LABCORP HOLDINGS INC.LH

LABCORP HOLDINGS INC. Segments Disclosure

10-KFiled Feb 24, 20263 min read
.  BUSINESS SEGMENT INFORMATION
The following table is a summary of segment information for the year ended December 31, 2025, 2024, and 2023. The “management approach” has been used to present the following segment information. This approach is based upon the way the management of the Company organizes segments within an enterprise for making operating decisions and assessing performance. Financial information is reported on the basis that it is used internally by the CODM for evaluating segment performance and deciding how to allocate resources to segments. The Company’s chief executive officer has been identified as the CODM.
The Company’s CODM uses segment operating income to evaluate segment performance and to allocate resources. This segment performance measure excludes the amortization of intangibles and other assets, restructuring and other charges, goodwill and other asset impairments, and certain corporate charges for items such as transaction costs, and other special items. Other operating expenses are comprised primarily of rent, maintenance, sendout testing, utilities, travel and entertainment, and other segment expenses, including shipping costs for Dx. Segment asset information is not presented because it is not used by the CODM.
Year Ended December 31, 2025
Revenues:DxBLSIntercompany eliminations and otherLHI
Revenues$10,876.5 $3,098.2 $(23.0)$13,951.7 
Operating Earnings:
Labor4,687.6 1,221.6 
Supplies2,357.0 478.5 
Shipping costs398.8 
Depreciation258.8 116.0 
Other operating expenses1,793.2 384.8 
Segment operating income$1,779.9 $498.5 $2,278.4 
General corporate and unallocated expenses(482.2)
Amortization of intangibles and other assets(280.0)
Restructuring and other charges(127.2)
Goodwill and other asset impairments(4.3)
Total Operating income1,384.7 
Other (expense) income:
Interest expense(224.1)
Investment income15.2 
Equity method loss, net(13.3)
Other, net(55.0)
  Earnings from operations before income taxes
$1,107.5 
Year Ended December 31, 2024
Revenues:DxBLSIntercompany eliminations and otherLHI
Revenues$10,144.3 $2,922.6 $(58.0)$13,008.9 
Operating Earnings:
Labor4,438.7 1,165.3 
Supplies2,209.6 441.9 
Shipping costs365.8 
Depreciation259.0 122.6 
Other operating expenses1,630.7 368.1 
Segment operating income$1,606.3 $458.9 $2,065.2 
General corporate and unallocated expenses(670.8)
Amortization of intangibles and other assets(256.4)
Restructuring and other charges(46.0)
Goodwill and other asset impairments(5.3)
Total Operating income1,086.7 
Other (expense) income:
Interest expense(208.3)
Investment income22.3 
Equity method loss, net(1.4)
Other, net60.2 
  Earnings from operations before income taxes
$959.5 
Year Ended December 31, 2023
Revenues:DxBLSIntercompany eliminations and otherLHI
Revenues$9,415.1 $2,774.2 $(27.7)$12,161.6 
Operating Earnings:
Labor4,095.7 1,094.0 
Supplies2,066.0 452.2 
Shipping costs333.0 
Depreciation236.1 112.5 
Other operating expenses1,426.0 386.2 
Segment operating income$1,591.3 396.3 $1,987.6 
General corporate and unallocated expenses(644.1)
Amortization of intangibles and other assets(219.8)
Restructuring and other charges(49.1)
Goodwill and other asset impairments(349.0)
Total Operating income725.6 
Other (expense) income:
Interest expense(199.6)
Investment income28.8 
Equity method income, net(1.4)
Other, net15.5 
  Earnings from continuing operations before income taxes
$568.9 
Geographic distribution of Property, plant, and equipment, net:

Year Ended December 31,
20252024
North America$2,587.1 $2,576.1 
Europe370.4 355.5 
Other124.0 113.8 
Total Property, plant, and equipment, net$3,081.5 $3,045.4 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 26, 2024
2022Feb 28, 2023
2021Feb 25, 2022
2020Feb 25, 2021
2019Feb 28, 2020
2018Feb 28, 2019
2017Feb 27, 2018

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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