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Business Segment Information (Notes)
 3 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segment Information
10. BUSINESS SEGMENT INFORMATION
We operate and report our financial information in three reportable business segments: Healthcare, AST, and Life Sciences. Non-allocated operating costs that support the entire Company and items not indicative of operating trends are excluded from segment operating income.
Our Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites. Our products and services range from infection prevention consumables and capital equipment, as well as services to maintain that equipment; to the repair of re-usable procedural instruments; to outsourced instrument reprocessing services. In addition, our procedural products also include endoscopy accessories, instruments, and capital equipment infrastructure used primarily in operating rooms, ambulatory surgery centers, endoscopy suites, and other procedural areas.
Our AST segment supports medical device and pharmaceutical manufacturers through a global network of contract sterilization and laboratory testing facilities, and integrated sterilization equipment and control systems. Our technology-neutral offering supports Customers every step of the way, from testing through sterilization.
Our Life Sciences segment provides a comprehensive offering of products and services designed to support biopharmaceutical and medical device research and manufacturing facilities, in particular those focused on aseptic manufacturing. Our portfolio includes a full suite of capital equipment, consumable products, equipment maintenance and specialty services.
Our chief operating decision maker ("CODM") is our President and Chief Executive Officer ("CEO"). The CEO is responsible for performance assessment and resource allocation. The CEO regularly receives discrete financial information about each reportable segment and uses this information to assess performance and allocate resources. This information includes Revenues and Cost of revenues; Selling, general, and administrative expenses; and Research and development expenses for each reportable segment.
We disclose a measure of segment income that is consistent with the way management operates and views the business. The accounting policies for reportable segments are the same as those for the consolidated Company.
For the three months ended June 30, 2026 and 2025, revenues from a single Customer did not represent ten percent or more of the Healthcare, AST or Life Sciences segment revenues.
Additional information regarding our segments is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2026, which was filed with the SEC on May 29, 2026.
The following table compares business segment revenues and business segment and Corporate operating income for the three months ended June 30, 2026 and 2025:
Three Months Ended June 30, 2026
(in millions)HealthcareASTLife SciencesCorporateCompany
Revenues$1,048.3 $297.6 $146.7 $— $1,492.7 
Segment expenses
Cost of revenues589.1 140.1 66.0 
Selling, general, and administrative173.9 14.0 16.4 
Research and development25.1 0.6 2.5 
Total income from operations before adjustments$260.2 $142.9 $61.8 $(110.1)$354.8 
Less: Adjustments
Amortization of acquired intangible assets (1)
65.3 
Acquisition and integration related charges (2)
1.5 
Tax restructuring costs (3)
0.3 
Amortization of inventory and property "step up" to fair value (1)
1.8 
Total income from operations
$285.8 
Three Months Ended June 30, 2025
(in millions)HealthcareASTLife SciencesCorporateCompany
Revenues$974.7 $281.2 $135.2 $— $1,391.1 
Segment expenses
Cost of revenues557.4 129.9 58.0 
Selling, general, and administrative159.1 13.7 16.0 
Research and development22.7 0.9 2.4 
Total income from operations before adjustments$235.5 $136.7 $58.7 $(114.0)$316.9 
Less: Adjustments
Amortization of acquired intangible assets (1)
67.1 
Acquisition and integration related charges (2)
0.5 
Tax restructuring costs (3)
0.2 
Amortization of inventory and property "step up" to fair value (1)
1.4 
Restructuring charges (4)
1.8 
Total income from operations
$246.0 
(1) For more information regarding our recent acquisitions, refer to Note 3 titled, "Business Acquisitions."
(2) Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
(3) Costs incurred in tax restructuring.
(4) For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."
Assets include the current and long-lived assets directly attributable to the segment based on the management of the location or on utilization. Certain corporate assets were allocated to the reportable segments based on revenues. Assets attributed to sales and distribution locations are only allocated to the Healthcare and Life Sciences segments.
Individual facilities, equipment, and intellectual properties are utilized by both the Healthcare and Life Sciences segments at varying levels over time. As a result, an allocation of total assets, capital expenditures, and depreciation and amortization is not meaningful to the individual performance of the Healthcare and Life Sciences segments. Therefore, their respective amounts are reported together.
(in millions)June 30,
2026		March 31,
2026
Assets
Healthcare and Life Sciences$7,141.9 $7,146.8 
AST3,594.2 3,590.4 
Total assets
$10,736.1 $10,737.2 
Three Months Ended June 30,
(in millions)20262025
Capital Expenditures
Healthcare and Life Sciences$42.2 $44.4 
AST45.3 49.2 
Total Capital Expenditures$87.5 $93.6 
Depreciation, Depletion, and Amortization
Healthcare and Life Sciences $81.0 $83.1 
AST42.7 36.3 
Total Depreciation, Depletion, and Amortization$123.8 $119.4 
Financial information for each of our United States and international geographic areas is presented in the following table. Revenues are attributed to the geographic areas based on the location of these operations and their Customers. Property, plant, and equipment, net are those assets that are identified within the operations in each geographic area.
(in millions)June 30,
2026		March 31,
2026
Property, Plant, and Equipment, Net
Ireland$87.6 $88.1 
United States1,110.9 1,094.4 
Other locations973.2 978.7 
Property, Plant, and Equipment, Net$2,171.7 $2,161.2 
Three Months Ended June 30,
(in millions)20262025
Revenues:
Ireland$29.0 $22.5 
United States1,090.6 1,025.6 
Other locations373.2 342.9 
Total Revenues
$1,492.7 $1,391.1 
Additional information regarding our fiscal 2027 and fiscal 2026 revenue is disclosed in the following table:
Three Months Ended June 30,
(in millions)20262025
Healthcare:
Capital equipment$230.5 $227.3 
Consumables391.9 358.9
Service425.9 388.5 
Total Healthcare Revenues $1,048.3 $974.7 
AST:
Capital equipment$1.4 $1.6 
Service296.3 279.6 
Total AST Revenues$297.6 $281.2 
Life Sciences:
Capital equipment$31.3 $26.6 
Consumables81.5 75.3 
Service34.0 33.3 
Total Life Sciences Revenues$146.7 $135.2 
Total Revenues$1,492.7 $1,391.1