8-KOther EventsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Corporate Update (Aug 3, 2012)

Filed August 3, 2012For Securities:A

Summary

Agilent Technologies, Inc. (A) filed an 8-K on August 3, 2012, to announce a significant change in its business segment reporting structure, effective from the third quarter of fiscal year 2012. The company is reorganizing its operations into four distinct segments: electronic measurement, life sciences, chemical analysis, and diagnostics and genomics. This change is primarily driven by how the company's chief operating decision maker views and evaluates its business operations, considering factors like technology, customer solutions, and manufacturing. The most impactful aspect for investors is the creation of a new 'diagnostics and genomics' segment. This segment combines a portion of the previous life sciences segment with the recently acquired Dako A/S business. The company states this restructuring will be reflected retrospectively, allowing for a more consistent view of historical segment performance. Investors should note that the Dako acquisition's financial information will be filed separately by September 6, 2012.

Key Highlights

  • 1Agilent is restructuring its business segments into four categories: electronic measurement, life sciences, chemical analysis, and diagnostics and genomics, effective Q3 FY2012.
  • 2A new 'diagnostics and genomics' segment has been created, integrating the Dako A/S acquisition with a portion of the prior life sciences segment.
  • 3The change in segment reporting is based on the operational view of Agilent's chief operating decision maker for resource allocation and performance assessment.
  • 4The Dako A/S acquisition, completed June 21, 2012, is a key driver for the formation of the new diagnostics and genomics segment.
  • 5The company will provide retrospective reporting of historical segment data to reflect the new structure, enhancing comparability.
  • 6Financial statements will not be revised; this 8-K focuses on segment reporting changes and provides summary historical segment data.
  • 7Detailed financial information for the Dako acquisition is expected by September 6, 2012.

Frequently Asked Questions

The primary purpose of this filing is to inform investors about Agilent Technologies' change in its business segment reporting structure, effective from the third quarter of fiscal year 2012. It outlines the new four-segment structure and provides retrospective summary data for these segments.

The Dako A/S acquisition, completed in June 2012, is a significant factor in the creation of Agilent's new 'diagnostics and genomics' segment. This new segment comprises the Dako business along with a portion of Agilent's existing life sciences operations.

No, this change in segment reporting does not revise or restate Agilent's historical GAAP Consolidated Statements of Earnings, Balance Sheets, Shareholders' Equity, or Cash Flows. The company is providing a summary of historical segment results on a basis consistent with the new reporting structure for analytical purposes.

The four new business segments are: electronic measurement, life sciences, chemical analysis, and diagnostics and genomics.