granted at exercise prices not less than the fair market value of the underlying common stock on the date of grant and have a maximum term of 10 years. We may issue stock options for either Class A or Class B common stock. Prior to September 2020, equity awards granted vest in increments of 20% per year on the yearly anniversary date of the grant. Starting in September 2020, equity awards granted vest in increments of 25% per year on the yearly anniversary date of the grant. A total of 2,108,724 shares have been reserved for issuance of equity awards under the 2017 Plan and may be of either Class A or Class B common stock. At December 31, 2023, there were 1,112,483 shares available to be granted. Performance-based Stock awards Bio-Rad grants certain executive officers Performance-based stock unit (PSU) awards, which are administered under the 2017 Plan. PSUs generally vest over a three-year performance period based on achievement of specific performance goals. Based on the extent to which the targets are achieved, vested shares may range from zero to 200 percent of the target award. We consider the dilutive impact of PSUs in our diluted net income per share calculation only to the extent that the performance conditions would have been met if the reporting period was the end of the performance period. Employee Stock Purchase Plans Our 2011 Employee Stock Purchase Plan ("2011 ESPP" or "ESPP") provides that eligible employees may contribute up to the greater of 10% of their compensation or $25,000 annually towards 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. The Board of Directors have authorized the sale of 1,300,000 shares of Class A common stock under the 2011 ESPP. Share-Based Compensation Included in our share-based compensation expense is the cost related to stock option grants, ESPP stock purchases and restricted stock unit awards, including performance-based stock awards. Share-based compensation expense is allocated in the consolidated statements of income (loss) as follows (in millions): Year ended December 31, 2023 2022 2021 Cost of goods sold $ 6.1 $ 5.4 $ 4.9 Selling, general and administrative expense 43.9 45.6 38 Research and development expense 11.3 9.9 8.3 Share-based compensation expense $ 61.3 $ 60.9 $ 51.2 The income tax benefit related to share-based compensation expense was $9.8 million, $8.8 million and $7.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. We did not capitalize any share-based compensation expense as it was immaterial. The tax benefit from equity awards vested or exercised during the years ended December 31, 2023, 2022 and 2021 was $1.3 million, $4.0 million and $18.5 million, respectively. For equity awards, we amortize the grant date fair value on a straight-line basis over the requisite service periods of the awards, which are generally the vesting periods. We recognize forfeitures as they occur. Stock Options No stock options were granted during the years ended December 31, 2023 and 2022. The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions for the year ended December 31, 2021: Year Ended December 31, 2021 Expected volatility 27 % Risk-free interest rate 1.05 % Expected life (in years) 7.3 Expected dividend — Weighted-average fair value of options granted $ 251.93 Expected 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. The following table summarizes stock option activity: Shares Weighted- Weighted- Aggregate Outstanding, January 1, 2023 206,420 $ 270.03 Granted — $ — Exercised (108,350) $ 129.89 Forfeited (8,310) $ 579.93 Outstanding, December 31, 2023 89,760 $ 410.50 5.49 $ 2.3 Unvested, December 31, 2023 15,576 $ 583.87 6.76 $ 0.1 Exercisable, December 31, 2023 74,184 $ 374.10 5.22 $ 2.2 Intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The total intrinsic value on the date of exercise of stock options exercised during the years ended December 31, 2023, 2022 and 2021 was $20.2 million, $15.2 million and $33.0 million, respectively. No cash was received from stock options exercised during the year ended December 31, 2022. Cash received from stock options exercised during the year ended December 31, 2023 and 2021 amounted to $0.7 million and $3.6 million, respectively. As of December 31, 2023, there was $2.1 million of total unrecognized compensation expense from stock options. This amount is expected to be recognized in the future over a remaining weighted-average period of approximately one year. Restricted Stock Units - Service & Performance-based Restricted stock units are rights to receive shares of company stock. The fair value of a restricted stock unit is the market value as determined by the closing price of the stock on the day of grant. The following tables summarize restricted stock units and performance-based stock units activity: Restricted Stock Weighted- Weighted-Average Aggregate Outstanding, January 1, 2023 314,242 $ 516.85 Granted 193,937 $ 393.16 Vested (113,419) $ 485.12 Forfeited (50,167) $ 499.45 Outstanding, December 31, 2023 344,593 $ 460.22 1.78 $ 111.3 Performance-based Stock Units Weighted- Weighted-Average Aggregate Outstanding, January 1, 2023 11,391 $ 486.25 Granted 16,296 $ 366.47 Vested — $ — Forfeited (4,520) $ 427.84 Outstanding, December 31, 2023 23,167 $ 413.39 1.54 $ 7.5 The total fair value of restricted stock units and performance-based stock units vested for the years ended December 31, 2023, 2022 and 2021 was $44.7 million, $54.5 million and $104.4 million, respectively. As of December 31, 2023, there was approximately $138.1 million of total unrecognized compensation expense related to restricted stock units. This amount is expected to be recognized over a remaining weighted-average period of approximately three years. Employee Stock Purchase Plans The fair value of the employees’ purchase rights under the 2011 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions: Year Ended December 31, 2023 2022 2021 Expected volatility 35 % 41 % 25 % Risk-free interest rate 5.15 % 1.71 % 0.05 % Expected life (in years) 0.24 0.25 0.25 Expected dividend — — — Weighted-average fair value of purchase rights $ 90.11 $ 124.26 $ 127.16 The 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 56,985 shares for total employee contributions of $17.8 million, 44,480 shares for total employee contributions of $17.6 million and 31,639 shares for total employee contributions of $17.0 million under the 2011 ESPP to employees for the years ended December 31, 2023, 2022 and 2021, respectively. At December 31, 2023, 418,879 shares remain authorized and available for issuance under the 2011 ESPP.

Other Income, Net

Other Income, Net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Income, Net	11. OTHER INCOME, NET Other income, net includes the following components (in millions): Year Ended December 31, 2023 2022 2021 Interest and investment income $ (100.9) $ (58.0) $ (18.9) Net realized gains on investments (0.7) (2.3) (8.0) Other-than-temporary impairment losses on investments — 11.9 0.8 Current expected credit losses on loans to equity method investees — 7.5 — Gain on divestiture of a division — (1.4) — Escrow receipts on prior acquisition (2.5) — — Other income (2.3) (2.3) (0.7) Other income, net $ (106.4) $ (44.6) $ (26.8)

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	12. SUPPLEMENTAL CASH FLOW INFORMATION The reconciliation of net income (loss) to net cash provided by operating activities is as follows (in millions): Year Ended December 31, 2023 2022 2021 Net income (loss) $ (637.3) $ (3,627.5) $ 4,254.3 Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization 145.9 137.3 137.6 Reduction in the carrying amount of right-of-use assets 46.5 39.9 39.3 Share-based compensation 61.3 60.9 51.2 Other-than-temporary impairment losses on investments — 11.9 0.8 Current expected credit losses on loans — 7.5 — (Gains) losses from change in fair market value of equity securities and loan receivable 1,252.3 5,193.6 (4,926.2) Gain on divestiture of a division (2.5) (1.4) — Payments for operating lease liabilities (41.0) (38.1) (40.7) Changes in fair value of contingent consideration (18.1) — — (Increase) decrease in accounts receivable 11.4 (87.4) (20.4) (Increase) decrease in inventories (46.3) (158.8) 46.1 (Increase) decrease in other current assets 5.6 (27.3) (12.9) Increase (decrease) in accounts payable and other current liabilities (51.8) (94.2) 69.9 Decrease in income taxes payable (21.3) (1.2) (28.8) Increase (decrease) in deferred income taxes (322.6) (1,241.6) 1,084.9 Increase in other long-term assets (3.7) (5.1) (6.2) Increase (decrease) in other long-term liabilities (4.1) 5.6 10.5 Other 0.6 20.3 10.1 Net cash provided by operating activities $ 374.9 $ 194.4 $ 669.5 Non-cash investing activities: Purchased property, plant and equipment $ 6.9 $ 7.3 $ 5.2 Purchased marketable securities and investments $ 0.4 $ — $ 6.0

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	13. COMMITMENTS AND CONTINGENT LIABILITIES Deferred Profit Sharing Retirement Plan We have a profit sharing plan covering substantially all U.S. employees. Contributions are made at the discretion of management. As of December 31, 2023 and 2022, the liability related to the U.S. profit sharing plan was $1.9 million and $1.2 million, respectively. The contribution expense was $20.2 million, $19.1 million and $18.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Purchase Obligations As of December 31, 2023, we had purchase obligations that have not been recognized on our balance sheet of $122.6 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. Recognition of purchase obligations occurs when products or services are delivered to Bio-Rad, generally within Accounts payable or Other current liabilities. The annual future fixed and determinable portion of our purchase obligations that have not been recognized on our balance sheet as of December 31, 2023 were as follows in millions: 2024 $ 96.4 2025 24.3 2026 1.8 2027 0.1 2028 — 2029 and thereafter — Long-Term Liabilities As of December 31, 2023, we had obligations that have been recognized on our balance sheet of $121.7 million, which primarily represent long-term deferred revenue and other post-employment benefits. Excluded are tax liabilities for uncertain tax positions and contingencies. We are not able to reasonably estimate the timing of future cash flows of these tax liabilities, therefore, our income tax obligations are excluded. The annual future fixed and determinable portion of our obligations that have been recognized on our balance sheet as of December 31, 2023 were as follows in millions: 2024 $ 4.3 2025 29.8 2026 6.7 2027 4.8 2028 5.7 2029 and thereafter 70.4 Letters of Credit/Guarantees In the ordinary course of business, we are at times required to post letters of credit/guarantees. The letters of credit/guarantees are issued by financial institutions to guarantee our obligations to various parties. We were contingently liable for $4.3 million of standby letters of credit/guarantees with financial institutions as of December 31, 2023. Other Post-Employment Benefits In several foreign locations we are statutorily required to provide retirement benefits or a lump sum termination indemnity to our employees upon termination for virtually any reason. These plans are accounted for as defined benefit plans and the associated net benefit obligation as of December 31, 2023 and 2022 of $62.2 million and $46.8 million, respectively, has been included in Accrued payroll and employee benefits and Other long-term liabilities in the Consolidated Balance Sheets. Most plans are not required to be funded, and as such, there is no trust or other device used to accumulate assets or settle these obligations. However, some of these plans require funding based on local laws in which there is a trust or other device administered by an external plan manager that is used to accumulate assets to assist in settling these obligations. The following disclosures include such plans, which are located in France, Switzerland, Germany, Korea, India, Thailand, Italy, Dubai and Japan. Obligations and Funded Status The following table sets forth the change in benefit obligations, fair value of plan assets and amounts recognized in the Consolidated Balance Sheets for the plans (in millions): Change in benefit obligation: 2023 2022 Benefit obligation at beginning of year $ 129.2 $ 155.5 Service cost 5.4 6.6 Interest cost 3.4 0.8 Plan participants' contributions 3.3 3.1 Actuarial (gain) loss 14.0 (23.5) Gross benefits paid (1.0) 0.7 Plan amendments (0.7) (1.0) Acquisitions 2.5 — Settlements (10.6) (7.6) Foreign currency adjustments 8.9 (5.4) Benefit obligation at end of year 154.4 129.2 Change in plan assets: Fair value of plan assets at beginning year 82.4 79.4 Actual return on plan assets 1.7 1.5 Employer contributions 4.7 4.3 Plan participants' contributions 3.3 3.1 Gross benefits paid 0.3 2.8 Acquisitions 2.4 — Settlements (10.5) (7.6) Foreign currency adjustments 7.9 (1.1) Fair value of plan assets at end of year 92.2 82.4 Underfunded status of plans (62.2) (46.8) Amounts recognized in the consolidated balance sheets: Current liabilities (Accrued payroll and employee benefits) (2.7) (1.5) Noncurrent liabilities (Other long-term liabilities) (59.5) (45.3) Net liability, end of fiscal year $ (62.2) $ (46.8) Components of Net Periodic Benefit Cost The following sets forth the net periodic benefit cost (income) for the periods indicated (in millions): 2023 2022 2021 Service costs $ 5.4 $ 6.6 $ 8.0 Interest costs 3.4 0.8 0.5 Expected returns on plan assets (2.2) (1.0) (1.0) Amortization of actuarial losses (0.1) 0.3 1.8 Amortization of prior service costs (0.4) (0.3) — Curtailments — — (1.9) Settlements 1.3 (0.2) 1.2 Net periodic benefit costs $ 7.4 $ 6.2 $ 8.6 Assumptions The above actuarial net gains were primarily based on financial, demographic and experience assumptions. The weighted-average assumptions used in computing the benefit obligations were as follows: 2023 2022 Discount rate 2.0 % 2.6 % Compensation rate increase 1.8 % 1.7 % The weighted-average assumptions used in computing the net periodic benefit costs were as follows: 2023 2022 2021 Discount rate 2.5 % 0.6 % 0.3 % Expected long-term rate of return on plan assets 2.6 % 1.3 % 1.1 % The accumulated benefit obligation (ABO), an estimate based on the assumption if these plans were to be terminated immediately, as of December 31, 2023 and 2022 was $114.8 million and $114.9 million, respectively. The ABO and fair value of plan assets for these plans with ABO in excess of plan assets were $22.6 million and $32.5 million as of December 31, 2023 and 2022, respectively. In some foreign locations we have service award plans that are paid based upon the number of years of employment. Under these plans, the liability as of December 31, 2023 and 2022 was $2.4 million and $2.5 million, respectively, and has been included in Accrued payroll and employee benefits and Other long-term liabilities in the Consolidated Balance Sheets. Concentrations of Labor Subject to Collective Bargaining Agreements

Legal Proceedings

Legal Proceedings	12 Months Ended
	Dec. 31, 2023
Legal Proceedings [Abstract]
Legal Proceedings	14. LEGAL PROCEEDINGS

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	15. 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 12,000 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, and markets instruments, systems, reagents, and consumables used for biological research, biopharmaceutical production processes and food testing regimes. These products are sold to universities and medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology researchers, food producers and food testing laboratories. The Clinical Diagnostics segment designs, manufactures, markets and supports test systems, informatics systems, test kits and specialized quality controls that serve clinical laboratories in the global diagnostics market. These products are primarily sold to hospital laboratories, diagnostic reference laboratories, transfusion laboratories, and physician office laboratories. Other Operations represent a small miscellaneous operation from a prior acquisition, which was sold during 2023 with no material impact on the consolidated statements of income (loss). 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). Our chief operating decision maker ("CODM") views all operating expenses including depreciation and amortization and corporate overhead as directly supporting the strategies of our segments and these costs are fully allocated to our reportable segments. The CODM evaluates the performance of our segments and allocates resources primarily based on operating income, which represents revenues reduced by product costs and operating expenses. Information regarding industry segments at December 31, 2023, 2022, and 2021 and for the years then ended is as follows (in millions): Life Clinical Other Net sales 2023 $ 1,178.4 $ 1,489.3 $ 3.6 2022 1,347.2 1,451.0 4.0 2021 1,400.8 1,515.9 5.8 Depreciation and amortization 2023 $ 62.8 $ 83.1 $ — 2022 57.9 79.4 — 2021 54.8 82.8 — Operating profit (loss) 2023 $ 108.9 $ 229.6 $ (0.7) 2022 266.8 217.7 (1.9) 2021 319.7 181.8 (1.2) Segment assets 2023 $ 287.1 $ 493.1 $ 0.3 2022 269.9 448.8 0.6 2021 207.7 363.5 1.0 The following reconciles total operating profit to consolidated income (loss) before income taxes (in millions): Year Ended December 31, 2023 2022 2021 Total operating profit $ 337.8 $ 482.6 $ 500.3 Interest expense (49.3) (38.1) (1.5) Foreign currency exchange gains (losses), net 7.3 0.2 (2.7) Gains (losses) from change in fair market value of equity securities and loan receivable (1,252.3) (5,193.6) 4,926.2 Other income, net 106.4 44.6 26.8 Consolidated income (loss) before income taxes $ (850.1) $ (4,704.3) $ 5,449.1 The following reconciles total segment assets to consolidated total assets (in millions): December 31, 2023 2022 Total segment assets $ 780.5 $ 719.3 Cash, short-term investments and other current assets 2,267.8 2,438.7 Property, plant and equipment, net, and operating lease right-of-use assets 723.7 679.6 Goodwill, net 413.6 406.5 Other long-term assets 8,113.5 9,257.6 Total assets $ 12,299.1 $ 13,501.7 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, 2023 2022 2021 United States $ 1,121.9 $ 1,155.5 $ 1,130.6 Europe 819.8 851.9 946.9 Asia 563.0 639.4 688.4 Other (primarily Canada and Latin America) 166.6 155.4 156.6 Total net sales $ 2,671.3 $ 2,802.2 $ 2,922.5 The following presents Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions): December 31, 2023 2022 United States $ 477.3 $ 465.7 Europe 197.0 183.7 Asia 82.7 63.8 Other (primarily Canada and Latin America) 19.1 15.6 Total Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes $ 776.1 $ 728.8

Restructuring Costs

Restructuring Costs	12 Months Ended
	Dec. 31, 2023
Restructuring Costs [Abstract]
Restructuring Costs	16. RESTRUCTURING COSTS In February 2021, we announced our strategy-driven restructuring plan in furtherance of our ongoing program to improve operating performance. The restructuring plan primarily impacted our operations in EMEA and included the elimination of certain positions, the consolidation of certain functions, and the relocation of certain manufacturing operations from EMEA to APAC. The restructuring plan was implemented in phases and is substantially complete as of December 31, 2023. The timing of the remaining employee termination benefit payments is in accordance with statutory requirements. The adjustments to expense recorded were primarily due to changes in the estimates of employee termination benefits. From February 2021 to December 31, 2023, total restructuring-related expenses were $70.7 million. The following table summarizes the activity of our February 2021 plan restructuring reserves (in millions): 2023 2022 Life Science Clinical Diagnostics Total Life Science Clinical Diagnostics Total Balances as of January 1 $ 1.9 $ 29.7 $ 31.6 $ 5.2 $ 41.9 $ 47.1 Adjustment to expense — 2.1 2.1 1.1 3.1 4.2 Cash payments (1.7) (19.4) (21.1) (4.1) (12.7) (16.8) Foreign currency adjustments — 0.4 0.4 (0.3) (2.6) (2.9) Balances as of December 31 $ 0.2 $ 12.8 $ 13.0 $ 1.9 $ 29.7 $ 31.6 Management approved three new restructuring plans in February 2023, June 2023, and October 2023 to implement identified opportunities to further streamline and improve operating performance. Our February 2023 plan was implemented in phases and is substantially complete as of December 31, 2023. The timing of the remaining employee termination benefit payments is in accordance with statutory requirements. From February 2023 to December 31, 2023, total restructuring-related expenses were $14.2 million, representing estimated termination benefits to employees. The following table summarizes the activity of our February 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 2.7 11.5 14.2 Cash payments (1.8) (6.0) (7.8) Foreign currency adjustments 0.1 0.4 0.5 Balances as of December 31, 2023 $ 1.0 $ 5.9 $ 6.9 Our June 2023 restructuring plan is substantially complete as of December 31, 2023. The timing of the remaining employee termination benefit payments is in accordance with statutory requirements. From June 2023 to December 31, 2023, total restructuring-related expenses were $8.1 million, representing estimated termination benefits to employees. The following table summarizes the activity of our June 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 4.0 4.1 8.1 Cash payments (3.5) (2.9) (6.4) Foreign currency adjustments — 0.1 0.1 Balances as of December 31, 2023 $ 0.5 $ 1.3 $ 1.8 Our October 2023 restructuring plan is expected to be substantially complete in early 2024. From October 2023 to December 31, 2023, total restructuring-related expenses were $3.5 million, representing estimated termination benefits to employees. The following table summarizes the activity of our October 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 2.7 0.8 3.5 Cash payments (1.2) (0.3) (1.5) Foreign currency adjustments — 0.1 0.1 Balances as of December 31, 2023 $ 1.5 $ 0.6 $ 2.1 Combined, the liability of $23.8 million as of December 31, 2023 consisted of $22.9 million recorded in Accrued payroll and employee benefits and $0.9 million recorded in Other long-term liabilities in the consolidated balance sheets. Restructuring-related expense is allocated in the consolidated statements of income (loss) as follows (in millions): Year ended December 31, 2023 2022 2021 Cost of goods sold $ 3.9 $ 1.1 $ 25.0 Selling, general and administrative expense 17.5 3.0 26.1 Research and development expense 6.5 0.1 13.3 Restructuring expense $ 27.9 $ 4.2 $ 64.4

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	17. LEASES We have operating leases and to a lesser extent finance leases, for buildings, vehicles and equipment. Our leases have remaining lease terms of 1 year to 15 years, which includes our determination to exercise renewal options. The components of lease expense were as follows (in millions): Year Ended December 31, 2023 2022 2021 Operating lease cost $ 63.4 $ 57.5 $ 53.2 Finance lease cost: Amortization of right-to-use assets $ 0.4 $ 0.4 $ 0.5 Interest on lease liabilities 0.7 0.8 0.8 Total finance lease cost $ 1.1 $ 1.2 $ 1.3 Operating lease cost includes original reduction in the carrying amount of right-of-use assets, the impact of remeasurements, modifications, impairments and abandonments. Our short-term leases are expensed as incurred, reflecting leases with a lease term of one year or less, and are not significant for the years ended December 31, 2023, 2022 and 2021. Operating lease variable cost is primarily comprised of reimbursed actual common area maintenance, property taxes and insurance, which are immaterial for the years ended December 31, 2023, 2022 and 2021. Supplemental cash flow information related to leases were as follows (in millions): Year Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41.0 $ 38.1 $ 40.7 Operating cash flows from finance leases $ 0.7 $ 0.8 $ 0.8 Financing cash flows from finance leases $ 0.4 $ 0.4 $ 0.5 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 53.7 $ 21.2 $ 45.5 Finance leases $ — $ 0.1 $ — Supplemental balance sheet information related to leases were as follows (in millions): December 31, 2023 2022 Operating Leases Operating lease right-of-use assets $ 194.7 $ 181.0 Current operating lease liabilities $ 40.4 $ 36.3 Operating lease liabilities 165.5 153.6 Total operating lease liabilities $ 205.9 $ 189.9 Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt and notes payable, net of current maturities. December 31, 2023 2022 Finance Leases Property, plant and equipment, gross $ 11.9 $ 11.9 Less: accumulated depreciation and amortization (5.9) (5.5) Property, plant and equipment, net $ 6.0 $ 6.4 Current maturities of long-term debt and notes payable $ 0.5 $ 0.5 Long-term debt, net of current maturities 9.6 10.1 Total finance lease liabilities $ 10.1 $ 10.6 December 31, 2023 2022 Weighted Average Remaining Lease Term Operating leases - in years 7 7 Finance leases - in years 14 15 Weighted Average Discount Rate Operating leases 3.9 % 3.0 % Finance leases 6.4 % 6.3 % Maturities of lease liabilities were as follows (in millions): Year Ending December 31, Operating Leases Finance Leases 2024 $ 46.6 $ 1.2 2025 45.1 1.1 2026 33.3 1.1 2027 25.6 1.1 2028 20.2 1.1 Thereafter 65.5 10.8 Total lease payments 236.3 16.4 Less imputed interest (30.4) (6.3) Total $ 205.9 $ 10.1 The value of our operating lease portfolio is principally for facilities with longer durations than the lesser value vehicles and other equipment with shorter terms and higher-turn over. As of December 31, 2023, operating leases that have not commenced are not material.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	18. QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables provide unaudited condensed consolidated quarterly financial data for all of the periods in the years ended December 31, 2023 and 2022. Summarized quarterly financial data for the years ended December 31, 2023 and 2022 are as follows (in millions, except per share data): First Second Third Fourth 2023 Net sales $ 676.8 $ 681.1 $ 632.1 $ 681.2 Gross profit 362.4 362.5 335.7 366.3 Net income (loss) 69.0 (1,162.3) 106.3 349.7 Basic earnings (loss) per share 2.33 (39.59) 3.65 12.15 Diluted earnings (loss) per share 2.32 (39.59) 3.64 12.14 2022 Net sales $ 700.1 $ 691.1 $ 680.8 $ 730.3 Gross profit 402.6 395.0 372.6 397.1 Net income (loss) (3,367.3) (925.1) (162.8) 827.7 Basic earnings (loss) per share (112.50) (31.05) (5.48) 27.89 Diluted earnings (loss) per share (112.50) (31.05) (5.48) 27.78

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	19. SUBSEQUENT EVENTS

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ 349,700	$ 106,300	$ (1,162,300)	$ 69,000	$ 827,700	$ (162,800)	$ (925,100)	$ (3,367,300)	$ (637,324)	$ (3,627,535)	$ 4,254,257

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
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.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting periods. Bio-Rad bases its estimates on historical experience and on various other market-specific and other relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Such estimates include, but are not limited to, revenue recognition, the valuation of inventory, the valuation of acquired intangible assets, valuation of accounts receivable, estimation of warranty reserve, estimation of legal reserves, the recognition and measurement of current and deferred income tax assets and fair value measurement of the Loan receivable. Actual results could differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents
Short-term Restricted Investments	Short-term Restricted Investments Short-term restricted investments of $5.6 million at both December 31, 2023 and 2022 represent a money market fund that is provided as collateral to secure worker's compensation and general liability insurance.
Available-for-sale Investments	Available-for-Sale Investments Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities and U.S. government sponsored agencies. 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 (loss), net of any related tax effect. Realized gains and losses and other-than-temporary impairments on investments are included in Other income, net (see Note 11).
Concentration of Credit Risk	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, trade accounts receivable and loans receivable. Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions. 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. Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. We manage our accounts receivable credit risk through ongoing credit evaluation of our customers' financial conditions. We generally do not require collateral from our customers. Loans receivable represent the Loan extended to SHB and is collateralized by the pledge of certain trust interests under the Sartorius family trust ("Trust"), which upon termination of the Trust represent the right to receive Sartorius ordinary shares. The collateral is subject to market volatility based on fluctuation in value of the Sartorius ordinary shares.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses We record trade accounts receivable at the net invoice value and such receivables are non-interest bearing. We consider receivables past due based on the contractual payment terms. Amounts later determined and specifically identified to be uncollectible are charged or written off against the allowance for credit losses. Any adjustments made to our historical loss experience reflect current differences in asset-specific risk characteristics, including, for example, accounts receivable by customer type (public or government entity versus private entity) and by geographic location of the customer. Changes in our allowance for credit losses were as follows (in millions): December 31, 2023 2022 2021 Beginning balance $ 15.0 $ 15.1 $ 19.8 Provision for expected credit losses 0.5 1.7 1.4 Write-offs charged against the allowance (1.2) (1.9) (6.4) Recoveries collected 0.6 0.1 0.3 Ending balance $ 14.9 $ 15.0 $ 15.1
Inventory	Inventory Inventories are valued at the lower of cost and net realizable value and include material, labor and overhead costs. Cost is determined using standard costs, which approximate actual costs, and are relieved from inventory on a first-in, first-out or average cost basis. We classify our inventories based on our historical and anticipated levels of sales; any inventory in excess of its normal operating cycle (1 – 3 years depending on our product line) is classified as long-term on our consolidated balance sheets. The long-term inventory was immaterial as of December 31, 2023 and 2022.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. 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. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years. When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.
Internal-Use Software Development Costs	Internal-Use Software Development Costs Costs incurred in the development of internal use software during the application development stage are capitalized and included in Property, plant and equipment, net on the consolidated balance sheets. Such capitalized costs include costs directly associated with the development of the applications. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point the project is substantially complete and is ready for its intended purpose. Internal-use software is amortized on a straight-line basis over the estimated useful life of between 3-5 years. Costs incurred during the preliminary project stage, as well as maintenance and training costs, are expensed as incurred.
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use (“ROU”) assets, Current operating lease liabilities, and Operating lease liabilities in our consolidated balance sheets. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt, net of current maturities in our consolidated balance sheets.
Intangible Assets	Intangible Assets Our intangible assets principally include goodwill, acquired technology / know how, license, tradenames, customer relationships, and in-process research and development. Intangible assets with finite lives, which include acquired technology / know how, tradenames, licenses and customer relationships, are carried at cost and amortized using the straight-line method over their estimated useful lives. The estimated useful lives used in computing amortization of intangible assets are as follows: Customer relationships/lists 4 – 16 years Know how 14 years Developed product technology 2 – 20 years Licenses 12 – 13 years Tradenames 6 – 10 years Covenants not to compete 3 – 10 years Intangible assets with indefinite lives, which include only goodwill and in-process research and development assets, are recorded at cost and evaluated at least annually for impairment.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We review long-lived assets, such as property, plant and equipment and finite-lived intangible assets, for impairment whenever events indicate that the carrying amounts might not be recoverable. Recoverability of property, plant and equipment, and other finite-lived intangible assets are measured by comparing the projected undiscounted net cash flows associated with those assets to their carrying values. If an asset is considered impaired, it is written down to its fair value, which is determined based on the asset's projected discounted cash flows or appraised value, depending on the nature of the asset. For purposes of recognition of impairment for assets held for use, we group assets and liabilities at the lowest level for which cash flows are separately identifiable. There were no impairments of finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021.
Impairment of Goodwill and Indefinite-Lived Intangible Assets	Impairment of Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. We conduct an impairment analysis for goodwill annually in the fourth quarter or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business. Significant judgments are involved in determining if an indicator of impairment has occurred. Such indicators may include deterioration in general economic conditions, negative developments in equity and credit markets, adverse changes in the markets in which an entity operates, increases in input costs that have a negative effect on earnings and cash flows, or a trend of negative or declining cash flows over multiple periods, among others. The fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill. We first may assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test included in U.S. GAAP. To the extent our assessment identifies adverse conditions, or if we elect to bypass the qualitative assessment, goodwill is tested at the reporting unit level using a quantitative impairment test. We determined that there are two reporting units, which are the same as our operating segments namely Life Science and Clinical Diagnostics. We generally estimate the fair value of the reporting units in goodwill impairment assessments using an income approach, which includes an analysis of the future cash flows expected to be generated and the risk associated with achieving such cash flows. This approach requires significant management judgment including the discount rate that is applied to the discretely forecasted future cash flows to calculate the present value of those cash flows and the estimate of future cash flows attributable to the reporting unit. Actual results may differ from management’s estimates. We elected to perform a quantitative assessment of goodwill during the fourth quarter of 2023 and concluded that the fair value of the reporting units exceeded the carrying amount and that goodwill is not impaired. There were no impairments for the years ended December 31, 2023, 2022 and 2021. Impairment of Indefinite-Lived Intangible Assets
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 net operating losses, tax 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 such temporary 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 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. 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 We recognize revenue from operations through the sale of products, services, license of intellectual property and rental of instruments. Revenue from contracts with customers is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Revenue is recognized net of any taxes collected from customers (sales tax, value added tax, etc.), which are subsequently remitted to government authorities. We enter into contracts that can include various combinations of products and services, which are generally accounted for as distinct performance obligations. A product or service is considered distinct if it is separately identifiable from other deliverables in the arrangement and if a customer can benefit from such product or service on its own or with other resources that are readily available to the customer. The transaction consideration is allocated between separate performance obligations of an arrangement based on the stand-alone selling price (“SSP”) for each distinct product or service. We recognize revenue from product sales at the point in time when we have satisfied our performance obligation by transferring control of the product to the customer. We use judgment to evaluate whether and when control has transferred and consider the right to payment, legal title, physical possession, risks and rewards of ownership, and customer acceptance if it is not a formality, as indicators to determine the transfer of control to the customer. For products that include installation, the product and installation are separate performance obligations. The product revenue is recognized when control has transferred to the customer, generally upon delivery, and installation service revenue is recognized when the product installation is completed. Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement as a stand-ready performance obligation. For arrangements that include a combination of products and services, the transaction price is allocated to each performance obligation based on stand-alone selling prices. The method used to determine the stand-alone selling prices for product and service revenues is based on the observable prices when the product or services have been sold separately. We recognize revenues for a functional license of intellectual property at a point in time when the control of the license and technology transfers to the customer. For license agreements that include sales or usage-based royalty payments to us, we recognize revenue at the later of (i) when the related sale of the product occurs, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied. The primary purpose of our invoicing terms is to provide customers with simple and predictable methods of purchasing our products and services, not to either provide or receive financing to or from our customers. We record contract liabilities when cash payments are received or due in advance of our performance. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Our payment terms vary by the type and location of our customer, and the products and services offered. The term between invoicing and when payment is due is not significant.
Revenue Recognition, Leases	In addition, we offer a reagent rental program which provides our customers the ability to use an instrument and consumables (reagents) on a per test basis. These agreements may also include maintenance of the instruments placed at customer locations as well as initial training. We initially determine if a reagent rental arrangement contains a lease at contract commencement. Where we have determined that such an arrangement contains a lease, we then determine the lease classification. Our reagent rental arrangements are predominantly classified as operating leases and any sales-type leases have historically been immaterial and we do not enter into direct finance leases. We concluded that the use of the instrument (referred to as “lease elements”) in our reagent rental agreements is not governed by the revenue recognition guidance of ASC 606 but instead is addressed by the lease guidance in ASC 842. Accordingly, we first allocate the transaction price between the lease elements and the non-lease elements based on relative standalone selling prices. Our reagent rental arrangements are predominantly comprised of variable lease payments that fluctuate depending on the volume of reagents purchased, as such arrangements generally do not contain any fixed or minimum lease payments. Maintenance services and reagent sales are allocated to the non-lease elements and recognized as income over time as control is transferred. Maintenance services are recognized ratably over the period whereas reagents revenue is recognized upon transfer of control when either (i) the consumables are delivered or (ii) the consumables are consumed by the customer. Revenue attributed to the lease elements of our reagent rental arrangements represented approximately 3% of total revenue in 2023, 3% of total revenue in 2022 and 2% of total revenue in 2021. Such revenue forms part of the Net sales in our consolidated statements of income (loss). Contract costs: As a practical expedient, we expense as incurred costs to obtain contracts as the amortization period would have been one year or less. These costs include our internal sales force and certain partner sales incentive programs and are recorded within Selling, general and administrative expense in our consolidated statements of income (loss). Disaggregation of Revenue:
Revenue Recognition, Deferred Revenue	Deferred revenues primarily represent unrecognized fees billed or collected for extended service arrangements including installation services. The deferred revenue balance at December 31, 2023 and December 31, 2022 was $68.3 million and $71.9 million, respectively. The short-term deferred revenue balance at December 31, 2023 and December 31, 2022 was $51.1 million and $52.2 million, respectively.
Warranty	We warrant certain equipment against defects in design, materials and workmanship, generally for a period of one year. We estimate the cost of warranties at the time the related revenue is recognized based on historical experience, specific warranty terms and customer feedback. These costs are recorded within Cost of goods sold in our consolidated statements of income (loss). Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions): 2023 2022 2021 January 1 $ 10.6 $ 12.7 $ 9.8 Provision for warranty 9.3 8.8 14.8 Actual warranty costs (11.5) (10.9) (11.9) December 31 $ 8.4 $ 10.6 $ 12.7
Shipping and Handling	Shipping and Handling We classify all freight costs billed to customers as Net sales. Related freight costs are recognized upon transfer of control of the promised products to customers as a fulfillment cost and included in Cost of goods sold.
Research and Development	Research and Development
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 currency exchange (gains) losses, net in the consolidated statements of income (loss). 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.
Share-based Compensation Plans	Share-Based Compensation Plans Share-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value. We recognize these compensation costs over the requisite service period of the award, which is generally the vesting term of the share-based payment awards. Forfeitures are recognized as they occur. These plans are described more fully in Note 10.
Earnings (Loss) Per Share	Earnings (Loss) Per Share We compute net income (loss) per share of Class A Common Stock (Class A) and Class B Common Stock (Class B) using the two-class method required for participating securities. Our participating securities include Class A and Class B. Each share of Class A and Class B participates equally in earnings and losses, but may not participate equally in dividend distributions. No dividends were distributed or declared during any of the periods presented. Earnings (loss) is attributable equally to each share of Class A and Class B common stock and is determined based on the weighted average number of the respective class of common stock outstanding for the year. Accordingly, basic earnings (loss) per share is computed by dividing net income (loss) 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, restricted stock and performance 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 (loss) per share calculation if the effect of including such securities would be anti-dilutive. The weighted average number of common shares outstanding used to calculate basic and diluted earnings (loss) per share, and the anti-dilutive shares that are excluded from the diluted earnings (loss) per share calculation are as follows (in thousands): Year Ended December 31, 2023 2022 2021 Basic weighted average shares common outstanding 29,209 29,785 29,831 Effect of potentially dilutive stock options, restricted stock and performance stock awards — — 377 Diluted weighted average common shares outstanding 29,209 29,785 30,208 Anti-dilutive shares 212 325 33
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, 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 2).
Variable Interest Entities	Variable Interest Entities We enter into relationships with or make investments in other entities that may be variable interest entities ("VIE"). A VIE is consolidated in the financial statements if we are the primary beneficiary. The primary beneficiary has the power to direct activities that most significantly impact the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. In 2021, we extended a loan to a VIE, Sartorius-Herbst Beteiligungen II GmbH ("SHB"), a private limited company incorporated under the laws of Germany (See Note 2). We have not consolidated this entity because we do not have the power to direct the activities that most significantly impact the VIE’s economic performance related to repayment of the loan or cash management of the SHB and, thus, we are not considered the primary beneficiary of the VIE. We believe that our maximum exposure to loss as a result of our involvement with the VIE is limited to the receivable due to us from the VIE under the terms of the loan.
Equity Method Investments	Equity Investments Investments in publicly traded companies in which we do not have the ability to exercise significant influence are reported at fair value, with unrealized gains and losses reported as a component of (gains) losses from change in fair market value of equity securities and loan receivable in our consolidated statements of income (loss). Companies in which we do not have a controlling financial interest, but over which we have significant influence, are accounted for using the equity method. Our share of the after-tax earnings of equity method investees is included in Other income, net in our consolidated statements of income (loss) . Investments in privately held companies in which we do not have the ability to exercise significant influence are accounted for using the cost method with adjustments for observable changes in price or impairments (see Note 2). We monitor our relationships with investees when changes occur that could affect whether we have the ability to exercise significant influence.
Recent Accounting Pronouncements to be Adopted	Recent Accounting Pronouncements to be Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, “Improvements to Reportable Segment Disclosures.” The ASU includes enhanced disclosure requirements, primarily related to significant segment expenses that are regularly provided to and used by the chief operating decision maker (CODM). The amendments are to be applied retrospectively to all prior periods presented in the financial statements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We are currently evaluating the effect of adopting this pronouncement on our financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The ASU includes enhanced disclosure requirements, primarily related to the rate reconciliation and income taxes paid information. The amendments are to be applied prospectively in the financial statements. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the effect of adopting this pronouncement on our financial statements and disclosures.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Product Warranty Liability		Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions): 2023 2022 2021 January 1 $ 10.6 $ 12.7 $ 9.8 Provision for warranty 9.3 8.8 14.8 Actual warranty costs (11.5) (10.9) (11.9) December 31 $ 8.4 $ 10.6 $ 12.7
Schedule of Weighted Average Number of Shares		The weighted average number of common shares outstanding used to calculate basic and diluted earnings (loss) per share, and the anti-dilutive shares that are excluded from the diluted earnings (loss) per share calculation are as follows (in thousands): Year Ended December 31, 2023 2022 2021 Basic weighted average shares common outstanding 29,209 29,785 29,831 Effect of potentially dilutive stock options, restricted stock and performance stock awards — — 377 Diluted weighted average common shares outstanding 29,209 29,785 30,208 Anti-dilutive shares 212 325 33
Accounts Receivable, Allowance for Credit Loss		Changes in our allowance for credit losses were as follows (in millions): December 31, 2023 2022 2021 Beginning balance $ 15.0 $ 15.1 $ 19.8 Provision for expected credit losses 0.5 1.7 1.4 Write-offs charged against the allowance (1.2) (1.9) (6.4) Recoveries collected 0.6 0.1 0.3 Ending balance $ 14.9 $ 15.0 $ 15.1
Schedule of Error Corrections and Prior Period Adjustments

Fair Value Measurements and I_2

Fair Value Measurements and Investments (Tables)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2023 are classified in the hierarchy as follows (in millions): Level 1 Level 2 Level 3 Total Financial assets carried at fair value: Cash equivalents: Commercial paper $ — $ 12.5 $ — $ 12.5 Time deposits — 36.6 — 36.6 U.S. government sponsored agencies — 7.0 — 7.0 Money market funds 28.0 — — 28.0 Total cash equivalents (a) 28.0 56.1 — 84.1 Restricted investments (b) 7.1 — — 7.1 Equity Securities (c) 7,399.3 — — 7,399.3 Loan under the fair value option (d) — — 325.7 325.7 Available-for-sale investments: Corporate debt securities — 531.6 — 531.6 U.S. government sponsored agencies — 255.9 — 255.9 Foreign government obligations — 12.7 — 12.7 Municipal obligations — 12.1 — 12.1 Asset-backed securities — 323.7 — 323.7 Total available-for-sale investments (e) — 1,136.0 — 1,136.0 Forward foreign exchange contracts (f) — 4.1 — 4.1 Total financial assets carried at fair value $ 7,434.4 $ 1,196.2 $ 325.7 $ 8,956.3 Financial liabilities carried at fair value: Forward foreign exchange contracts (g) $ — $ 11.7 $ — $ 11.7 Contingent consideration (h) — — 17.5 17.5 Total financial liabilities carried at fair value $ — $ 11.7 $ 17.5 $ 29.2 Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2022 are classified in the hierarchy as follows (in millions): Level 1 Level 2 Level 3 Total Financial assets carried at fair value: Cash equivalents: Commercial paper $ — $ 21.1 $ — $ 21.1 Time deposits 5.7 — — 5.7 Asset-backed securities — 1.4 — 1.4 U.S. government sponsored agencies — 6.0 — 6.0 Money market funds 31.5 — — 31.5 Total cash equivalents (a) 37.2 28.5 — 65.7 Restricted investments (b) 6.8 — — 6.8 Equity securities (c) 8,530.4 — — 8,530.4 Loan under the fair value option (d) — — 322.6 322.6 Available-for-sale investments: Corporate debt securities — 699.3 — 699.3 U.S. government sponsored agencies — 230.7 — 230.7 Foreign government obligations — 13.5 — 13.5 Municipal obligations — 23.1 — 23.1 Asset-backed securities — 333.4 — 333.4 Total available-for-sale investments (e) — 1,300.0 — 1,300.0 Forward foreign exchange contracts (f) — 1.5 — 1.5 Total financial assets carried at fair value $ 8,574.4 $ 1,330.0 $ 322.6 $ 10,227.0 Financial liabilities carried at fair value: Forward foreign exchange contracts (g) $ — $ 6.2 $ — $ 6.2 Contingent consideration (h) — — 35.6 35.6 Total financial liabilities carried at fair value $ — $ 6.2 $ 35.6 $ 41.8 (a) Cash equivalents are included in Cash and cash equivalents in the consolidated balance sheets. (b) Restricted investments are included in the following accounts in the consolidated balance sheets (in millions): December 31, 2023 December 31, 2022 Restricted investments $ 5.6 $ 5.6 Other investments 1.5 1.2 Total $ 7.1 $ 6.8 (c) Equity securities are included in the following accounts in the consolidated balance sheets (in millions): December 31, 2023 December 31, 2022 Short-term investments $ 67.2 $ 56.5 Other investments 7,332.1 8,473.9 Total $ 7,399.3 $ 8,530.4 (d) The Loan under the fair value option is included in Other investments in the consolidated balance sheets. (e) Available-for-sale investments are included in Short-term investments in the consolidated balance sheets. (f) Forward foreign exchange contracts in an asset position are included in Other current assets in the consolidated balance sheets. (g) Forward foreign exchange contracts in a liability position are included in Other current liabilities in the consolidated balance sheets. (h) Contingent considerations in a liability position are included in Other long-term liabilities in the consolidated balance sheets. The changes in the fair value of contingent consideration included in Research and development expense and Selling, general and administrative expense amounted to $14.0 million and $4.1 million in the consolidated statements of income (loss) for the year ended December 31, 2023, respectively. No conditions triggering payment of the contingent consideration were met as of December 31, 2023.
Debt Securities, Available-for-sale [Table Text Block]	Available-for-sale investments consist of the following (in millions): December 31, 2023 Amortized Unrealized Unrealized Allowances for Credit Losses Estimated Short-term investments: Corporate debt securities $ 534.1 $ 0.8 $ (3.3) — $ 531.6 Municipal obligations 12.2 — (0.1) — 12.1 Asset-backed securities 325.7 0.7 (2.7) — 323.7 U.S. government sponsored agencies 257.4 0.1 (1.6) — 255.9 Foreign government obligations 12.8 — (0.1) — 12.7 $ 1,142.2 $ 1.6 $ (7.8) $ — $ 1,136.0	Available-for-sale investments consist of the following (in millions): December 31, 2022 Amortized Unrealized Unrealized Estimated Short-term investments: Corporate debt securities $ 709.9 $ 0.2 $ (10.8) $ 699.3 Municipal obligations 23.4 — (0.3) 23.1 Asset-backed securities 339.6 0.1 (6.3) 333.4 U.S. government sponsored agencies 233.9 — (3.2) 230.7 Foreign government obligations 13.8 — (0.3) 13.5 Total $ 1,320.6 $ 0.3 $ (20.9) $ 1,300.0
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, 2023 by contractual maturity date (in millions): Amortized Estimated Fair Mature in less than one year $ 450.9 $ 448.2 Mature in one to five years 558.6 556.6 Mature in more than five years 132.7 131.2 Total $ 1,142.2 $ 1,136.0
Summary of investments with gross unrealized losses and the associated fair value	As of December 31, 2023 there were no significant continuous unrealized losses greater than 12 months.
Schedule of Derivative Instruments [Table Text Block]	The following is a summary of our forward foreign currency exchange contracts (in millions): December 31, 2023 Contracts maturing in January through March 2024 to sell foreign currency: Notional value $ 873.5 Unrealized gain/(loss) $ (8.1) Contracts maturing in January through March 2024 to purchase foreign currency: Notional value $ 133.6 Unrealized gain/(loss) $ 0.5
Debt Securities, Trading, and Equity Securities, FV-NI	The following table provides a reconciliation of the Level 3 Loan measured at estimated fair value (in millions): December 31, 2022 $ 322.6 Net decrease in estimated fair market value of the loan included in Gains (losses) in fair market value of equity securities and loan receivable (6.8) Foreign currency adjustments gains (losses), net 9.9 December 31, 2023 $ 325.7
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The carrying value and fair value of our long-term debt were as follows (in millions): December 31, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Senior notes $ 1,189.5 $ 1,102.5 $ 1,187.6 $ 1,056.0 Other long-term debt 9.6 9.6 10.1 10.1 Total $ 1,199.1 $ 1,112.1 $ 1,197.7 $ 1,066.1

Goodwill and Other Purchased _2

Goodwill and Other Purchased Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Changes to goodwill by segment	Changes to goodwill by segment were as follows (in millions): 2023 2022 Life Clinical Total Life Clinical Total Balances as of January 1: Goodwill $ 333.3 $ 408.4 $ 741.7 $ 333.3 $ 349.2 $ 682.5 Accumulated impairment losses and write-offs (41.8) (293.4) (335.2) (41.8) (293.4) (335.2) Goodwill, net 291.5 115.0 406.5 291.5 55.8 347.3 Acquisitions — 0.4 0.4 — 55.9 55.9 Foreign currency adjustments — 6.7 6.7 — 3.3 3.3 Period increase, net — 7.1 7.1 — 59.2 59.2 Balances as of December 31: Goodwill 333.3 415.5 748.8 333.3 408.4 741.7 Accumulated impairment losses and write-offs (41.8) (293.4) (335.2) (41.8) (293.4) (335.2) Goodwill, net $ 291.5 $ 122.1 $ 413.6 $ 291.5 $ 115.0 $ 406.5
Schedule of Finite-Lived Intangible Assets by Major-Class	Information regarding our identifiable purchased intangible assets with finite and indefinite lives is as follows (in millions): December 31, 2023 Weighted-Average Amortization Period (years) Purchase Accumulated Net Customer relationships/lists 5.2 $ 108.7 $ (98.9) $ 9.8 Know how 1.8 168.9 (161.1) 7.8 Developed product technology 12.0 217.8 (132.9) 84.9 Licenses 4.9 59.2 (42.4) 16.8 Tradenames 5.6 6.1 (4.7) 1.4 Covenants not to compete 2.3 6.4 (4.8) 1.6 Total finite-lived intangible assets 567.1 (444.8) 122.3 In-process research and development 198.2 — 198.2 Total purchased intangible assets $ 765.3 $ (444.8) $ 320.5 December 31, 2022 Weighted-Average Amortization Period (years) Purchase Accumulated Net Customer relationships/lists 5.0 $ 104.7 $ (89.9) $ 14.8 Know how 2.8 166.2 (153.9) 12.3 Developed product technology 12.8 211.1 (121.6) 89.5 Licenses 5.8 59.0 (38.5) 20.5 Tradenames 6.6 6.1 (4.5) 1.6 Covenants not to compete 3.1 6.4 (4.0) 2.4 Total finite-lived intangible assets 553.5 (412.4) 141.1 In-process research and development 191.0 — 191.0 Total purchased intangible assets $ 744.5 $ (412.4) $ 332.1

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Following are the components of Inventory at December 31, 2023 and December 31, 2022 (in millions): December 31, 2023 December 31, 2022 Inventory: Raw materials $ 231.6 $ 228.8 Work in process 246.0 220.9 Finished goods 302.9 269.6 Total Inventory $ 780.5 $ 719.3

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Following are the components of Property, plant and equipment at December 31, 2023 and December 31, 2022 (in millions): December 31, 2023 December 31, 2022 Property, plant and equipment: Land and improvements $ 28.4 $ 27.8 Building and leasehold improvements 419.8 393.6 Equipment 1,147.5 1,086.6 Total property, plant and equipment 1,595.7 1,508.0 Less: accumulated depreciation and amortization (1,066.7) (1,009.4) Property, plant and equipment, net $ 529.0 $ 498.6

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Principal components of long-term debt	The principal components of long-term debt are as follows (in millions): December 31, 2023 December 31, 2022 3.3%, Senior Notes due 2027 $ 400.0 $ 400.0 3.7%, Senior Notes due 2032 800.0 800.0 Less unamortized discounts and debt issuance costs (10.5) (12.4) Long-term debt less unamortized discounts and debt issuance costs 1,189.5 1,187.6 Finance leases and other debt 10.1 10.6 Less current maturities (0.5) (0.5) Long-term debt $ 1,199.1 $ 1,197.7
Schedule of Maturities of Long-Term Debt	Maturities of finance leases and other debt at December 31, 2023 were as follows (in millions): 2024 $ 0.5 2025 0.5 2026 0.5 2027 400.5 2028 0.5 2029 and thereafter 807.6 Total Maturities of finance leases and other debt $ 1,210.1

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 U.S. $ (31.0) $ (2,403.4) $ 2,941.8 International (819.1) (2,300.9) 2,507.3 Income (loss) before taxes $ (850.1) $ (4,704.3) $ 5,449.1
Provision for income taxes [Table Text Block]	The (benefit from) provision for income taxes consists of the following (in millions): Year Ended December 31, 2023 2022 2021 Current tax expense: U.S. Federal $ 73.8 $ 112.8 $ 72.4 State 12.0 20.1 9.2 International 17.4 24.1 32.6 Current tax expense 103.2 157.0 114.2 Deferred tax (benefit) expense: U.S. Federal (291.7) (1,121.3) 983.5 State (15.7) (83.6) 69.3 International (15.2) (36.7) 32.1 Deferred tax expense (322.6) (1,241.6) 1,084.9 Non-current tax expense (benefit) 6.6 7.9 (4.3) (Benefit from) provision for income taxes $ (212.8) $ (1,076.7) $ 1,194.8
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, 2023 2022 2021 U. S. statutory tax rate 21.0 % 21.0 % 21.0 % Impact of foreign operations (20.4) (10.0) (8.6) U.S. taxation of foreign income 23.8 10.5 8.9 State taxes 2.4 1.1 1.3 Other (1.8) 0.3 (0.7) (Benefit from) provision for income taxes 25.0 % 22.9 % 21.9 %
Significant components of deferred tax assets and liabilities [Table Text Block]	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, 2023 2022 Deferred tax assets: Bad debt, inventory and warranty accruals $ 29.4 $ 30.8 Other post-employment benefits, vacation and other reserves 17.5 15.7 Tax credit and net operating loss carryforwards 126.4 128.2 Lease obligations 41.9 40.8 Other 48.8 53.2 Total gross deferred tax assets 264.0 268.7 Valuation allowance (53.2) (72.8) Total deferred tax assets 210.8 195.9 Deferred tax liabilities: Property and equipment 40.4 39.5 Lease assets 38.4 38.7 Investments and intangible assets 1,565.0 1,842.8 Total deferred tax liabilities 1,643.8 1,921.0 Net deferred tax liabilities $ (1,433.0) $ (1,725.1)
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): 2023 2022 2021 Unrecognized tax benefits – January 1 $ 85.5 $ 61.9 $ 55.8 Additions to tax positions related to prior years 0.2 18.1 3.2 Reductions to tax positions related to prior years (12.8) (0.2) (2.1) Additions to tax positions related to the current year 11.6 9.8 18.1 Settlements (0.2) (2.2) (2.4) Lapse of statute of limitations (0.9) (0.8) (10.8) Foreign currency adjustments 1.3 (1.1) 0.1 Unrecognized tax benefits – December 31 $ 84.7 $ 85.5 $ 61.9
Summary of Valuation Allowance	The valuation allowance for deferred tax assets is as follows (in millions): December 31, 2023 2022 2021 Beginning balance $ 72.8 $ 46.4 $ 44.6 Additions charged to expenses — 26.4 1.8 Deductions from reserves (19.6) — — Ending balance $ 53.2 $ 72.8 $ 46.4

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class [Table Text Block]	Changes to Bio-Rad's issued common stock shares are as follows (in thousands): Class A Shares Class B Shares Balance at January 1, 2021 25,073 5,076 Class B to Class A conversions 16 (16) Issuance of common stock 45 18 Balance at December 31, 2021 25,134 5,078 Class B to Class A conversions 20 (20) Issuance of common stock 8 16 Balance at December 31, 2022 25,162 5,074 Class B to Class A conversions 8 (8) Issuance of common stock — 30 Balance at December 31, 2023 25,170 5,096
Class of Treasury Stock [Table Text Block]	The share repurchase activity under the share repurchase programs through open market transactions for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: Number of Shares Purchased Weighted-Average Price per Share Total Shares Repurchased To Date Remaining Authorized Value March 1, 2021 - March 31, 2021 89,506 $ 558.60 663,083 $ 223.1 May 1, 2022 - May 31, 2022 255,284 $ 489.65 918,367 $ 98.1 November 1, 2022 - November 30, 2022 241,408 $ 375.63 1,159,775 $ 207.4 May 1, 2023 – May 31, 2023 549,863 $ 377.20 1,709,638 $ — September 1, 2023 – September 30, 2023 58,478 $ 364.61 1,768,116 $ 478.7 November 1, 2023 – November 30, 2023 659,416 $ 303.30 2,427,532 $ 278.7

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) included in our consolidated balance sheets and consolidated statements of changes in stockholders' equity consists of the following components (in millions): Foreign currency translation adjustments Foreign other post-employment benefits adjustments Net unrealized holding gains (losses) on available-for-sale investments Total Accumulated other comprehensive income (loss) Balances as of January 1, 2022 $ (170.5) $ (10.9) $ 5.8 $ (175.6) Other comprehensive (loss) income, before reclassifications (296.3) 25.4 (21.5) (292.4) Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 0.6 0.7 Income tax effects 0.3 (4.6) 4.8 0.5 Other comprehensive income (loss), net of income taxes (296.0) 20.9 (16.1) (291.2) Balances as of December 31, 2022 $ (466.5) $ 10.0 $ (10.3) $ (466.8) Other comprehensive income (loss), before reclassifications 132.9 (13.1) 13.4 133.2 Amounts reclassified from accumulated other comprehensive income (loss) — 0.7 1.2 1.9 Income tax effects (0.5) (0.4) (3.4) (4.3) Other comprehensive income (loss), net of income taxes 132.4 (12.8) 11.2 130.8 Balances as of December 31, 2023 $ (334.1) $ (2.8) $ 0.9 $ (336.0)

Share-Based Compensation_Equi_2

Share-Based Compensation/Equity Awards and Purchase Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock Options Activity	The following table summarizes stock option activity: Shares Weighted- Weighted- Aggregate Outstanding, January 1, 2023 206,420 $ 270.03 Granted — $ — Exercised (108,350) $ 129.89 Forfeited (8,310) $ 579.93 Outstanding, December 31, 2023 89,760 $ 410.50 5.49 $ 2.3 Unvested, December 31, 2023 15,576 $ 583.87 6.76 $ 0.1 Exercisable, December 31, 2023 74,184 $ 374.10 5.22 $ 2.2
Stock Options Valuation Assumptions	No stock options were granted during the years ended December 31, 2023 and 2022. The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions for the year ended December 31, 2021: Year Ended December 31, 2021 Expected volatility 27 % Risk-free interest rate 1.05 % Expected life (in years) 7.3 Expected dividend — Weighted-average fair value of options granted $ 251.93
Resticted Stock Activity	The following tables summarize restricted stock units and performance-based stock units activity: Restricted Stock Weighted- Weighted-Average Aggregate Outstanding, January 1, 2023 314,242 $ 516.85 Granted 193,937 $ 393.16 Vested (113,419) $ 485.12 Forfeited (50,167) $ 499.45 Outstanding, December 31, 2023 344,593 $ 460.22 1.78 $ 111.3 Performance-based Stock Units Weighted- Weighted-Average Aggregate Outstanding, January 1, 2023 11,391 $ 486.25 Granted 16,296 $ 366.47 Vested — $ — Forfeited (4,520) $ 427.84 Outstanding, December 31, 2023 23,167 $ 413.39 1.54 $ 7.5
Employee Stock Purchase Plan, Valuation Assumptions	The fair value of the employees’ purchase rights under the 2011 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions: Year Ended December 31, 2023 2022 2021 Expected volatility 35 % 41 % 25 % Risk-free interest rate 5.15 % 1.71 % 0.05 % Expected life (in years) 0.24 0.25 0.25 Expected dividend — — — Weighted-average fair value of purchase rights $ 90.11 $ 124.26 $ 127.16
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Share-based compensation expense is allocated in the consolidated statements of income (loss) as follows (in millions): Year ended December 31, 2023 2022 2021 Cost of goods sold $ 6.1 $ 5.4 $ 4.9 Selling, general and administrative expense 43.9 45.6 38 Research and development expense 11.3 9.9 8.3 Share-based compensation expense $ 61.3 $ 60.9 $ 51.2

Other Income, Net (Tables)

Other Income, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of other income (expense), net	Other income, net includes the following components (in millions): Year Ended December 31, 2023 2022 2021 Interest and investment income $ (100.9) $ (58.0) $ (18.9) Net realized gains on investments (0.7) (2.3) (8.0) Other-than-temporary impairment losses on investments — 11.9 0.8 Current expected credit losses on loans to equity method investees — 7.5 — Gain on divestiture of a division — (1.4) — Escrow receipts on prior acquisition (2.5) — — Other income (2.3) (2.3) (0.7) Other income, net $ (106.4) $ (44.6) $ (26.8)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The reconciliation of net income (loss) to net cash provided by operating activities is as follows (in millions): Year Ended December 31, 2023 2022 2021 Net income (loss) $ (637.3) $ (3,627.5) $ 4,254.3 Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization 145.9 137.3 137.6 Reduction in the carrying amount of right-of-use assets 46.5 39.9 39.3 Share-based compensation 61.3 60.9 51.2 Other-than-temporary impairment losses on investments — 11.9 0.8 Current expected credit losses on loans — 7.5 — (Gains) losses from change in fair market value of equity securities and loan receivable 1,252.3 5,193.6 (4,926.2) Gain on divestiture of a division (2.5) (1.4) — Payments for operating lease liabilities (41.0) (38.1) (40.7) Changes in fair value of contingent consideration (18.1) — — (Increase) decrease in accounts receivable 11.4 (87.4) (20.4) (Increase) decrease in inventories (46.3) (158.8) 46.1 (Increase) decrease in other current assets 5.6 (27.3) (12.9) Increase (decrease) in accounts payable and other current liabilities (51.8) (94.2) 69.9 Decrease in income taxes payable (21.3) (1.2) (28.8) Increase (decrease) in deferred income taxes (322.6) (1,241.6) 1,084.9 Increase in other long-term assets (3.7) (5.1) (6.2) Increase (decrease) in other long-term liabilities (4.1) 5.6 10.5 Other 0.6 20.3 10.1 Net cash provided by operating activities $ 374.9 $ 194.4 $ 669.5 Non-cash investing activities: Purchased property, plant and equipment $ 6.9 $ 7.3 $ 5.2 Purchased marketable securities and investments $ 0.4 $ — $ 6.0

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Components of Net Periodic Benefit Cost The following sets forth the net periodic benefit cost (income) for the periods indicated (in millions): 2023 2022 2021 Service costs $ 5.4 $ 6.6 $ 8.0 Interest costs 3.4 0.8 0.5 Expected returns on plan assets (2.2) (1.0) (1.0) Amortization of actuarial losses (0.1) 0.3 1.8 Amortization of prior service costs (0.4) (0.3) — Curtailments — — (1.9) Settlements 1.3 (0.2) 1.2 Net periodic benefit costs $ 7.4 $ 6.2 $ 8.6
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]	Obligations and Funded Status The following table sets forth the change in benefit obligations, fair value of plan assets and amounts recognized in the Consolidated Balance Sheets for the plans (in millions): Change in benefit obligation: 2023 2022 Benefit obligation at beginning of year $ 129.2 $ 155.5 Service cost 5.4 6.6 Interest cost 3.4 0.8 Plan participants' contributions 3.3 3.1 Actuarial (gain) loss 14.0 (23.5) Gross benefits paid (1.0) 0.7 Plan amendments (0.7) (1.0) Acquisitions 2.5 — Settlements (10.6) (7.6) Foreign currency adjustments 8.9 (5.4) Benefit obligation at end of year 154.4 129.2 Change in plan assets: Fair value of plan assets at beginning year 82.4 79.4 Actual return on plan assets 1.7 1.5 Employer contributions 4.7 4.3 Plan participants' contributions 3.3 3.1 Gross benefits paid 0.3 2.8 Acquisitions 2.4 — Settlements (10.5) (7.6) Foreign currency adjustments 7.9 (1.1) Fair value of plan assets at end of year 92.2 82.4 Underfunded status of plans (62.2) (46.8) Amounts recognized in the consolidated balance sheets: Current liabilities (Accrued payroll and employee benefits) (2.7) (1.5) Noncurrent liabilities (Other long-term liabilities) (59.5) (45.3) Net liability, end of fiscal year $ (62.2) $ (46.8)
Defined Benefit Plan, Assumptions [Table Text Block]	Assumptions The above actuarial net gains were primarily based on financial, demographic and experience assumptions. The weighted-average assumptions used in computing the benefit obligations were as follows: 2023 2022 Discount rate 2.0 % 2.6 % Compensation rate increase 1.8 % 1.7 % The weighted-average assumptions used in computing the net periodic benefit costs were as follows: 2023 2022 2021 Discount rate 2.5 % 0.6 % 0.3 % Expected long-term rate of return on plan assets 2.6 % 1.3 % 1.1 %
Unrecorded Unconditional Purchase Obligations Disclosure	The annual future fixed and determinable portion of our purchase obligations that have not been recognized on our balance sheet as of December 31, 2023 were as follows in millions: 2024 $ 96.4 2025 24.3 2026 1.8 2027 0.1 2028 — 2029 and thereafter —
Recorded Unconditional Purchase Obligations	The annual future fixed and determinable portion of our obligations that have been recognized on our balance sheet as of December 31, 2023 were as follows in millions: 2024 $ 4.3 2025 29.8 2026 6.7 2027 4.8 2028 5.7 2029 and thereafter 70.4

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Information regarding industry segments	Information regarding industry segments at December 31, 2023, 2022, and 2021 and for the years then ended is as follows (in millions): Life Clinical Other Net sales 2023 $ 1,178.4 $ 1,489.3 $ 3.6 2022 1,347.2 1,451.0 4.0 2021 1,400.8 1,515.9 5.8 Depreciation and amortization 2023 $ 62.8 $ 83.1 $ — 2022 57.9 79.4 — 2021 54.8 82.8 — Operating profit (loss) 2023 $ 108.9 $ 229.6 $ (0.7) 2022 266.8 217.7 (1.9) 2021 319.7 181.8 (1.2) Segment assets 2023 $ 287.1 $ 493.1 $ 0.3 2022 269.9 448.8 0.6 2021 207.7 363.5 1.0
Reconciliation of segment profit to consolidated income before taxes	The following reconciles total operating profit to consolidated income (loss) before income taxes (in millions): Year Ended December 31, 2023 2022 2021 Total operating profit $ 337.8 $ 482.6 $ 500.3 Interest expense (49.3) (38.1) (1.5) Foreign currency exchange gains (losses), net 7.3 0.2 (2.7) Gains (losses) from change in fair market value of equity securities and loan receivable (1,252.3) (5,193.6) 4,926.2 Other income, net 106.4 44.6 26.8 Consolidated income (loss) before income taxes $ (850.1) $ (4,704.3) $ 5,449.1
Reconciliation of Assets from Segment to Consolidated	The following reconciles total segment assets to consolidated total assets (in millions): December 31, 2023 2022 Total segment assets $ 780.5 $ 719.3 Cash, short-term investments and other current assets 2,267.8 2,438.7 Property, plant and equipment, net, and operating lease right-of-use assets 723.7 679.6 Goodwill, net 413.6 406.5 Other long-term assets 8,113.5 9,257.6 Total assets $ 12,299.1 $ 13,501.7
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, 2023 2022 2021 United States $ 1,121.9 $ 1,155.5 $ 1,130.6 Europe 819.8 851.9 946.9 Asia 563.0 639.4 688.4 Other (primarily Canada and Latin America) 166.6 155.4 156.6 Total net sales $ 2,671.3 $ 2,802.2 $ 2,922.5 The following presents Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions): December 31, 2023 2022 United States $ 477.3 $ 465.7 Europe 197.0 183.7 Asia 82.7 63.8 Other (primarily Canada and Latin America) 19.1 15.6 Total Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes $ 776.1 $ 728.8

Restructuring Costs (Tables)

Restructuring Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The following table summarizes the activity of our February 2021 plan restructuring reserves (in millions): 2023 2022 Life Science Clinical Diagnostics Total Life Science Clinical Diagnostics Total Balances as of January 1 $ 1.9 $ 29.7 $ 31.6 $ 5.2 $ 41.9 $ 47.1 Adjustment to expense — 2.1 2.1 1.1 3.1 4.2 Cash payments (1.7) (19.4) (21.1) (4.1) (12.7) (16.8) Foreign currency adjustments — 0.4 0.4 (0.3) (2.6) (2.9) Balances as of December 31 $ 0.2 $ 12.8 $ 13.0 $ 1.9 $ 29.7 $ 31.6 Management approved three new restructuring plans in February 2023, June 2023, and October 2023 to implement identified opportunities to further streamline and improve operating performance. Our February 2023 plan was implemented in phases and is substantially complete as of December 31, 2023. The timing of the remaining employee termination benefit payments is in accordance with statutory requirements. From February 2023 to December 31, 2023, total restructuring-related expenses were $14.2 million, representing estimated termination benefits to employees. The following table summarizes the activity of our February 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 2.7 11.5 14.2 Cash payments (1.8) (6.0) (7.8) Foreign currency adjustments 0.1 0.4 0.5 Balances as of December 31, 2023 $ 1.0 $ 5.9 $ 6.9 Our June 2023 restructuring plan is substantially complete as of December 31, 2023. The timing of the remaining employee termination benefit payments is in accordance with statutory requirements. From June 2023 to December 31, 2023, total restructuring-related expenses were $8.1 million, representing estimated termination benefits to employees. The following table summarizes the activity of our June 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 4.0 4.1 8.1 Cash payments (3.5) (2.9) (6.4) Foreign currency adjustments — 0.1 0.1 Balances as of December 31, 2023 $ 0.5 $ 1.3 $ 1.8 Our October 2023 restructuring plan is expected to be substantially complete in early 2024. From October 2023 to December 31, 2023, total restructuring-related expenses were $3.5 million, representing estimated termination benefits to employees. The following table summarizes the activity of our October 2023 plan restructuring reserves (in millions): Life Science Clinical Diagnostics Total Balances as of January 1, 2023 $ — $ — $ — Charged to expense - employee termination benefits 2.7 0.8 3.5 Cash payments (1.2) (0.3) (1.5) Foreign currency adjustments — 0.1 0.1 Balances as of December 31, 2023 $ 1.5 $ 0.6 $ 2.1 Combined, the liability of $23.8 million as of December 31, 2023 consisted of $22.9 million recorded in Accrued payroll and employee benefits and $0.9 million recorded in Other long-term liabilities in the consolidated balance sheets. Restructuring-related expense is allocated in the consolidated statements of income (loss) as follows (in millions): Year ended December 31, 2023 2022 2021 Cost of goods sold $ 3.9 $ 1.1 $ 25.0 Selling, general and administrative expense 17.5 3.0 26.1 Research and development expense 6.5 0.1 13.3 Restructuring expense $ 27.9 $ 4.2 $ 64.4

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows (in millions): Year Ended December 31, 2023 2022 2021 Operating lease cost $ 63.4 $ 57.5 $ 53.2 Finance lease cost: Amortization of right-to-use assets $ 0.4 $ 0.4 $ 0.5 Interest on lease liabilities 0.7 0.8 0.8 Total finance lease cost $ 1.1 $ 1.2 $ 1.3
Lessee Supplemental Cash Flow Information [Table Text Block]	Supplemental cash flow information related to leases were as follows (in millions): Year Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41.0 $ 38.1 $ 40.7 Operating cash flows from finance leases $ 0.7 $ 0.8 $ 0.8 Financing cash flows from finance leases $ 0.4 $ 0.4 $ 0.5 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 53.7 $ 21.2 $ 45.5 Finance leases $ — $ 0.1 $ —
Lessee Supplemental Balance Sheet Information [Table Text Block]	Supplemental balance sheet information related to leases were as follows (in millions): December 31, 2023 2022 Operating Leases Operating lease right-of-use assets $ 194.7 $ 181.0 Current operating lease liabilities $ 40.4 $ 36.3 Operating lease liabilities 165.5 153.6 Total operating lease liabilities $ 205.9 $ 189.9 Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt and notes payable, net of current maturities. December 31, 2023 2022 Finance Leases Property, plant and equipment, gross $ 11.9 $ 11.9 Less: accumulated depreciation and amortization (5.9) (5.5) Property, plant and equipment, net $ 6.0 $ 6.4 Current maturities of long-term debt and notes payable $ 0.5 $ 0.5 Long-term debt, net of current maturities 9.6 10.1 Total finance lease liabilities $ 10.1 $ 10.6 December 31, 2023 2022 Weighted Average Remaining Lease Term Operating leases - in years 7 7 Finance leases - in years 14 15 Weighted Average Discount Rate Operating leases 3.9 % 3.0 % Finance leases 6.4 % 6.3 %
Maturities Of Lease Liabilities For Operating and Finance Leases [Table Text Block]	Maturities of lease liabilities were as follows (in millions): Year Ending December 31, Operating Leases Finance Leases 2024 $ 46.6 $ 1.2 2025 45.1 1.1 2026 33.3 1.1 2027 25.6 1.1 2028 20.2 1.1 Thereafter 65.5 10.8 Total lease payments 236.3 16.4 Less imputed interest (30.4) (6.3) Total $ 205.9 $ 10.1

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Data		Summarized quarterly financial data for the years ended December 31, 2023 and 2022 are as follows (in millions, except per share data): First Second Third Fourth 2023 Net sales $ 676.8 $ 681.1 $ 632.1 $ 681.2 Gross profit 362.4 362.5 335.7 366.3 Net income (loss) 69.0 (1,162.3) 106.3 349.7 Basic earnings (loss) per share 2.33 (39.59) 3.65 12.15 Diluted earnings (loss) per share 2.32 (39.59) 3.64 12.14 2022 Net sales $ 700.1 $ 691.1 $ 680.8 $ 730.3 Gross profit 402.6 395.0 372.6 397.1 Net income (loss) (3,367.3) (925.1) (162.8) 827.7 Basic earnings (loss) per share (112.50) (31.05) (5.48) 27.89 Diluted earnings (loss) per share (112.50) (31.05) (5.48) 27.78
Schedule of Error Corrections and Prior Period Adjustments

Significant Accounting Polici_4

Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Restricted investments	$ 5,560	$ 5,560
Retained earnings	9,260,629	9,898,203
Other assets	94,850	94,599
Prepaid Taxes	2,700
Benefit from (Provision for) income taxes	212,780	1,076,738	$ (1,194,798)
Purchased intangibles, net	$ 320,514	$ 332,147
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. 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. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years. When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.
Minimum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member] | Reagent Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Minimum [Member] | Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Software Development
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	50 years
Maximum [Member] | Reagent Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] | Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	12 years
Maximum [Member] | Software Development
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

Significant Accounting Polici_5

Significant Accounting Policies - Amortization of Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. 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. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years. When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.
Minimum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	4 years
Minimum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years
Minimum [Member] | License
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	12 years
Minimum [Member] | Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years
Minimum [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	16 years
Maximum [Member] | Technology-Based Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years
Maximum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] | License
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	13 years
Maximum [Member] | Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Maximum [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

Significant Accounting Polici_6

Significant Accounting Policies - Warranty rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty accrual, beginning of period	$ 10.6	$ 12.7	$ 9.8
Provision for warranty	9.3	8.8	14.8
Actual warranty costs	(11.5)	(10.9)	(11.9)
Warranty accrual, end of period	$ 8.4	$ 10.6	$ 12.7

Significant Accounting Polici_7

Significant Accounting Policies - Earnings per share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Basic weighted average shares outstanding	29,209	29,785	29,831
Effect of potentially dilutive stock options and restricted stock awards	0	0	377
Weighted average common shares - diluted	29,209	29,785	30,208
Anti-dilutive shares excluded from the computation of diluted EPS	212	325	33

Significant Accounting Polici_8

Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Cost of goods sold	$ 1,244,316	$ 1,234,919	$ 1,284,449
Retained earnings	$ 9,260,629	$ 9,898,203
Revenue Allocation Percent To Lease Elements	3%	3%	2%
Deferred Revenue	$ 68,300	$ 71,900
Deferred revenue	$ 51,100	$ 52,200

Significant Accounting Polici_9

Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ 14,926	$ 15,029	$ 15,100	$ 19,800
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)	500	1,700	1,400
Accounts Receivable, Allowance for Credit Loss, Writeoff	(1,200)	(1,900)	(6,400)
Accounts Receivable, Allowance for Credit Loss, Recovery	600	100	$ 300
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	0
Goodwill, Impairment Loss	$ 0	$ 0
Revenue Allocation Percent To Lease Elements	3%	3%	2%

Fair Value Measurements and I_3

Fair Value Measurements and Investments (Details) € in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2023 USD ($)		Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Trading, and Equity Securities, FV-NI		$ 325.7	[1]	$ 322.6	[1]		€ 400
Debt Securities, Available-for-sale	[2]	1,136
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		(18.1)		0		$ 0
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Equity Securities, FV-NI, Unrealized Loss		$ (1,259.4)
Derivative, Forward Interest Rate		1.50%					1.50%
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value	[3]	$ 7.1		6.8
Equity Securities, FV-NI	[4]	7,399.3		8,530.4
Debt Securities, Trading, and Equity Securities, FV-NI	[1]	325.7		322.6
Debt Securities, Available-for-sale		1,136		1,300
Forward foreign exchange contracts, Asset	[5]	4.1		1.5
Financial Assets Carried at Fair Value		8,956.3		10,227
Forward foreign exchange contracts, Liability	[6]	11.7		6.2
Business Combination, Contingent Consideration, Liability	[7]	17.5		35.6
Liabilities, Fair Value Disclosure		29.2		41.8
Fair Value, Recurring [Member] | Research and Development Expense [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		14
Fair Value, Recurring [Member] | Selling, General and Administrative Expenses [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		4.1
Fair Value, Recurring [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	323.7		333.4
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	531.6		699.3
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	255.9		230.7
Fair Value, Recurring [Member] | Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.7		13.5
Fair Value, Recurring [Member] | Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.1		23.1
Fair Value, Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	12.5		21.1
Fair Value, Recurring [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	36.6		5.7
Fair Value, Recurring [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]			1.4
Fair Value, Recurring [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	28		31.5
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	7		6
Fair Value, Recurring [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	84.1		65.7
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value	[3]	7.1		6.8
Equity Securities, FV-NI	[4]	7,399.3		8,530.4
Debt Securities, Trading, and Equity Securities, FV-NI	[1]	0		0
Debt Securities, Available-for-sale		0		0
Forward foreign exchange contracts, Asset	[5]	0		0
Financial Assets Carried at Fair Value		7,434.4		8,574.4
Forward foreign exchange contracts, Liability	[6]	0		0
Business Combination, Contingent Consideration, Liability	[7]	0		0
Liabilities, Fair Value Disclosure		0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	0		5.7
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]			0
Fair Value, Recurring [Member] | 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	[8]	28		31.5
Fair Value, Recurring [Member] | 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	[8]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	28		37.2
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value	[3]	0		0
Equity Securities, FV-NI	[4]	0		0
Debt Securities, Trading, and Equity Securities, FV-NI	[1]	0		0
Debt Securities, Available-for-sale		1,136		1,300
Forward foreign exchange contracts, Asset	[5]	4.1		1.5
Financial Assets Carried at Fair Value		1,196.2		1,330
Forward foreign exchange contracts, Liability	[6]	11.7		6.2
Business Combination, Contingent Consideration, Liability	[7]	0		0
Liabilities, Fair Value Disclosure		11.7		6.2
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	323.7		333.4
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	531.6		699.3
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	255.9		230.7
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.7		13.5
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.1		23.1
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	12.5		21.1
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	36.6		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]			1.4
Fair Value, Recurring [Member] | 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	[8]	0		0
Fair Value, Recurring [Member] | 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	[8]	7		6
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	56.1		28.5
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value	[3]	0		0
Equity Securities, FV-NI	[4]	0		0
Debt Securities, Trading, and Equity Securities, FV-NI	[1]	325.7		322.6
Debt Securities, Available-for-sale		0		0
Forward foreign exchange contracts, Asset	[5]	0		0
Financial Assets Carried at Fair Value		325.7		322.6
Forward foreign exchange contracts, Liability	[6]	0		0
Business Combination, Contingent Consideration, Liability	[7]	17.5		35.6
Liabilities, Fair Value Disclosure		17.5		35.6
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]			0
Fair Value, Recurring [Member] | 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	[8]	0		0
Fair Value, Recurring [Member] | 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	[8]	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[8]	0		0
Fair value of Appreciation rights
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Investment Owned, Unrecognized Unrealized Depreciation		31.3
Short-term Investments [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI		67.2		56.5
Short-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	323.7		333.4
Short-term Investments [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	531.6		699.3
Short-term Investments [Member] | Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	255.9		230.7
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.7		13.5
Short-term Investments [Member] | Fair Value, Recurring [Member] | Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	12.1		23.1
Short-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[2]	1,136		1,300
Other Investments [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value		1.5		1.2
Equity Securities, FV-NI		7,332.1		8,473.9
Restricted investment | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value		$ 5.6		$ 5.6
[1]The Loan under the fair value option is included in Other investments in the consolidated balance sheets.[2]Available-for-sale investments are included in Short-term investments in the consolidated balance sheets.[3]Restricted investments are included in the following accounts in the consolidated balance sheets (in millions): December 31, 2023 December 31, 2022 Restricted investments $ 5.6 $ 5.6 Other investments 1.5 1.2 Total $ 7.1 $ 6.8 December 31, 2023 December 31, 2022 Short-term investments $ 67.2 $ 56.5 Other investments 7,332.1 8,473.9 Total $ 7,399.3 $ 8,530.4

Fair Value Measurements and I_4

Fair Value Measurements and Investments Foreign Exchange Forward Contracts (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	[1],[2]
Forward foreign exchange contract to purchase foreign currency [Member]
Derivatives, Fair Value [Line Items]
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments	$ 0.5
Derivative, Notional Amount	133.6
Forward foreign exchange contract to sell foreign currency [Member]
Derivatives, Fair Value [Line Items]
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments	(8.1)
Derivative, Notional Amount	$ 873.5
[1]Forward foreign exchange contracts in a liability position are included in Other current liabilities in the consolidated balance sheets.[2]Forward foreign exchange contracts in an asset position are included in Other current assets in the consolidated balance sheets.

Fair Value Measurements and I_5

Fair Value Measurements and Investments Available-for-Sale Investments (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	$ 1,136
Debt Securities, Available-for-sale, Amortized Cost	[1]	1,142.2
Fair Value, Recurring [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale		1,136	$ 1,300
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	531.6	699.3
Fair Value, Recurring [Member] | Municipal Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	12.1	23.1
Fair Value, Recurring [Member] | Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	323.7	333.4
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	255.9	230.7
Fair Value, Recurring [Member] | Foreign Government Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	12.7	13.5
Short-term Investments [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	531.6	699.3
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(3.3)	(10.8)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	0.8	0.2
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	534.1	709.9
Short-term Investments [Member] | Fair Value, Recurring [Member] | Municipal Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	12.1	23.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(0.1)	(0.3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	12.2	23.4
Short-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	323.7	333.4
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(2.7)	(6.3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	0.7	0.1
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	325.7	339.6
Short-term Investments [Member] | Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	255.9	230.7
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(1.6)	(3.2)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	0.1	0
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	257.4	233.9
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	12.7	13.5
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(0.1)	(0.3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	12.8	13.8
Short-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale	[1]	1,136	1,300
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]	(7.8)	(20.9)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]	1.6	0.3
Debt Securities, Available-for-sale, Allowance for Credit Loss	[1]	0
Debt Securities, Available-for-sale, Amortized Cost	[1]	$ 1,142.2	$ 1,320.6
[1]Available-for-sale investments are included in Short-term investments in the consolidated balance sheets.

Fair Value Measurements and I_6

Fair Value Measurements and Investments Amortized Cost and Fair Value of Debt Securities (Details) $ in Millions	Dec. 31, 2023 USD ($)	[1]
Fair Value Disclosures [Abstract]
Mature in less than one year	$ 450.9
Mature in one to five years	558.6
Mature in more than five years	132.7
Total Amortized Cost	1,142.2
Mature in less than one year	448.2
Mature in one to five years	556.6
Mature in more than five years	131.2
Estimated Fair Value	$ 1,136
[1]Available-for-sale investments are included in Short-term investments in the consolidated balance sheets.

Fair Value Measurements and I_7

Fair Value Measurements and Investments Fair Value and Gross Unrealized Losses with Unrealized Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ (1,252,251)	$ (5,193,554)	$ 4,926,248
Asset at Fair Value, Changes in Fair Value Resulting from Changes in Assumptions	(24,500)
Interest expense	49,439	38,114	1,551
Income from operations	337,796	482,616	500,336
Foreign currency exchange (gains) losses, net	(7,347)	(205)	2,753
Other Nonoperating Income (Expense)	(106,443)	(44,574)	(26,775)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(850,104)	(4,704,273)	5,449,055
Fair value of Appreciation rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment Owned, Unrecognized Unrealized Depreciation	31,300
Segment Reconciling Items [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	1,252,300	5,193,600	(4,926,200)
Foreign currency exchange (gains) losses, net	7,300	200	(2,700)
Other Nonoperating Income (Expense)	106,400	44,600	26,800
Segment Reconciling Items [Member] | Interest Expense
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest expense	(49,300)	(38,100)	(1,500)
Operating Segments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Income from operations	$ 337,800	$ 482,600	$ 500,300

Fair Value Measurements and I_8

Fair Value Measurements and Investments (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) shares		Dec. 31, 2023 EUR (€) shares	Dec. 31, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 6.5
Interest Receivable, Current	11.9			$ 11.6
Equity Method Investments	32.3			26.7
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instruments, Owned, Principal Investments, at Fair Value	(325.7)	[1]	€ (400)	(322.6)	[1]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	6.8	[1]
Foreign Currency Transaction Gain (Loss), Realized	9.9	[1]
Fair Value, Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instruments, Owned, Principal Investments, at Fair Value	$ (325.7)	[1]		(322.6)	[1]
Ordinary voting shares [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment ownership percentage	38%		38%
Investment Owned, Balance, Shares | shares	12,987,900		12,987,900
Preference shares [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment ownership percentage	28%		28%
Investment Owned, Balance, Shares | shares	9,588,908		9,588,908
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instruments, Owned, Principal Investments, at Fair Value	$ 0	[1]		$ 0	[1]
[1]The Loan under the fair value option is included in Other investments in the consolidated balance sheets.

Fair Value Measurements and I_9

Fair Value Measurements and Investments Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	$ 1,210.1
Long-term debt	1,199.1	$ 1,197.7
Total long-term debt, excluding leases and current maturities	1,112.1	1,066.1
Senior Notes | Senior Notes
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	1,189.5	1,187.6
Total long-term debt, excluding leases and current maturities	1,102.5	1,056
Other Long-Term Debt | Other Long-Term Debt
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	9.6	10.1
Total long-term debt, excluding leases and current maturities	$ 9.6	$ 10.1

Goodwill and Other Purchased _3

Goodwill and Other Purchased Intangible Assets Intangible Assets, Goodwill and Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill period start	$ 741,700	$ 682,500
Accumulated impairment loss period start	(335,200)	(335,200)
Goodwill, net period start	406,488	347,300
Goodwill, Acquired During Period	400	55,900
Goodwill, Impairment Loss	0	0
Currency fluctuations	6,700	3,300
Goodwill, Period Increase (Decrease)	7,100	59,200
Goodwill period end	748,800	741,700
Accumulated impairment loss period end	(335,200)	(335,200)
Goodwill, net period end	413,569	406,488
Life Science [Member]
Goodwill [Roll Forward]
Goodwill period start	333,300	333,300
Accumulated impairment loss period start	(41,800)	(41,800)
Goodwill, net period start	291,500	291,500
Goodwill, Acquired During Period	0	0
Currency fluctuations	0	0
Goodwill, Period Increase (Decrease)	0	0
Goodwill period end	333,300	333,300
Accumulated impairment loss period end	(41,800)	(41,800)
Goodwill, net period end	291,500	291,500
Clinical Diagnostics [Member]
Goodwill [Roll Forward]
Goodwill period start	408,400	349,200
Accumulated impairment loss period start	(293,400)	(293,400)
Goodwill, net period start	115,000	55,800
Goodwill, Acquired During Period	400	55,900
Currency fluctuations	6,700	3,300
Goodwill, Period Increase (Decrease)	7,100	59,200
Goodwill period end	415,500	408,400
Accumulated impairment loss period end	(293,400)	(293,400)
Goodwill, net period end	$ 122,100	$ 115,000

Goodwill and Other Purchased _4

Goodwill and Other Purchased Intangible Assets Intangible Assets, Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 567,100	$ 553,500
Future Amortization Expense, Year One	21,300
Future Amortization Expense, Year Two	19,300
Future Amortization Expense, Year Three	14,400
Future Amortization Expense, Year Four	12,000
Future Amortization Expense, Year Five	12,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	43,300
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(444,800)	(412,400)
Net Carrying Amount	122,300	141,100
Amortization [Abstract]
Amortization expense	23,800	24,900	$ 28,400
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	0
Purchased intangibles, net	320,514	332,147
Intangible Assets, Gross (Excluding Goodwill)	$ 765,300	$ 744,500
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	5 years 2 months 12 days	5 years
Finite-Lived Intangible Assets, Gross	$ 108,700	$ 104,700
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(98,900)	(89,900)
Net Carrying Amount	$ 9,800	$ 14,800
Know how [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	1 year 9 months 18 days	2 years 9 months 18 days
Finite-Lived Intangible Assets, Gross	$ 168,900	$ 166,200
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(161,100)	(153,900)
Net Carrying Amount	$ 7,800	$ 12,300
Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	12 years	12 years 9 months 18 days
Finite-Lived Intangible Assets, Gross	$ 217,800	$ 211,100
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(132,900)	(121,600)
Net Carrying Amount	$ 84,900	$ 89,500
Licensing Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	4 years 10 months 24 days	5 years 9 months 18 days
Finite-Lived Intangible Assets, Gross	$ 59,200	$ 59,000
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(42,400)	(38,500)
Net Carrying Amount	$ 16,800	$ 20,500
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	5 years 7 months 6 days	6 years 7 months 6 days
Finite-Lived Intangible Assets, Gross	$ 6,100	$ 6,100
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(4,700)	(4,500)
Net Carrying Amount	$ 1,400	$ 1,600
Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	2 years 3 months 18 days	3 years 1 month 6 days
Finite-Lived Intangible Assets, Gross	$ 6,400	$ 6,400
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	(4,800)	(4,000)
Net Carrying Amount	1,600	2,400
In Process Research and Development [Member]
Amortization [Abstract]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 198,200	$ 191,000

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory, Raw Materials, Net of Reserves	$ 231,600	$ 228,800
Inventory, Work in Process, Net of Reserves	246,000	220,900
Inventory, Finished Goods, Net of Reserves	302,900	269,600
Inventory	$ 780,517	$ 719,316

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,595,700	$ 1,508,000
Less: accumulated depreciation and amortization	(1,066,700)	(1,009,400)
Property, plant and equipment, net	529,007	498,612
Land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	28,400	27,800
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	419,800	393,600
Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,147,500	$ 1,086,600

Notes Payable and Long-Term D_3

Notes Payable and Long-Term Debt - Principal Components of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	$ 1,210.1
Less current maturities	(0.5)	$ (0.5)
Long-term debt	1,199.1	1,197.7
3.3%, Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	395.7
3.3%, Senior Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Senior notes	400	400
3.7%, Senior Notes due 2032
Debt Instrument [Line Items]
Long-term debt less unamortized discounts and debt issuance costs	790.5
3.7%, Senior Notes due 2032 | Senior Notes
Debt Instrument [Line Items]
Senior notes	800	800
Senior Notes | Senior Notes
Debt Instrument [Line Items]
Less unamortized discounts and debt issuance costs	(10.5)	(12.4)
Long-term debt less unamortized discounts and debt issuance costs	1,189.5	1,187.6
Finance Leases and Other Debt [Member] | Finance Lease Obligations [Member]
Debt Instrument [Line Items]
Finance leases and other debt	$ 10.1	$ 10.6

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Apr. 30, 2019
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 208,000,000
Letters of Credit Outstanding, Amount	4,300,000
Long-term debt less unamortized discounts and debt issuance costs	1,210,100,000
Line of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	200,000
Maximum borrowing capacity		$ 200,000,000
Long-term Line of Credit	$ 0
Line of Credit Facility, Interest Rate at Period End	6.698%
Performance Guarantee [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 4,300,000
3.3%, Senior Notes due 2027
Debt Instrument [Line Items]
Face amount of debt sold	400,000,000
Long-term debt less unamortized discounts and debt issuance costs	$ 395,700,000
3.3%, Senior Notes due 2027 | 3.3%, Senior Notes due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Basis for Effective Rate	3.5346
Debt Instrument, Interest Rate, Stated Percentage	3.30%
3.7%, Senior Notes due 2032
Debt Instrument [Line Items]
Face amount of debt sold	$ 800,000,000
Long-term debt less unamortized discounts and debt issuance costs	$ 790,500,000
3.7%, Senior Notes due 2032 | 3.7%, Senior Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Basis for Effective Rate	3.8429
Debt Instrument, Interest Rate, Stated Percentage	3.70%
Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	101%

Notes Payable and Long-Term D_5

Notes Payable and Long-Term Debt - Maturity Schedule (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 0.5
Long-term Debt, Maturities, Repayments of Principal in Year Two	0.5
Long-term Debt, Maturities, Repayments of Principal in Year Three	0.5
Long-term Debt, Maturities, Repayments of Principal in Year Four	400.5
Long-term Debt, Maturities, Repayments of Principal in Year Five	0.5
Long-term Debt, Maturities, Repayments of Principal after Year Five	807.6
Long-term debt	$ 1,210.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 0	$ 26,400	$ 1,800
Prepaid Taxes	2,700
U.S.	(31,000)	(2,403,400)	2,941,800
International	(819,100)	(2,300,900)	2,507,300
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(850,104)	(4,704,273)	5,449,055
U.S. Federal	73,800	112,800	72,400
State	12,000	20,100	9,200
International	17,400	24,100	32,600
Current Income Tax Expense (Benefit)	103,200	157,000	114,200
U.S. Federal	(291,700)	(1,121,300)	983,500
State	(15,700)	(83,600)	69,300
International	(15,200)	(36,700)	32,100
Deferred tax benefit	(322,600)	(1,241,600)	1,084,900
Non-current tax expense (benefit)	6,600	7,900	(4,300)
Provision for income taxes	$ (212,780)	$ (1,076,738)	$ 1,194,798
U.S. statutory tax rate	21%	21%	21%
Impact of foreign operations	(20.40%)	(10.00%)	(8.60%)
State taxes	2.40%	1.10%	1.30%
Other	(1.80%)	0.30%	(0.70%)
Provision for income taxes	25%	22.90%	21.90%
Bad debt, inventory and warranty accruals	$ 29,400	$ 30,800
Other post-employment benefits, vacation and other reserves	17,500	15,700
Tax credit and net operating loss carryforwards	126,400	128,200
Other	(48,800)	(53,200)
Total gross deferred tax assets	264,000	268,700
Valuation allowance	(53,200)	(72,800)	$ (46,400)	$ (44,600)
Deductions	19,600	0	0
Total deferred tax assets	210,800	195,900
Property and equipment	40,400	39,500
Investments and intangible assets	1,565,000	1,842,800
Total deferred tax liabilities	1,643,800	1,921,000
Net deferred tax liabilities	(1,433,000)	(1,725,100)
Unrecognized tax benefits period start	85,500	61,900	55,800
Additions to tax positions related to prior years	200	18,100	3,200
Reductions to tax positions related to prior years	(12,800)	(200)	(2,100)
Additions to tax positions related to the current year	11,600	9,800	18,100
Settlements	(200)	(2,200)	(2,400)
Lapse of statute of limitations	(900)	(800)	(10,800)
Currency translation		(1,100)
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation	1,300		100
Unrecognized tax benefits period end	84,700	85,500	61,900
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	9,600	6,700	11,800
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	2,800	$ (1,100)	$ (2,500)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	17,200
Tax Credit Carryforward, Amount	7,700
Operating Loss Carryforwards	$ 18,200
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Percent	22.30%	22.50%	22.40%
Operating lease obligations [Member]
Income Taxes [Line Items]
Other	$ (41,900)	$ (40,800)
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Operating Loss Carryforward With No Expiration Date	$ 144,500
Domestic Tax Authority [Member]
Income Taxes [Line Items]
Other reconciling items	23.80%	10.50%	8.90%
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	$ 74,600
Operating Loss Carryforwards	30,000
8888 Foreign Governments [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	301,400
Including accrued interest and penalties [Member]
Income Taxes [Line Items]
Other	17,800
Unrecognized tax benefits period end	94,300
Net of prepaid taxes [Member]
Income Taxes [Line Items]
Unrecognized tax benefits period end	73,800
Operating lease assets [Member]
Income Taxes [Line Items]
Deferred Tax Liabilities, Leasing Arrangements	$ 38,400	$ 38,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Common Class A
Class of Stock [Line Items]
Shares, Issued	25,170	25,162	25,134	25,073
Stock Issued During Period, Shares, Conversion of Convertible Securities	(8)	(20)	(16)
Stock Issued During Period, Shares, New Issues	0	8	45
Common Stock, Voting Rights	0.1
Election Percentage for Board of Directors	25%
Common Class B
Class of Stock [Line Items]
Shares, Issued	5,096	5,074	5,078	5,076
Stock Issued During Period, Shares, Conversion of Convertible Securities	(8)	(20)	(16)
Stock Issued During Period, Shares, New Issues	30	16	18
Common Stock, Voting Rights	one

Stockholders' Equity Treasury S

Stockholders' Equity Treasury Shares (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended						12 Months Ended
	Nov. 30, 2023	Sep. 30, 2023	May 31, 2023	Nov. 30, 2022	May 31, 2022	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Treasury stock (in shares)	2,427,532	1,768,116	1,709,638	1,159,775	918,367	663,083	1,747,438	640,492
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 278.7	$ 478.7	$ 0	$ 207.4	$ 98.1	$ 223.1	$ 278.7
Stock Repurchase Program, Authorized Amount							500
Treasury Stock, Shares, Acquired	659,416	58,478	549,863	241,408	255,284	89,506
Treasury Stock Acquired, Average Cost Per Share	$ 303.30	$ 364.61	$ 377.20	$ 375.63	$ 489.65	$ 558.60
Stock Repurchased During Period, Value							$ 650
Treasury Class-A [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Issued During Period, Shares, Treasury Stock Reissued							(160,811)	(135,744)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (336,038)	$ (466,822)
Other comprehensive income, net of tax	130,784	(291,269)	$ (458,009)
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(334,100)	(466,500)	(170,500)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	132,900	(296,300)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Tax	(500)	300
Other comprehensive income, net of tax	132,400	(296,000)
Other Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(2,800)	10,000	(10,900)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(13,100)	25,400
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	700	100
Other Comprehensive Income (Loss), Tax	(400)	(4,600)
Other comprehensive income, net of tax	(12,800)	20,900
Net Unrealized Investment Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	900	(10,300)	5,800
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	13,400	(21,500)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,200	600
Other Comprehensive Income (Loss), Tax	(3,400)	4,800
Other comprehensive income, net of tax	11,200	(16,100)
Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(336,000)	(466,800)	$ (175,600)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	133,200	(292,400)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,900	700
Other Comprehensive Income (Loss), Tax	(4,300)	500
Other comprehensive income, net of tax	$ 130,800	$ (291,200)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expense	$ (841,723)	$ (827,825)	$ (877,122)
Realized Investment Gains (Losses)	$ 700	$ 2,300	$ 8,000

Share-Based Compensation_Equi_3

Share-Based Compensation/Equity Awards and Purchase Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Exercise of Option, Tax Benefit	$ 1,300,000	$ 4,000,000	$ 18,500,000
Share-based Compensation Expense	61,300,000	60,900,000	51,200,000
Share-based Payment Arrangement, Expense, Tax Benefit	9,800,000	8,800,000	7,400,000
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	11,300,000	9,900,000	8,300,000
cost of goods sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	6,100,000	5,400,000	4,900,000
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Expense	$ 43,900,000	$ 45,600,000	38,000,000
2011 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized	1,300,000
Stock Option and Award Plans [Member] | Incentive Award Plan 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized	2,108,724
Number of Shares Available for Grant	1,112,483
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Remaining Contractual Term (in years) - Outstanding	5 years 5 months 26 days
Aggregate Intrinsic Value (in millions) - Outstanding	$ 2.3
Options - Weighted-Average Exercise Price	$ 410.50	$ 270.03
Options Granted - Weighted Average Exercise Price	0
Options Exercised - Weighted Average Exercise Price	$ 129.89
Options Granted Term	10
Options Forfeitured/expired - Weighted Average Exercise Price	$ 579.93
Options - Shares Vested and Expected to Vest	15,576
Options Vested and Expected to Vest - Weighted Average Exercise Price	$ 583.87
Options Vested and Expected to Vest - Weighted Average Remaining Contractual Term (in years)	6 years 9 months 3 days
Options Vested and Expected to Vest - Aggregate Intrinsic Value (in millions)	$ 0.1
Weighted Average Exercise Price - Options Exercisable	$ 374.10
Weighted Average Remaining Contractual Term (in years) - Exercisable	5 years 2 months 19 days
Options Exercisable Aggregate Intrinsic Value (in millions)	$ 2.2
Options, Exercises in Period, Total Intrinsic Value	20,200,000	$ 15,200,000	33,000,000
Cash Received from Exercise of Stock Options	700,000	$ 0	$ 3,600,000
Total unrecognized compensation cost from stock options	$ 2,100,000
Options Number Exercisable	74,184
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25%	20%
Weighted average fair value of options granted, period for recognition	1 year
Expected Volatility			27%
Risk Free Interest Rate			1.05%
Expected life (in years)			7 years 3 months 18 days
Expected dividend			$ 0
Weighted average fair value of options granted			$ 251.93
Expected dividend yield	0%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding beginning of period	206,420
Options - Shares Granted	0
Options - Shares Exercised	(108,350)
Options - Shares Forfeitures/expired	(8,310)
Outstanding end of period	89,760	206,420
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Available for Grant	418,879
Cash Received from Exercise of Stock Options	$ 17,800,000	$ 17,600,000	$ 17,000,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans	56,985	44,480	31,639
Employee Contribution Rate - Maximum	10%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Contribution Amount	$ 25,000
Employee Purchase Price Discount from Market Price	85%
Expected Volatility	35%	41%	25%
Risk Free Interest Rate	5.15%	1.71%	0.05%
Expected life (in years)	2 months 26 days	3 months	3 months
Expected dividend	$ 0	$ 0	$ 0
Expected dividend yield	0%
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased	$ 90.11	$ 124.26	$ 127.16
Performance-based Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding beginning of period	11,391
Outstanding end of period	23,167	11,391
Performance-based Stock Units (PSUs) | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0%
Performance-based Stock Units (PSUs) | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	200%

Share-Based Compensation_Equi_4

Share-Based Compensation/Equity Awards and Purchase Plans (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Treasury Class-A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 44.7	$ 54.5	$ 104.4
Total unrecognized compensation cost from restricted stock	$ 138.1
Nonvested shares - Weighted Average Grant Date Fair Value	$ 460.22	$ 516.85
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted Stock Units Granted	193,937
Restricted Stock Units - Vested	(113,419)
Restricted Stock Units - Forfeited	(50,167)
Weighted Average Grant Date Fair Value - Granted	$ 393.16
Restricted Stock Units Vested - Weighted-Average Grant-Date Fair Value	485.12
Resticted Stock Units Cancelled/forfeited - Weighted-Average Grant-Date Fair Value	$ 499.45
Weighted Average Remaining Contractual Term (in years)	1 year 9 months 10 days
Resticted Stock Units Outstanding Aggregate Intrinsic Value (in millions)	$ 111.3
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	344,593	314,242
Performance-based Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares - Weighted Average Grant Date Fair Value	$ 413.39	$ 486.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted Stock Units Granted	16,296
Restricted Stock Units - Vested	0
Restricted Stock Units - Forfeited	(4,520)
Weighted Average Grant Date Fair Value - Granted	$ 366.47
Restricted Stock Units Vested - Weighted-Average Grant-Date Fair Value	0
Resticted Stock Units Cancelled/forfeited - Weighted-Average Grant-Date Fair Value	$ 427.84
Weighted Average Remaining Contractual Term (in years)	1 year 6 months 14 days
Resticted Stock Units Outstanding Aggregate Intrinsic Value (in millions)	$ 7.5
Options Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	23,167	11,391

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and investment income	$ (100,900)	$ (58,000)	$ (18,900)
Realized Investment Gains (Losses)	(700)	(2,300)	(8,000)
Equity Method Investment, Other than Temporary Impairment	0	11,900	800
Financing Receivable, Allowance for Credit Loss, Writeoff	0	7,500	0
Gain on divestiture of division	0	(1,400)	0
Escrow Deposit Disbursements Related to Property Acquisition	(2,500)	0	0
Other Nonoperating Income	(2,300)	(2,300)	(700)
Other Nonoperating Income (Expense)	$ (106,443)	$ (44,574)	$ (26,775)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Significant Noncash Transactions [Line Items]
Net income (loss)	$ 349,700	$ 106,300	$ (1,162,300)	$ 69,000	$ 827,700	$ (162,800)	$ (925,100)	$ (3,367,300)	$ (637,324)	$ (3,627,535)	$ 4,254,257
Depreciation and amortization									145,900	137,300	137,600
Reduction in the carrying amount of right-of-use assets									46,500	39,900	39,300
Share-based compensation									61,300	60,900	51,200
Other than Temporary Impairment Losses on Investments									0	11,900	800
Provision for Loan, Lease, and Other Losses									0	7,500	0
Changes in fair market value of equity securities									1,252,300	5,193,600	(4,926,200)
Gain on divestiture of a division									(2,500)	(1,400)	0
Payments for operating lease liabilities									(41,000)	(38,100)	(40,700)
(Increase) decrease in accounts receivable, net									11,400	(87,400)	(20,400)
(Increase) decrease in inventories, net									(46,300)	(158,800)	46,100
(Increase) decrease in Other Current Assets									5,600	(27,300)	(12,900)
Increase (decrease) in accounts payable and other current liabilities									(51,800)	(94,200)	69,900
Increase (decrease) in Income Taxes Payable									(21,300)	(1,200)	(28,800)
Increase in deferred income taxes									(322,600)	(1,241,600)	1,084,900
(Increase) decrease in other long term assets									(3,700)	(5,100)	(6,200)
Increase (Decrease) in Other Noncurrent Liabilities									(4,100)	5,600	10,500
Other									600	20,300	10,100
Net cash provided by operating activities									374,943	194,447	669,464
Noncash purchased property, plant and equipment									6,900	7,300	5,200
Noncash Purchased Marketable Securities and Investments									$ 400	$ 0	$ 6,000

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Post-Employment Benefits Liability	$ 2.4	$ 2.5
Recorded Unconditional Purchase Obligation	121.7
Recorded Unconditional Purchase Obligation Due in Next Twelve Months	4.3
Recorded Unconditional Purchase Obligation Due in Second Year	29.8
Recorded Unconditional Purchase Obligation Due in Third Year	6.7
Recorded Unconditional Purchase Obligation Due in Fourth Year	4.8
Recorded Unconditional Purchase Obligation Due in Fifth Year	5.7
Recorded Unconditional Purchase Obligation Due after Fifth Year	70.4
Unrecorded Unconditional Purchase Obligation	122.6
Unrecorded Unconditional Purchase Obligation, Due in Twelve Months	96.4
Unrecorded Unconditional Purchase Obligation, Due within Two Years	24.3
Unrecorded Unconditional Purchase Obligation, Due within Three Years	1.8
Unrecorded Unconditional Purchase Obligation, Due within Four Years	0.1
Unrecorded Unconditional Purchase Obligation, Due within Five Years	0
Unrecorded Unconditional Purchase Obligation, Due after Five Years	0
Letters of Credit Outstanding Amount	$ 4.3
Employees Covered By Collective Bargaining Agreements U.S., Percentage	7%
Defined Benefit Plan, Accumulated Benefit Obligation	$ 114.8	114.9
Deferred Compensation Cash-based Arrangements, Liability, Current	1.9	1.2
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets	$ 22.6	$ 32.5
UNITED STATES
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Entity Number of Employees	3,370

Commitments and Contingent Li_4

Commitments and Contingent Liabilities Period Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contribution expense	$ 20.2	$ 19.1	$ 18.4
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Income from operations

Commitments and Contingent Li_5

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.50%	0.60%	0.30%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2%	2.60%
Defined Benefit Plan, Benefit Obligation	$ 154.4	$ 129.2	$ 155.5
Defined Benefit Plan, Service Cost	5.4	6.6	8
Defined Benefit Plan, Interest Cost	3.4	0.8	0.5
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	3.3	3.1
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	14	(23.5)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	(1)	0.7
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment	(0.7)	(1)
Defined Benefit Plan, Benefit Obligation, Business Combination	2.5	0
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(10.6)	(7.6)
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	8.9	(5.4)
Defined Benefit Plan, Plan Assets, Amount	92.2	82.4	79.4
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	1.7	1.5
Defined Benefit Plan, Plan Assets, Contributions by Employer	4.7	4.3
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	3.3	3.1
Defined Benefit Plan, Plan Assets, Benefits Paid	0.3	2.8
Defined Benefit Plan, Plan Assets, Business Combination	2.4	0
Defined Benefit Plan, Plan Assets, Payment for Settlement	(10.5)	(7.6)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	7.9	(1.1)
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(62.2)	(46.8)
Liability, Defined Benefit Plan, Current	(2.7)	(1.5)
Liability, Defined Benefit Plan, Noncurrent	(59.5)	(45.3)
Liability, Defined Benefit Plan	(62.2)	(46.8)
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	2.2	1	1
Defined Benefit Plan, Amortization of Gain (Loss)	0.1	(0.3)	(1.8)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	0	1.9
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	(1.3)	0.2	(1.2)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	7.4	6.2	8.6
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (0.4)	$ (0.3)	$ 0
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	1.80%	1.70%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	2.60%	1.30%	1.10%

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number Of Products And Services	12,000
Net sales	$ 2,671,300	$ 2,802,200	$ 2,922,500
Interest expense	49,439	38,114	1,551
Depreciation and amortization	145,900	137,300	137,600
Segment profit	337,796	482,616	500,336
Total assets	$ 12,299,070	13,501,666
Number of Reportable Segments | segment	2
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment profit	$ 337,800	482,600	500,300
Total assets	780,500	719,300
Life Science [Member]
Segment Reporting Information [Line Items]
Net sales	1,178,400	1,347,200	1,400,800
Depreciation and amortization	62,800	57,900	54,800
Segment profit	108,900	266,800	319,700
Life Science [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	287,100	269,900	207,700
Clinical Diagnostics [Member]
Segment Reporting Information [Line Items]
Net sales	1,489,300	1,451,000	1,515,900
Depreciation and amortization	83,100	79,400	82,800
Segment profit	229,600	217,700	181,800
Clinical Diagnostics [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	493,100	448,800	363,500
All Other Segments [Member]
Segment Reporting Information [Line Items]
Net sales	3,600	4,000	5,800
Depreciation and amortization	0	0	0
Segment profit	(700)	(1,900)	(1,200)
All Other Segments [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 300	$ 600	$ 1,000

Segment Information Segment Pro

Segment Information Segment Profit Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income from operations	$ 337,796	$ 482,616	$ 500,336
Interest expense	49,439	38,114	1,551
Foreign currency exchange (gains) losses, net	(7,347)	(205)	2,753
Debt and Equity Securities, Unrealized Gain (Loss)	1,252,251	5,193,554	(4,926,248)
Other Nonoperating Income (Expense)	(106,443)	(44,574)	(26,775)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(850,104)	(4,704,273)	5,449,055
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income from operations	337,800	482,600	500,300
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Foreign currency exchange (gains) losses, net	7,300	200	(2,700)
Debt and Equity Securities, Unrealized Gain (Loss)	(1,252,300)	(5,193,600)	4,926,200
Other Nonoperating Income (Expense)	106,400	44,600	26,800
Segment Reconciling Items [Member] | Interest Expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest expense	$ (49,300)	$ (38,100)	$ (1,500)

Segment Information Segment Ass

Segment Information Segment Asset Reconciliation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 12,299,070	$ 13,501,666
Goodwill, net	413,569	406,488	$ 347,300
Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	780,500	719,300
Segment Reconciling Items [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Cash, short-term investments and other current assets	2,267,800	2,438,700
Property, plant and equipment, net, and operating lease right-of-use assets	723,700	679,600
Goodwill, net	413,600	406,500
Other long-term assets	$ 8,113,500	$ 9,257,600

Segment Information Segment Inf

Segment Information Segment Information by Geographical Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 2,671.3	$ 2,802.2	$ 2,922.5
Other assets, property, plant and equipment, net and Operating lease right-of-use assets	776.1	728.8
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	819.8	851.9	946.9
Other assets, property, plant and equipment, net and Operating lease right-of-use assets	197	183.7
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	563	639.4	688.4
Other assets, property, plant and equipment, net and Operating lease right-of-use assets	82.7	63.8
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,121.9	1,155.5	1,130.6
Other assets, property, plant and equipment, net and Operating lease right-of-use assets	477.3	465.7
Other (primarily Canada and Latin America) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	166.6	155.4	$ 156.6
Other assets, property, plant and equipment, net and Operating lease right-of-use assets	$ 19.1	$ 15.6

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended	7 Months Ended	11 Months Ended	12 Months Ended			35 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				$ 27.9	$ 4.2	$ 64.4
Restructuring Reserve	$ 23.8	$ 23.8	$ 23.8	23.8			$ 23.8
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				17.5	3	26.1
Research and Development Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				6.5	0.1	13.3
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				3.9	1.1	25
Accounts Payable and Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	22.9	22.9	22.9	22.9			22.9
Other Noncurrent Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0.9	0.9	0.9	0.9			0.9
European and American Reorganization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			14.2	14.2
Restructuring Reserve	6.9	6.9	6.9	6.9	0		6.9
Payments for Restructuring				(7.8)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.5)
European and American Reorganization | Life Science [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				2.7
Restructuring Reserve	1	1	1	1	0		1
Payments for Restructuring				(1.8)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.1)
European and American Reorganization | Clinical Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				11.5
Restructuring Reserve	5.9	5.9	5.9	5.9	0		5.9
Payments for Restructuring				(6)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.4)
Additional European and American Reorganization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		8.1		8.1
Restructuring Reserve	1.8	1.8	1.8	1.8	0		1.8
Payments for Restructuring				(6.4)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.1)
Additional European and American Reorganization | Life Science [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				4
Restructuring Reserve	0.5	0.5	0.5	0.5	0		0.5
Payments for Restructuring				(3.5)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				0
Additional European and American Reorganization | Clinical Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				4.1
Restructuring Reserve	1.3	1.3	1.3	1.3	0		1.3
Payments for Restructuring				(2.9)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.1)
Other European and American Reorganization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3.5			3.5
Restructuring Reserve	2.1	2.1	2.1	2.1	0		2.1
Payments for Restructuring				(1.5)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.1)
Other European and American Reorganization | Life Science [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				2.7
Restructuring Reserve	1.5	1.5	1.5	1.5	0		1.5
Payments for Restructuring				(1.2)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				0
Other European and American Reorganization | Clinical Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				0.8
Restructuring Reserve	0.6	0.6	0.6	0.6	0		0.6
Payments for Restructuring				(0.3)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				(0.1)
European Reorganization
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				2.1	4.2
Restructuring Charges							70.7
Restructuring Reserve	13	13	13	13	31.6	47.1	13
Payments for Restructuring				(21.1)	(16.8)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				0.4	(2.9)
European Reorganization | Life Science [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				0	1.1
Restructuring Reserve	0.2	0.2	0.2	0.2	1.9	5.2	0.2
Payments for Restructuring				(1.7)	(4.1)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				0	(0.3)
European Reorganization | Clinical Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment				2.1	3.1
Restructuring Reserve	$ 12.8	$ 12.8	$ 12.8	12.8	29.7	$ 41.9	$ 12.8
Payments for Restructuring				(19.4)	(12.7)
Restructuring Reserve, Foreign Currency Translation (Gain) Loss				$ 0.4	$ (2.6)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Deferred Tax Assets, Other	$ 48,800	$ 53,200
U.S.	(31,000)	$ (2,403,400)	$ 2,941,800
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	46,600
Finance Lease, Liability, Payments, Remainder of Fiscal Year	$ 1,200
Operating Lease, Weighted Average Remaining Lease Term	7 years	7 years
Operating lease right-of-use assets	$ 194,730	$ 180,952
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating Lease, Payments	$ 41,000	$ 38,100	40,700
Operating Lease, Cost	63,400	57,500	53,200
Finance Lease, Right-of-Use Asset, Amortization	400	400	500
Finance Lease, Interest Expense	700	800	800
Finance Lease Cost	1,100	1,200	1,300
Finance Lease, Interest Payment on Liability	700	800	800
Finance Lease, Principal Payments	400	400	500
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	53,700	21,200	45,500
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	0	100	$ 0
Current operating lease liabilities	40,379	36,336
Operating lease liabilities	165,478	153,597
Current maturities of long-term debt and notes payable	500	500
Finance Lease, Liability, Noncurrent	9,600	10,100
Operating Lease, Liability	$ 205,900	$ 189,900
Finance Lease, Weighted Average Remaining Lease Term	14 years	15 years
Operating Lease, Weighted Average Discount Rate, Percent	3.90%	3%
Finance Lease, Weighted Average Discount Rate, Percent	6.40%	6.30%
Lessee, Operating Lease, Liability, Payments, Due Year Two	$ 45,100
Finance Lease, Liability, Payments, Due Year Two	1,100
Lessee, Operating Lease, Liability, Payments, Due Year Three	33,300
Finance Lease, Liability, Payments, Due Year Three	1,100
Lessee, Operating Lease, Liability, Payments, Due Year Four	25,600
Finance Lease, Liability, Payments, Due Year Four	1,100
Lessee, Operating Lease, Liability, Payments, Due Year Five	20,200
Finance Lease, Liability, Payments, Due Year Five	1,100
Lessee, Operating Lease, Liability, Payments, Due after Year Five	65,500
Finance Lease, Liability, Payments, Due after Year Five	10,800
Lessee, Operating Lease, Liability, Payments, Due	236,300
Finance Lease, Liability, Payment, Due	16,400
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(30,400)
Finance Lease, Liability, Undiscounted Excess Amount	(6,300)
Finance Lease, Liability	$ 10,100	$ 10,600
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current maturities of long-term debt and notes payable	Current maturities of long-term debt and notes payable
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 6,000	$ 6,400
Property, Plant and Equipment
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, before Accumulated Amortization	11,900	11,900
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 5,900	$ 5,500
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee Operating And Finance Leases Remaining Lease Term	15 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee Operating And Finance Leases Remaining Lease Term	1 year

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Data [Abstract]
Income from operations									$ 337,796	$ 482,616	$ 500,336
Research and development expense									247,427	256,889	260,638
Cost of goods sold									1,244,316	1,234,919	1,284,449
Selling, general and administrative expense									$ 841,723	$ 827,825	$ 877,122
Net income (loss) per diluted share (in dollars per share)	$ 12.14	$ 3.64	$ (39.59)	$ 2.32	$ 27.78	$ (5.48)	$ (31.05)	$ (112.50)	$ (21.82)	$ (121.79)	$ 140.83
Net income (loss) per basic share (in dollars per share)	$ 12.15	$ 3.65	$ (39.59)	$ 2.33	$ 27.89	$ (5.48)	$ (31.05)	$ (112.50)	$ (21.82)	$ (121.79)	$ 142.61
Net income (loss)	$ 349,700	$ 106,300	$ (1,162,300)	$ 69,000	$ 827,700	$ (162,800)	$ (925,100)	$ (3,367,300)	$ (637,324)	$ (3,627,535)	$ 4,254,257
Gross Profit	366,300	335,700	362,500	362,400	397,100	372,600	395,000	402,600	1,426,946	1,567,330	1,638,096
Net cash used in investing activities									20,208	(1,207,593)	(797,381)
Net sales	$ 681,200	$ 632,100	$ 681,100	$ 676,800	$ 730,300	$ 680,800	$ 691,100	$ 700,100	2,671,262	2,802,249	2,922,545
Net cash provided by operating activities									$ 374,943	$ 194,447	$ 669,464

Subsequent Events (Details)

Subsequent Events (Details) - Line of Credit - USD ($) $ in Millions	Feb. 13, 2024	Apr. 30, 2019
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 200
Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 200