8-KRegulation FDExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Regulation FD Disclosure (Jan 5, 2022)

Filed January 5, 2022For Securities:A

Summary

Agilent Technologies, Inc. (A) filed an 8-K on January 5, 2022, to announce a significant change in its organizational structure, effective for financial reporting starting with the quarter ending January 31, 2022. This restructuring aims to better support growth strategies and enhance customer focus. The core of the change involves reallocating certain business lines between the Agilent CrossLab segment and the Life Sciences and Applied Markets segment. Specifically, the chemistries and supplies business and the remarketed instruments business will move from CrossLab to Life Sciences and Applied Markets. Concurrently, service revenue and cost of sales related to the BioTek acquisition will shift from the Life Sciences and Applied Markets segment to the Agilent CrossLab segment. Despite these internal shifts, Agilent will maintain its three distinct reportable business segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company is providing selected historical segment information, adjusted for these changes, to allow investors to analyze performance under the new structure. This filing is furnished under Regulation FD and does not constitute a formal filing for Section 18 purposes.

Key Highlights

  • 1Agilent Technologies is implementing an organizational restructuring to drive growth and customer focus.
  • 2The changes will impact the reporting structure of its business segments starting from the fiscal quarter ending January 31, 2022.
  • 3The chemistries and supplies, and remarketed instruments businesses are moving from the Agilent CrossLab segment to the Life Sciences and Applied Markets segment.
  • 4Service revenue and cost of sales from the BioTek acquisition will be reclassified from Life Sciences and Applied Markets to the Agilent CrossLab segment.
  • 5The company will continue to report with three distinct business segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab.
  • 6Prior period financial information will be restated to reflect the new segment reporting structure.
  • 7Exhibit 99.1 provides selected historical segment data (fiscal years 2019-2021 and interim periods) adjusted for the new structure.

Frequently Asked Questions

The primary goal of the reorganization is to better enable Agilent's growth strategies and strengthen its focus on customers by realigning certain business operations within its reporting segments.

While there are internal reallocations, Agilent will continue to operate and report its financial results across three core business segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The changes primarily involve moving specific product/service lines between the Life Sciences and Applied Markets and Agilent CrossLab segments.

The new reporting structure will be reflected in Agilent's financial statements beginning with the fiscal quarter ending January 31, 2022. Prior periods will also be adjusted retrospectively to ensure comparability.

No, this specific 8-K filing is furnished under Regulation FD (Fair Disclosure) and includes selected segment information. It is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it does not alter the regulatory oversight of the company's securities or subject the company to Section 18 liabilities. It's primarily for informational transparency.