13. SEGMENT INFORMATION
Information regarding industry segments at June 30, 2026 and 2025 and for the three months then ended are as follows (in millions): | | | | | | | | | | | | | | | | | | | Life
Science | | Clinical
Diagnostics | | | | Net sales | 2026 | $ | 252.0 | | | $ | 399.0 | | | | | 2025 | $ | 262.8 | | | $ | 388.8 | | | | | | | | | | | Cost of goods sold | 2026 | $ | 108.5 | | | $ | 196.7 | | | | | 2025 | $ | 114.5 | | | $ | 191.8 | | | | | | | | | | | | Segment gross profit | 2026 | $ | 143.5 | | | $ | 202.3 | | | | | 2025 | $ | 148.3 | | | $ | 197.0 | | | | | | | | | | | Depreciation and amortization | 2026 | $ | 18.2 | | | $ | 22.9 | | | | | 2025 | $ | 17.8 | | | $ | 22.8 | | | | | | | | | | | Segment assets | 2026 | $ | 301.9 | | | $ | 478.7 | | | | | 2025 | $ | 309.8 | | | $ | 489.0 | | | |
Information regarding industry segments at June 30, 2026 and 2025 and for the six months then ended are as follows (in millions): | | | | | | | | | | | | | | | | | | | Life
Science | | Clinical
Diagnostics | | | | Net sales | 2026 | $ | 480.5 | | | $ | 762.6 | | | | | 2025 | $ | 491.4 | | | $ | 745.6 | | | | | | | | | | | Cost of goods sold | 2026 | $ | 209.4 | | | $ | 378.5 | | | | | 2025 | $ | 214.7 | | | $ | 371.0 | | | | | | | | | | | Segment gross profit | 2026 | $ | 271.1 | | | $ | 384.1 | | | | | 2025 | $ | 276.7 | | | $ | 374.6 | | | | | | | | | | | Depreciation and amortization | 2026 | $ | 36.5 | | | $ | 45.5 | | | | | 2025 | $ | 34.8 | | | $ | 43.9 | | | | | | | | | | | | | | | | | | | | | | | | |
Segment results are presented in the same manner as we present our operations internally to make operating decisions and assess performance. The segment measure of profit and loss used by our chief operating decision maker ("CODM") is Gross Profit, which represents Net sales reduced by Cost of goods sold, and is the primary measure used by the CODM to evaluate segment performance and allocate resources.
The following reconciles total segment gross profit to net income (loss) before income taxes (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30, | | June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Segment gross profit | $ | 345.8 | | | $ | 345.3 | | | $ | 655.2 | | | $ | 651.3 | | Selling, general and administrative expense | (212.0) | | | (207.7) | | | (424.4) | | | (416.5) | | Research and development expense | (61.2) | | | (60.5) | | | (124.1) | | | (134.0) | | | Interest expense | (12.1) | | | (12.6) | | | (24.4) | | | (24.6) | | | Foreign currency exchange gains (losses), net | 0.2 | | | (1.1) | | | 2.6 | | | 1.6 | | | Gains (losses) from change in fair market value of equity securities and loan receivable | 458.0 | | | 334.4 | | | (280.2) | | | 366.2 | | | Other income, net | 23.4 | | | 16.2 | | | 47.6 | | | 53.4 | | | Net income (loss) before income taxes | $ | 542.1 | | | $ | 414.0 | | | $ | (147.7) | | | $ | 497.4 | |
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