ILLUMINA, INC.ILMN

ILLUMINA, INC. Segments Disclosure

10-KFiled Feb 12, 20263 min read
12. SEGMENT AND GEOGRAPHIC INFORMATION
Reportable Segment Information
As of December 28, 2025, we have one reportable segment, Core Illumina. Prior to the Spin-Off of GRAIL, on June 24, 2024, our reportable segments included both Core Illumina and GRAIL. See note 8. GRAIL Spin-Off for details. We continue to disclose certain historical information for GRAIL prior to the Spin-Off. Segment information is consistent with how our Chief Operating Decision Maker (CODM), who is our Chief Executive Officer, reviews financial information, makes operating decisions, allocates resources, and assesses performance. We also consider the way budgets and forecasts are prepared and reviewed and the basis on which executive compensation is determined.
Core Illumina: Core Illumina’s products and services serve customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions. Core Illumina sells products and provides services to GRAIL, and vice versa, in accordance with contractual agreements between the entities.
GRAIL: GRAIL is a healthcare company focused on early detection of multiple cancers. Prior to the Spin-Off of GRAIL into a separate, independent public company, GRAIL was required to be held and operated separately and independently from Illumina pursuant to the transitional measures ordered by the European Commission.
Our CODM allocates resources and evaluates business performance based on revenues and net income (loss). Net income (loss) is used in the annual budgeting and monthly forecasting processes and to monitor and assess budgeted/forecasted versus actual results. Our CODM does not evaluate segments using asset information. The accounting policies for segments are the same as those described in the summary of significant accounting policies.
The following tables present selected financial information with respect to segments for the periods presented:
In millions202520242023
Core Illumina:
Revenue (1)
$4,343 $4,332 $4,438 
Less:
Cost of revenue1,473 1,424 1,582 
Research and development967 988 1,030 
Selling and marketing618 638 648 
General and administrative468 262 600 
Goodwill and intangible impairment
— 3 6 
Legal contingency and settlement
10 (456)20 
Core Illumina income from operations807 1,473 552 
GRAIL:
Revenue
— 55 93 
Total operating expenses (2)
— 2,360 1,714 
Consolidated other income (expense), net279 (346)(48)
Consolidated provision for income taxes
236 44 44 
Intersegment eliminations
— (1)— 
Consolidated net income (loss)
$850 $(1,223)$(1,161)
_____________
(1)Core Illumina revenue for 2024 and 2023 included intercompany revenue of $15 million and $26 million, respectively.
(2)GRAIL operating expenses are inclusive of cost of revenue, research and development, selling and marketing, general and administrative, and goodwill and intangible impairment for the comparative periods prior to the Spin-Off on June 24, 2024.
 In millions202520242023
Depreciation and amortization:
Core Illumina$270 $280 $273 
GRAIL— 74 159 
Consolidated depreciation and amortization$270 $354 $432 
Capital expenditures:
Core Illumina$148 $137 $183 
GRAIL— 5 13 
Eliminations— — (1)
Consolidated capital expenditures$148 $142 $195 
Geographic Data
Long-lived assets, consisting of property and equipment and operating lease right-of-use assets, were as follows:
In millionsDecember 28,
2025		December 29,
2024
United States$660 $750 
Singapore281 279 
United Kingdom119 124 
Other countries69 81 
Total long-lived assets, net
$1,129 $1,234 
Refer to note 2. Revenue for revenue by geographic area.
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Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 12, 2025
2023Feb 16, 2024
2022Feb 18, 2022
2021Feb 17, 2021
2019Feb 11, 2020
2018Feb 12, 2019
2017Feb 13, 2018
2016Mar 2, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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