ILLUMINA INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
10. Segment Information
We havetwo reportable segments, Core Illumina and GRAIL. We completed the Spin-Off of GRAIL on June 24, 2024. Refer to note 2. GRAIL Spin-Off for additional details. We report segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Maker (CODM) for making decisions and assessing performance as the source of our reportable segments. The CODM allocates resources and assesses the performance of each operating segment using information about its revenue and income (loss) from operations. Our CODM does not evaluate our operating segments using discrete asset information. We do not allocate expenses between segments. Core Illumina sells products and provides services to GRAIL, and vice versa, in accordance with contractual agreements between the entities.
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 includes all of our operations, excluding the results of GRAIL.
GRAIL: GRAIL is a healthcare company focused on early detection of multiple cancers.
| In millions | Q2 2024 | Q2 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Revenue: | ||||
| Core Illumina | $1,092 | $1,159 | $2,148 | $2,235 |
| GRAIL | 29 | 22 | 55 | 42 |
| Eliminations | (9) | (5) | (15) | (14) |
| Consolidated revenue | $1,112 | $1,176 | $2,188 | $2,263 |
| Income (loss) from operations: | ||||
| Core Illumina | $442 | $115 | $558 | $257 |
| GRAIL | (2,078) | (204) | (2,305) | (408) |
| Eliminations | (1) | 1 | (2) | (1) |
| Consolidated loss from operations | $(1,637) | $(88) | $(1,749) | $(152) |
Total other expense, net primarily relates to Core Illumina, and we do not allocate income taxes to our segments.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.