v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table summarizes reportable segment revenues, expenses, and profit and provides a reconciliation of total reportable segment Adjusted EBITDA to Net income (loss) for the periods indicated:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Academia & Government
Revenues$318.5 $344.5 $621.2 $662.2 
People-related costs(84.1)(90.5)(170.3)(182.7)
Royalties and other product costs(50.4)(59.9)(105.5)(120.9)
Technology costs(20.0)(21.3)(39.6)(41.3)
Outside service costs(8.8)(10.1)(17.9)(20.6)
Other costs(10.4)(10.6)(19.3)(21.1)
A&G Adjusted EBITDA$144.8 $152.1 $268.6 $275.6 
Intellectual Property
Revenues$202.5 $201.6 $395.2 $402.5 
People-related costs(73.7)(72.0)(146.4)(145.3)
Royalties and other product costs(19.3)(16.7)(37.3)(38.8)
Technology costs(12.6)(12.0)(24.9)(23.4)
Outside service costs(5.2)(5.0)(10.9)(9.8)
Other costs(7.1)(6.8)(12.3)(13.0)
IP Adjusted EBITDA$84.6 $89.1 $163.4 $172.2 
Life Sciences & Healthcare
Revenues$100.4 $104.2 $198.7 $206.8 
People-related costs(46.2)(48.2)(93.0)(99.0)
Royalties and other product costs(9.4)(9.5)(18.2)(18.7)
Technology costs(6.6)(7.1)(13.6)(13.5)
Outside service costs(3.0)(3.1)(5.6)(6.3)
Other costs(3.0)(3.1)(5.5)(6.4)
LS&H Adjusted EBITDA$32.2 $33.2 $62.8 $62.9 
Total Reportable Segments
Revenues$621.4 $650.3 $1,215.1 $1,271.5 
People-related costs(204.0)(210.7)(409.7)(427.0)
Royalties and other product costs(79.1)(86.1)(161.0)(178.4)
Technology costs(39.2)(40.4)(78.1)(78.2)
Outside service costs(17.0)(18.2)(34.4)(36.7)
Other costs(20.5)(20.5)(37.1)(40.5)
Total Reportable Segments Adjusted EBITDA$261.6 $274.4 $494.8 $510.7 
Benefit (provision) for income taxes(12.3)6.8 (31.1)(8.2)
Depreciation and amortization(190.9)(184.4)(376.3)(363.8)
Interest expense, net(66.6)(71.1)(130.9)(141.3)
Share-based compensation expense(18.5)(18.9)(29.6)(34.3)
Goodwill and intangible asset impairments— (302.8)— (302.8)
Restructuring and lease impairments(9.3)(0.7)(34.0)(10.2)
Fair value adjustment of warrants— — — 5.2 
Transaction related costs(8.1)(3.1)(14.4)(7.5)
Other(1)
(27.9)(4.5)(54.4)(27.1)
Net income (loss)$(72.0)$(304.3)$(175.9)$(379.3)
(1) Includes the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. The six months ended June 30, 2024 includes a $14.8 loss on the divestiture described in Note 9 - Other Operating Expense (Income), Net.