Revvity RVTY

Selling, general and administrative expenses for fiscal year 2024 2025 were $994.1 $991.9 million, as compared to $1,022.6 $994.1 million for fiscal year 2023, 2024, a decrease of $28.5 $2.2 million, or 3%. less than 1%. As a percentage of revenue, selling, general and administrative expenses decreased to 34.7% in fiscal year 2025 from 36.1% in fiscal year 2024 from 37.2% in fiscal year 2023. 2024. Amortization of intangible assets decreased and was $194.5 million for fiscal year 2025, as compared to $215.0 million for fiscal year 2024, as compared to $217.5 2024. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, were $3.8 million for fiscal year 2023. Restructuring and other costs, net, decreased and were $17.5 million for fiscal year 2024, as compared to $26.6 million for fiscal year 2023. 2025. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and stock compensation expense related to the awards given to BioLegend employees post-acquisition, added an incremental expense of were $16.3 million for fiscal year 2024, as compared to $62.0 2024. Costs for significant environmental matters decreased expenses by $1.2 million for fiscal year 2023. 2025. Asset impairment was $22.8 million for fiscal year 2024. The above decreases were partially offset by an increase in restructuring and other costs, net, which was $55.9 million for fiscal year 2025, as compared to $17.5 million for fiscal year 2024. Restructuring and other costs, net in fiscal year 2025 primarily included charges associated with workforce reductions and facility consolidations in an effort to streamline operations, other exit costs, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities. In fiscal year 2025, severance actions associated with facility consolidations and cost reduction measures affected approximately 5% of our workforce. Significant litigation matters and settlements was $12.2 million for fiscal year 2025, as compared to $7.8 million for fiscal year 2024. Transformation costs were $9.3 million for fiscal year 2025. Purchase accounting adjustments decreased expenses by $0.5 million for fiscal year 2025, as compared to $1.7 million for fiscal year 2024, which primarily consisted of a change in fair value of contingent consideration, as compared to increasing expenses by $4.3 million for fiscal year 2023. Costs for significant environmental matters also added an incremental expense of $2.5 million for fiscal year 2023. The above decreases were partially offset by an increase in asset impairments, which added an incremental expense of $22.8 million for fiscal year 2024. Significant litigation matters and settlements added an incremental expense of $7.8 million for fiscal year 2024 and were minimal for fiscal year 2023. consideration. Excluding the factors items noted above, the net decrease in selling, general and administrative expenses was the result of increased slightly due to unfavorable changes in foreign exchange rates and investments in digital capabilities and innovation mostly offset by lower long-term incentive compensation costs, cost control and productivity initiatives and cost containment. initiatives.

In November 2024, December 2025, the FASB issued Accounting Standards Update 2024-03, Disaggregation 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the guidance in Topic 270 to improve the consistency of Income Statement Expenses (“ASU 2024-03”). interim financial reporting. ASU 2024-03 will require public 2025-11 provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose disaggregated information about specific natural expense categories underlying certain income statement expense line items. Such disclosures are required events since the end of the last annual reporting period that have a material impact on an annual and interim basis in a tabular presentation in the footnotes to the financial statements. In addition, entity. ASU 2024-03 requires public entities to disclose selling expenses on an annual and interim basis. The guidance 2025-11 is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early 2027, including interim periods within those fiscal years, with early adoption is permitted. The Company is in the process of determining currently evaluating the impact of this guidance on its financial statements and disclosures. adopting ASU 2025-11.

We are subject to data privacy and information security laws and regulations that apply to the collection, transmission, storage and use of personally identifying information, which among other things, impose certain requirements relating to the privacy, security and transmission of personal information, including comprehensive regulatory systems in the United States, European Union and the United Kingdom. The legislative and regulatory landscape for privacy and data protection continues to evolve in jurisdictions worldwide, and there has been an increasing focus on privacy and data protection issues with the potential to affect our business. Failure to comply with any of these laws or regulations could result in enforcement actions against us, including fines, claims for damages by affected individuals, damage to our reputation and loss of goodwill, any of which could have a material adverse effect on our business, financial condition, results of operations or prospects.