8-KOther EventsExhibits & Filings

THERMO FISHER SCIENTIFIC INC. 8-K Report, Corporate Update (May 2, 2014)

Filed May 2, 2014For Securities:TMO

Summary

This 8-K filing from Thermo Fisher Scientific Inc. (TMO), dated May 2, 2014, primarily announces a significant change in the company's reporting structure. Following the completion of its acquisition of Life Technologies, TMO has established a new reporting segment called "Life Sciences Solutions." This new segment will incorporate the majority of the former Life Technologies businesses along with Thermo Fisher's existing biosciences businesses. This strategic reclassification aims to better reflect the integrated operations and financial performance post-acquisition. The company is also updating its Annual Report on Form 10-K for the year ended December 31, 2013, via Exhibit 99.1 to align with these new segment definitions. Importantly, management states that these segment reclassifications had no impact on the company's historical reported net income or earnings per share. Investors should note that this filing primarily addresses structural and reporting changes, and further updates should be sought in subsequent filings for events occurring after February 27, 2014.

Key Highlights

  • 1Thermo Fisher Scientific has established a new "Life Sciences Solutions" reporting segment following the acquisition of Life Technologies.
  • 2The "Life Sciences Solutions" segment includes the majority of former Life Technologies businesses and Thermo Fisher's biosciences businesses.
  • 3The global chemicals business has been moved from the "Biosciences" (within Analytical Technologies) to the "Laboratory Products and Services" segment.
  • 4The "Analytical Technologies" segment has been renamed "Analytical Instruments" to reflect business transfers.
  • 5Two small specialty diagnostics businesses from Life Technologies are now part of the "Specialty Diagnostics" segment.
  • 6The segment reclassification is effective January 1, 2014, and its results are reflected in the Q1 2014 10-Q filing.
  • 7The segment reclassification did not impact historical reported net income or earnings per share.

Frequently Asked Questions

The main purpose of this filing is to announce and explain significant changes to Thermo Fisher Scientific's reporting segments following the acquisition of Life Technologies. It details how the company's financial performance will now be reported across four segments, including the new 'Life Sciences Solutions' segment.

No, the filing explicitly states that the segment reclassification had no effect on the company's historical reported net income or earnings per share. This indicates that the changes are primarily structural for reporting purposes.

The results of the new segment structure are reported in the company's first quarter 2014 Quarterly Report on Form 10-Q, filed on May 2, 2014. Exhibit 99.1 in this 8-K updates the relevant sections of the 2013 Form 10-K to reflect these changes for all periods presented. However, for events occurring after February 27, 2014, investors should refer to subsequent SEC filings.

The new 'Life Sciences Solutions' segment comprises the majority of the businesses acquired from Life Technologies, combined with Thermo Fisher's pre-existing biosciences businesses.