v3.26.1
Pay vs Performance Disclosure
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Pay vs Performance Disclosure [Table]              
Pay vs Performance Disclosure, Table    

Pay Versus Performance

 

​

​

​

​

Average
Summary
Compensation
Table Total
for Non-PEO
Named
Executive
Officers
($)(4)

Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers
($) (5)

Value of Initial Fixed
$100 Investment
Based On:

Net
Income
($, in
thousands)(7)

Adjusted
Non-GAAP
Earnings
Per Share
($)(8)

Year

Summary
Compensation
Table Total for
PEO ($)(1) (2)

Compensation
Actually Paid to
PEO ($)(2) (3)

Total
Shareholder
Return

Peer Group
Total
Shareholder
Return(6)

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

 

PEO – 1

PEO – 2

PEO – 1

PEO – 2

 

 

 

 

 

 

2025

6,741,212

n.a.

8,798,416

n.a.

1,874,143

2,208,203

122.33

105.51

869,193

42.89

2024

6,938,864

n.a.

6,518,309

n.a.

1,647,649

1,724,112

107.37

102.34

863,140

41.11

2023

8,530,989

n.a.

4,664,662

n.a.

1,438,196

309,455

106.43

102.86

788,778

38.26

2022

6,472,835

n.a.

4,632,617

n.a.

1,534,933

1,165,135

126.83

108.96

872,502

39.39

2021

12,046,903

816,467

15,803,547

17,202,243

1,977,815

4,311,764

148.92

139.00

768,985

33.61
(1)The dollar amounts reported in column (b) are the amounts of total compensation reported for our Principal Executive Officer(s) for each corresponding year in the “Total” column of the Summary Compensation Table.
(2)In 2021, the company had two Principal Executive Officers (PEO). Olivier Filliol (PEO – 2, in the table above) was the PEO until April 1, 2021. Patrick Kaltenbach (PEO – 1, in the table above) is the PEO since April 1, 2021.
(3)The dollar amounts reported in column (c) represent the “Compensation Actually Paid” to the applicable PEO for the corresponding year. Compensation Actually Paid is calculated pursuant to the requirements of Item 402(v) of Regulation S-K, adjusting Summary Compensation Table totals to reflect equity award valuation changes at certain points over time. It does not reflect dollar amounts actually paid to our PEOs.

The equity award adjustments for 2025 include the addition (or subtraction, as applicable) of the following, as shown in the table below:

Year

Reported
Summary
Compensation
Table Total
for PEO ($)

Reported
Value of
Equity
Awards ($)

Year End
Fair Value
of Equity
Awards
Granted ($)

Year over Year
Change in Fair Value of
Outstanding
and Unvested
Equity
Awards ($)

Change in
Fair Value
of Equity
Awards
granted in
Prior Years
that Vested
in the Year ($)

Compensation
Actually Paid
to PEO ($)

PEO – 1

 

 

 

 

 

 

2025

6,741,212

4,902,841

5,518,423

634,953

806,668

8,798,416

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

(4)The dollar amounts reported in column (d) represent the average of the amounts reported for the company’s named executive officers (NEOs) as a group (excluding the PEOs) in the “Total” column of the Summary Compensation Table in each applicable year. The non-PEO NEOs were Shawn P. Vadala and Marc de La Guéronnière for all periods shown above. For 2021, Peter Aggersbjerg, the Head of Divisions during those periods, was also an NEO. For 2021 through 2024, Gerry Keller, Head of Process Analytics, was also an NEO. For 2022, 2023, 2024, and 2025 Richard Wong is also an NEO. For 2025, Susan Graham-Bryce, Chief Human Resources Officer, is also an NEO.

(5)The dollar amounts reported in column (e) represent the average amount of “Compensation Actually Paid” to the NEOs as a group (excluding the PEOs) for the corresponding year. Compensation Actually Paid is calculated pursuant to the requirements of Item 402(v) of Regulation S-K, adjusting Summary Compensation table totals to reflect equity award valuation changes at certain points over time. It does not reflect dollar amounts actually paid to our NEOs. The NEOs included for purposes of these calculations are described in footnote 4.

The equity award adjustments for 2025 include the addition (or subtraction, as applicable) of the following, as shown in the table below:

Year

Average
Reported
Summary
Compensation
Table Total
for Non-PEO
NEOs ($)

Average
Reported
Value of
Equity
Awards ($)

Average
Year End
Fair Value
of Equity
Awards
Granted ($)

Year over
Year
Average
Change in
Fair Value
of Outstanding
and
Unvested
Equity
Awards ($)

Average Change in
Fair Value
of Equity Awards
granted in
Prior Years
that Vested
in the Year ($)

Average
Compensation
Actually Paid
to Non-PEO
NEOs ($)

2025

1,874,143

1,128,213

1,260,926

36,458

164,888

2,208,203

(6)Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: SIC Code 3826 Index – Laboratory Analytical Instruments.
(7)The dollar amounts reported represent the amount of net income reflected in the company’s audited financial statements for the applicable year.
(8)While the company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the company’s compensation programs, the company has determined that non-GAAP earnings per share is the financial performance measure that, in the company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs (including the PEOs), for the most recently completed fiscal year, to company performance.

Adjusted earnings per share (EPS) is a non-GAAP measure. For 2025, excludes purchased intangible amortization (net of tax) of $21.1 million, restructuring charges (net of tax) of $14.5 million and a net benefit (net of tax) of $3.6 million related to contingent consideration associated with previous acquisitions less acquisition transaction costs (net of tax) of $1.7 million. Also excludes operating results not considered in the target and a $19.5 million non-cash benefit resulting from the reduction of uncertain tax position liabilities and valuation allowance related to the settlement of a tax audit. For 2024, excludes purchased intangible amortization (net of tax) of $20.1 million, restructuring charges (net of tax) of $16.0 million,

and other costs (net of tax) of $0.3 million. Also excludes a $23.0 million one-time non-cash benefit resulting from the reduction of uncertain tax position liabilities related to the settlement of a tax audit. For 2023, excludes purchased intangible amortization (net of tax) of $20.5 million and restructuring charges (net of tax) of $26.5 million. Adjusted EPS also was increased to restate our actual tax rate to our budgeted tax rate before non-recurring items. For 2022, excludes purchased intangible amortization (net of tax) of $19.8 million, acquisition transaction costs (net of tax) of $0.7 million, and restructuring charges (net of tax) of $7.8 million. Adjusted EPS also was reduced in 2022 to restate our actual tax rate to our budgeted tax rate before non-recurring items and exclude operating results not considered in the target. For 2021, excludes purchased intangible amortization (net of tax) of $16.3 million, acquisition charges (net of tax) of $8.2 million pertaining to increased contingent consideration and transaction costs, and restructuring charges (net of tax) of $4.2 million. Adjusted EPS also was reduced in 2021 to restate our actual tax rate to our budgeted tax rate before non-recurring items and exclude operating results not considered in the target.

       
Named Executive Officers, Footnote     The dollar amounts reported in column (d) represent the average of the amounts reported for the company’s named executive officers (NEOs) as a group (excluding the PEOs) in the “Total” column of the Summary Compensation Table in each applicable year. The non-PEO NEOs were Shawn P. Vadala and Marc de La Guéronnière for all periods shown above. For 2021, Peter Aggersbjerg, the Head of Divisions during those periods, was also an NEO. For 2021 through 2024, Gerry Keller, Head of Process Analytics, was also an NEO. For 2022, 2023, 2024, and 2025 Richard Wong is also an NEO. For 2025, Susan Graham-Bryce, Chief Human Resources Officer, is also an NEO.        
Peer Group Issuers, Footnote     Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: SIC Code 3826 Index – Laboratory Analytical Instruments.        
Adjustment To PEO Compensation, Footnote    

The equity award adjustments for 2025 include the addition (or subtraction, as applicable) of the following, as shown in the table below:

Year

Reported
Summary
Compensation
Table Total
for PEO ($)

Reported
Value of
Equity
Awards ($)

Year End
Fair Value
of Equity
Awards
Granted ($)

Year over Year
Change in Fair Value of
Outstanding
and Unvested
Equity
Awards ($)

Change in
Fair Value
of Equity
Awards
granted in
Prior Years
that Vested
in the Year ($)

Compensation
Actually Paid
to PEO ($)

PEO – 1

 

 

 

 

 

 

2025

6,741,212

4,902,841

5,518,423

634,953

806,668

8,798,416
       
Non-PEO NEO Average Total Compensation Amount [1]     $ 1,874,143 $ 1,647,649 $ 1,438,196 $ 1,534,933 $ 1,977,815
Non-PEO NEO Average Compensation Actually Paid Amount [2]     $ 2,208,203 1,724,112 309,455 1,165,135 4,311,764
Adjustment to Non-PEO NEO Compensation Footnote    

The equity award adjustments for 2025 include the addition (or subtraction, as applicable) of the following, as shown in the table below:

Year

Average
Reported
Summary
Compensation
Table Total
for Non-PEO
NEOs ($)

Average
Reported
Value of
Equity
Awards ($)

Average
Year End
Fair Value
of Equity
Awards
Granted ($)

Year over
Year
Average
Change in
Fair Value
of Outstanding
and
Unvested
Equity
Awards ($)

Average Change in
Fair Value
of Equity Awards
granted in
Prior Years
that Vested
in the Year ($)

Average
Compensation
Actually Paid
to Non-PEO
NEOs ($)

2025

1,874,143

1,128,213

1,260,926

36,458

164,888

2,208,203
       
Compensation Actually Paid vs. Total Shareholder Return    

Compensation Actually Paid and Cumulative TSR

 

        
Compensation Actually Paid vs. Net Income    

Compensation Actually Paid and Net Income

        
Compensation Actually Paid vs. Company Selected Measure    

Compensation Actually Paid and Adjusted non-GAAP Earnings Per Share

        
Total Shareholder Return Vs Peer Group    

Cumulative TSR of the Company and Cumulative TSR of the Peer Group

The following chart describes the relationship between our TSR and that of our peer group: the SIC Code 3826 Index – Laboratory Analytical Instruments, assuming an investment of $100.00 on December 31, 2020.

        
Tabular List, Table    

Most Important Measures for Determining NEO Pay

Non-GAAP earnings per share

Net cash flow

Group sales at budgeted currency rates

Total shareholder return relative to the S&P 500 Healthcare Index and the S&P 500 Industrials Index
       
Total Shareholder Return Amount     $ 122.33 107.37 106.43 126.83 148.92
Peer Group Total Shareholder Return Amount [3]     105.51 102.34 102.86 108.96 139.00
Net Income (Loss) Attributable to Parent [4]     $ 869,193,000 $ 863,140,000 $ 788,778,000 $ 872,502,000 $ 768,985,000
Company Selected Measure Amount [5]     42.89 41.11 38.26 39.39 33.61
Measure [Axis]: 1              
Pay vs Performance Disclosure [Table]              
Measure Name     Non-GAAP earnings per share        
Non-GAAP Measure Description     While the company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the company’s compensation programs, the company has determined that non-GAAP earnings per share is the financial performance measure that, in the company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs (including the PEOs), for the most recently completed fiscal year, to company performance.        
Measure [Axis]: 2              
Pay vs Performance Disclosure [Table]              
Measure Name     Net cash flow        
Measure [Axis]: 3              
Pay vs Performance Disclosure [Table]              
Measure Name     Group sales at budgeted currency rates        
Measure [Axis]: 4              
Pay vs Performance Disclosure [Table]              
Measure Name     Total shareholder return relative to the S&P 500 Healthcare Index and the S&P 500 Industrials Index        
Non-PEO NEO [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     $ 1,128,213        
Non-PEO NEO [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     1,260,926        
Non-PEO NEO [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     36,458        
Non-PEO NEO [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     164,888        
PEO One [Member]              
Pay vs Performance Disclosure [Table]              
PEO Total Compensation Amount [6],[7]     6,741,212 $ 6,938,864 $ 8,530,989 $ 6,472,835 $ 12,046,903
PEO Actually Paid Compensation Amount [6],[8]     $ 8,798,416 $ 6,518,309 $ 4,664,662 $ 4,632,617 15,803,547
PEO Name   Patrick Kaltenbach Patrick Kaltenbach Patrick Kaltenbach Patrick Kaltenbach Patrick Kaltenbach  
PEO One [Member] | PEO [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     $ 4,902,841        
PEO One [Member] | PEO [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     5,518,423        
PEO One [Member] | PEO [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     634,953        
PEO One [Member] | PEO [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]              
Pay vs Performance Disclosure [Table]              
Adjustment to Compensation Amount     $ 806,668        
PEO Two [Member]              
Pay vs Performance Disclosure [Table]              
PEO Total Compensation Amount [6],[7]             816,467
PEO Actually Paid Compensation Amount [6],[8]             $ 17,202,243
PEO Name Olivier Filliol           Olivier Filliol
[1] The dollar amounts reported in column (d) represent the average of the amounts reported for the company’s named executive officers (NEOs) as a group (excluding the PEOs) in the “Total” column of the Summary Compensation Table in each applicable year. The non-PEO NEOs were Shawn P. Vadala and Marc de La Guéronnière for all periods shown above. For 2021, Peter Aggersbjerg, the Head of Divisions during those periods, was also an NEO. For 2021 through 2024, Gerry Keller, Head of Process Analytics, was also an NEO. For 2022, 2023, 2024, and 2025 Richard Wong is also an NEO. For 2025, Susan Graham-Bryce, Chief Human Resources Officer, is also an NEO.
[2] The dollar amounts reported in column (e) represent the average amount of “Compensation Actually Paid” to the NEOs as a group (excluding the PEOs) for the corresponding year. Compensation Actually Paid is calculated pursuant to the requirements of Item 402(v) of Regulation S-K, adjusting Summary Compensation table totals to reflect equity award valuation changes at certain points over time. It does not reflect dollar amounts actually paid to our NEOs. The NEOs included for purposes of these calculations are described in footnote 4.
[3] Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: SIC Code 3826 Index – Laboratory Analytical Instruments.
[4] The dollar amounts reported represent the amount of net income reflected in the company’s audited financial statements for the applicable year.
[5] While the company uses numerous financial and non-financial performance measures for the purpose of evaluating performance for the company’s compensation programs, the company has determined that non-GAAP earnings per share is the financial performance measure that, in the company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link compensation actually paid to the company’s NEOs (including the PEOs), for the most recently completed fiscal year, to company performance.
[6] In 2021, the company had two Principal Executive Officers (PEO). Olivier Filliol (PEO – 2, in the table above) was the PEO until April 1, 2021. Patrick Kaltenbach (PEO – 1, in the table above) is the PEO since April 1, 2021.
[7] The dollar amounts reported in column (b) are the amounts of total compensation reported for our Principal Executive Officer(s) for each corresponding year in the “Total” column of the Summary Compensation Table.
[8] The dollar amounts reported in column (c) represent the “Compensation Actually Paid” to the applicable PEO for the corresponding year. Compensation Actually Paid is calculated pursuant to the requirements of Item 402(v) of Regulation S-K, adjusting Summary Compensation Table totals to reflect equity award valuation changes at certain points over time. It does not reflect dollar amounts actually paid to our PEOs.