Revvity, Inc. (RVTY) 2023年年度報告「NYSE」.pdf

《Revvity, Inc. (RVTY) 2023年年度報告「NYSE」.pdf》由會員分享，可在線閱讀，更多相關《Revvity, Inc. (RVTY) 2023年年度報告「NYSE」.pdf（116頁珍藏版）》請在三個皮匠報告上搜索。

1、New beginnings.New possibilities for the future of human health.2023 Annual Report2Revvity has tested over 800 million newborns for life-threatening diseases.3“Our transformation into Revvity was more than just a change in name.It symbolized the bold,new vision that we are embracing to redefi ne wha

2、t is possible in human health and to stand on the cutting edge of science.”Dear Shareholders,Reflecting on the moment we officially became Revvity last year,I am filled with profound gratitude for the dedication and commitment of our colleagues across the globe and the opportunity to experience that

3、 significant milestone as one team.Each day since then,we have worked together to shape our new company,transcending geographic boundaries and removing barriers to communication and collaboration.This unity has been the driving force behind our early wins,new innovations,and the incredible impact Re

4、vvity is already making on health and science.Our transformation into Revvity was more than just a change in name.It symbolized the bold,new vision that we are embracing to redefine what is possible in human health and to stand on the cutting edge of science.When we created Revvity,we did so knowing

5、 that what we were building was in a category of one.We designed the Company to be focused on higher growth,specialized areas within Life Sciences and Diagnostics.For example,we are uniquely positioned in Life Sciences with our offerings in pre-clinical research and development.The majority of our r

6、evenue in this segment is centered on selling consumables,instruments,technology licenses and services,and software,all of which help our pharma,biotech and academic customers invent revolutionary therapies.We are intentional in providing high-value,specialized products to our customers,because we k

7、now that they come to Revvity looking to investigate a previously unanswered question or achieve something that has never been done before.Similar to our Life Sciences business,in Diagnostics,we engage with specialized sectors which grow faster than the broader clinical diagnostics market by address

8、ing significant unmet needs.We benefit from strong market positions in critical areas such as autoimmunity,allergy,latent tuberculosis,newborn and prenatal screening,and next generation sequencing sample prep.We remain steadfast in continuously expanding our offerings,menus and geographic reach.The

9、uniqueness of our businesses and our distinct approach by engaging customers as strategic partners enables us to have differentiated financial performance through macroeconomic cycles.Recently,for instance,in order to help customers more rapidly move drug candidates out of the research lab and into

10、clinical trials,we began to scale our capacity to provide customers with GMP antibodies,cytokines and other consumables.Prahlad Singh,PhDPresident and CEORevvity,Inc.4From a product standpoint,nothing about our instrumentation is routine.Our recent launch in Europe of the EONIS Q system is a first o

11、f its kind workflow which streamlines molecular testing for both spinal muscular atrophy and SCID in newborns.It is a new and complete CE-IVD solution which consists of a new qPCR instrument with dedicated software and a specialized diagnostic kit.With no wash steps being needed in the new workflow,

12、clinicians are able to achieve significantly faster turnaround times with less hands-on involvement from sample to answer than existing methods.This allows for lower operating costs and greater sustainability,as fewer consumables and plasticware are required.Our new EONIS system is just one example

13、of how we are continuing to bring cutting-edge and innovative solutions to market from across the Company,benefiting both our customers and ultimately the patients they serve.With the significant number of additions to the Company over the past several years,coupled with the large divestiture we com

14、pleted in 2023,we have many areas to further optimize over the coming years to reach our full potential as a company.The significant actions we took last year,combined with further measures implemented in early 2024,have put us on a steep trajectory to further streamline and adjust our operations fo

15、r the business we have now become.It also strongly positions us to capitalize on the leverage potential that exists in our company.Ultimately,we are building Revvity for the long term,and I have never been more confident in the impact were having on the world as well as the outlook for both Revvity

16、and our industry.I am incredibly inspired by what our team around the globe achieved in 2023 as we became Revvity.New beginnings always bring new possibilities.And looking ahead to this year and beyond,the possibilities we have to revolutionize the future of human health are limitless,as is our team

17、s unwavering passion and dedication.Whether its fueling scientists to discover more and translate faster,supporting labs as they help physicians guide patient treatments,or enabling babies around the world to get a healthier start,Revvity will be there.Thank you for your continued support on this ex

18、citing journey.Regards,Prahlad5Board of DirectorsPrahlad Singh,PhDPresident and Chief Executive OfficerRevvity,Inc.Peter Barrett,PhD Partner,Atlas VentureSamuel R.ChapinRetired Executive Vice ChairmanBank of America Merrill LynchSylvie Grgoire,PharmDChair of the BoardCervoMed,Inc.Michael A.Klobuchar

19、Executive Vice President and Chief Strategy OfficerMerck&Co.,Inc.Michelle McMurry-Heath,MD,PhD Consultant to Biotechnology IndustryAlexis P.MichasManaging PartnerJuniper Investment Company,LLCSophie V.Vandebroek,PhDFormer Vice President,Emerging Technology Partnerships IBM Corporation Michel Vounats

20、osFormer Chief Executive OfficerBiogen Inc.Frank Witney,PhDFormer Chief Executive OfficerAffymetrix,Inc.Pascale WitzFounder and PresidentPWH AdvisorsCorporate OfficersPrahlad Singh,PhDPresident and Chief Executive OfficerJoel S.GoldbergSenior Vice President,Administration,GeneralCounsel and Secretar

21、yMax KrakowiakSenior Vice President and Chief Financial OfficerDaniel R.TereauSenior Vice President,Strategy and Business DevelopmentMiriame VictorSenior Vice President,Chief Commercial OfficerTajinder VohraSenior Vice President,Global OperationsAnita Gonzales Vice President and Controller Corporate

22、 Governance UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,DC 20549 _ Form 10-K (Mark One)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31,2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES

23、EXCHANGE ACT OF 1934 For the transition period from _ to _ Commission file number 001-5075 _ Revvity,Inc.(Exact name of registrant as specified in its charter)Massachusetts 04-2052042(State or other jurisdiction of incorporation or organization)(I.R.S.Employer Identification No.)940 Winter Street,Wa

24、ltham,Massachusetts 02451(Address of Principal Executive Offices)(Zip Code)(781)663-6900 (Registrants telephone number,including area code)_ Securities registered pursuant to Section 12(b)of the Act:Title of Each Class Trading Symbol(s)Name of Each Exchange on Which Registered Common Stock,$1 par va

25、lue per share RVTY The New York Stock Exchange 1.875%Notes due 2026 RVTY 26 The New York Stock Exchange Securities registered pursuant to Section 12(g)of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes No Indicate

26、 by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of the Act.Yes No Indicate by check mark whether the registrant:(1)has filed all reports required to be filed by Section 13 or Section 15(d)of the Securities Exchange Act of 1934 during the preced

27、ing 12 months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitt

28、ed pursuant to Rule 405 of Regulation S-T(232.405 of this chapter)during the preceding 12 months(or for such shorter period that the registrant was required to submit and post such files).Yes No Indicate by check mark whether the registrant is a large accelerated filer,an accelerated filer,a non-acc

29、elerated filer,a smaller reporting company,or emerging growth company.See the definitions of“large accelerated filer,”“accelerated filer,”“smaller reporting company,”and emerging growth company in Rule 12b-2 of the Exchange Act.Large accelerated filer Accelerated filer Non-accelerated filer Smaller

30、reporting company Emerging growth company If an emerging growth company,indicate by check mark whether the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)of the Exchange Act.Indic

31、ate by check mark whether the registrant has filed a report on and attestation to its managements assessment of the effectiveness of its internal control over financial reporting under Section 404(b)of the Sarbanes-Oxley Act(15 U.S.C.7262(b)by the registered public accounting firm that prepared or i

32、ssued its audit report.If securities are registered pursuant to Section 12(b)of the Act,indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.Indicate by check mark whether any of

33、those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrants executive officers during the relevant recovery period pursuant to 240.10D-1(b).Indicate by check mark whether the registrant is a shell company(as defined in

34、 Rule 12b-2 of the Exchange Act).Yes No The aggregate market value of the common stock,$1 par value per share,held by non-affiliates of the registrant on June 30,2023,the last business day of the registrants most recently completed second fiscal quarter,was$14,697,780,722 based upon the last reporte

35、d sale of$118.79 per share of common stock on June 30,2023.As of February 23,2024,there were outstanding 123,529,821 shares of common stock,$1 par value per share.DOCUMENTS INCORPORATED BY REFERENCE Portions of Revvity,Inc.s Definitive Proxy Statement for its Annual Meeting of Shareholders to be hel

36、d on April 23,2024 are incorporated by reference into Part III of this Form 10-K.TABLE OF CONTENTS Page PART I Item 1.Business 3 Item 1A.Risk Factors 14 Item 1B.Unresolved Staff Comments 23 Item 1C.Cybersecurity Disclosures 24 Item 2.Properties 24 Item 3.Legal Proceedings 25 Item 4.Mine Safety Discl

37、osures 25 PART II Item 5.Market for Registrants Common Equity,Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6.Reserved 29 Item 7.Managements Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.Quantitative and Qualitative Disclosures Ab

38、out Market Risk 41 Item 8.Financial Statements and Supplementary Data 43 Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91 Item 9A.Controls and Procedures 91 Item 9B.Other Information 94 Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Insp

39、ections 94 PART III Item 10.Directors,Executive Officers and Corporate Governance 95 Item 11.Executive Compensation 95 Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 95 Item 13.Certain Relationships and Related Transactions,and Director Indepen

40、dence 95 Item 14.Principal Accountant Fees and Services 96 PART IV Item 15.Exhibits and Financial Statement Schedules 97 Item 16.Form 10-K Summary 103 Signatures 103 3 PART I Item 1.Business Overview We are a leading provider of health science solutions,technologies,expertise and services that deliv

41、er complete workflows from discovery to development,and diagnosis to cure.Revvity is revolutionizing whats possible in healthcare,with specialized focus areas in translational multi-omics technologies,biomarker identification,imaging,prediction,screening,detection and diagnosis,informatics and more.

42、Our headquarters are in Waltham,Massachusetts,and we market our products and services in more than 160 countries.As of December 31,2023,we employed approximately 11,500 employees.Effective as of April 26,2023,we changed our name from PerkinElmer,Inc.to Revvity,Inc.Effective as of May 16,2023,we chan

43、ged the ticker symbol for our common stock to“RVTY”and the ticker symbol for our 1.875%Notes due 2026 to“RVTY 26”.Our common stock is listed on the New York Stock Exchange under the symbol“RVTY”and we are a component of the S&P 500 Index.We maintain a website with the address http:/.We are not inclu

44、ding the information contained in our website as part of,or incorporating it by reference into,this annual report on Form 10-K.We make available free of charge through our website our annual reports on Form 10-K,quarterly reports on Form 10-Q,current reports on Form 8-K and amendments to these repor

45、ts,as soon as reasonably practicable after we electronically file these materials with,or otherwise furnish them to,the Securities and Exchange Commission.Our Strategy Our strategy is to develop and deliver innovative products,services and solutions in high-growth markets that utilize our knowledge

46、and expertise to address customers critical needs and drive scientific breakthroughs.To execute on our strategy and accelerate revenue growth,we focus on broadening our offerings through both the investment in research and development and the acquisition of innovative technology.Our strategy include

47、s:Strengthening our position within key markets by expanding our global product and service offerings,maintaining superior product quality and driving an enhanced customer experience;Attracting,retaining and developing talented and engaged employees;Accelerating transformational innovation through b

48、oth internal research and development and third-party collaborations and alliances;Augmenting growth in both of our core business segments,Life Sciences and Diagnostics,through strategic acquisitions and licensing;Engraining focused operational excellence to improve organizational efficiency and agi

49、lity;and Opportunistically utilizing our share repurchase programs to help drive shareholder value.Recent Developments As part of our strategy to grow our core businesses and transform our portfolio,we have recently taken the following actions:Discontinued Operations in Fiscal Year 2023:On March 13,

50、2023,we completed the previously announced sale(the“Closing”)of certain assets and the equity interests of certain entities constituting our Applied,Food and Enterprise Services businesses(the“Business”)to PerkinElmer Topco,L.P.(formerly known as Polaris Purchaser,L.P.)(the“Purchaser”),a Delaware li

51、mited partnership owned by funds managed by 4 affiliates of New Mountain Capital L.L.C.(the“Sponsor”),for an aggregate purchase price of up to$2.45 billion.We received approximately$2.13 billion in cash proceeds,before transaction costs and subject to post-closing adjustments.We are entitled to an a

52、dditional$75.0 million in proceeds as consideration for our ceasing the use of the PerkinElmer brand and related trademarks and transferring them to the Purchaser.This consideration is expected to be received in installments through the first half of 2025.In addition,we are entitled to additional co

53、nsideration of up to$150.0 million that is contingent on the exit valuation the Sponsor and its affiliated funds receive on a sale or other capital events related to the Business.Business Segments and Products We report our business in two segments:Life Sciences and Diagnostics.Life Sciences Segment

54、 Our comprehensive portfolio of technologies helps life sciences researchers better understand diseases and develop treatments.We provide a broad suite of products,solutions and services that facilitate optimized workflows,increase productivity,and accelerate every stage of the drug discovery and de

55、velopment pipeline.Our offerings span the areas of cell,gene,and protein research,enabling scientists to work smarter,make research breakthroughs,and transform those breakthroughs into real-world outcomes.We partner with global pharmaceutical,biotech and contract research organizations,as well as ac

56、ademic institutions,to enable them to discover and develop better treatments and therapeutics to fight disease faster and more efficiently.Principal Products:Our principal products and services for Life Sciences applications include the following:Radiometric detection solutions,including over 750 ra

57、diochemicals and instrumentation such as the Tri-Carb and Quantulus GCT families of liquid scintillation analyzers,Wizard2 Gamma counters and MicroBeta2 plate based LSA,which are used for beta,gamma and luminescence counting in microplate and vial formats utilized in research,environmental and drug

58、discovery applications.The Opera Phenix Plus high-content screening system,which is used for sensitive and high-speed phenotypic drug screening of complex cellular models.The Operetta CLS high-content analysis system,which enables scientists to reveal fine sub-cellular details from everyday assays a

59、s well as more complex studies,for example using live cells,3D and stem cells.Reagents and solutions for microscopy and imaging applications.These include PhenoVue cellular imaging reagents and cell painting kits,PhenoPlate(formerly CellCarrier Ultra)cellular imaging microplates and GrowDex hydrogel

60、s,fluorophore-conjugated and enzyme-conjugated antibodies,as well as buffers and solutions,such as our Ce3D collection of buffers for 3D tissue imaging.The MuviCyte live-cell imaging system,designed to operate inside a cell-culture incubator,enabling researchers to study cellular behaviors and pathw

61、ays in living cells to gain a deeper understanding of functions,disease mechanisms and responses to treatments.The Signals Image Artist next-generation image analysis and management platform for drug discovery research,to help scientists process and analyze high-content screening(HCS)and cellular im

62、aging data in a matter of hours versus days or weeks,so they can make more informed decisions faster.The VICTOR Nivo multimode plate reader benchtop system,which is designed for assay development and academic labs,including those using HTRF and AlphaLISA assay technologies.The EnSight multimode plat

63、e reader benchtop system,which offers well plate imaging alongside labeled detection technologies for target-based and phenotypic assays.The EnVision multimode plate reader,which is designed for high-throughput screening laboratories,including those using HTRF,AlphaScreen and AlphaLISA assay technol

64、ogies.A wide range of homogeneous biochemical and cell-based reagents using HTRF,LANCE Ultra,DELFIA,AlphaLISA,AlphaLISA SureFire Ultra,AlphaScreen,AlphaPlex and luminescence assay technologies.5 A broad portfolio of recombinant GPCR and ion channel cell lines,including over 300 products and 120 read

65、y-to-use frozen cell lines for a wide range of disease areas.BioLegend ELISA MAX Standard Sets,ELISA MAX Deluxe Sets,LEGEND MAX ELISA Kits and RAPID MAX ELISA Kits as well as complementary solutions and buffers for immunoassays to cover more than 200 targets for human,mouse,and rat samples,many of w

66、hich are designed to assess the immune environment and its inflammatory state for vaccine,infectious disease and autoimmune disease research.BioLegend LEGENDplex bead-based reagents,which,in contrast to single analyte assays such as enzyme-linked immunosorbent assays(“ELISAs”),can quantitate up to 1

67、4 targets,from one small sample volume in a flow cytometry assay,and include both desktop and cloud-based analysis software.In vivo imaging technologies and reagents for preclinical research,comprised of the IVIS Spectrum series for 2D and 3D optical imaging and optionally integrated low-dose CT ima

68、ging and the IVIS Lumina series for benchtop 2D imaging,along with IVISbrite bioluminescent and IVISense fluorescent imaging agents,cell lines and dyes.The QuantumTM GX2 system,which enables low-dose in vivo CT imaging of multiple species and areas of anatomical interest across multiple disease area

69、s by way of high-resolution,tomographic imaging.GoInVivo as well as Ultra-LEAF and LEAF functional antibodies,which provide an affordable solution for researchers performing in vivo and ex vivo studies.Nexcelom BioScience high-throughput,microwell Celigo image cytometry system,Cellaca MX high-throug

70、hput cell counter,the new Cellaca PLX image cytometry system,and Cellometer automated cell counters,complemented by consumables and reagents,including reagents and kits for cell counting assays and cell viability,microplates,slides,and counting beads.Mimix Reference Standards,which are cell line-der

71、ived and suitable for Next Generation Sequencing,droplet-digital and Real-Time PCR as well as Sanger sequencing.The platform is agnostic for seamless integration into any quality control workflow.Dharmacon Reagents and gene modulation technologies such as RNAi that support drug discovery and develop

72、ment for greater understanding of gene function,identify genetic drivers behind human disease,develop and validate diagnostic workflows,and help deliver biotherapeutics,cellular and gene therapies for precision medicine with a portfolio of cell engineering tools.Pin-point base editing platform,which

73、 is a CRISPR-Cas9-based technology that allows researchers to make precision base changes in genomic DNA.Editing with such precision can be used to silence disease-causing genes,correct disease-associated mutations,and optimize cell therapies.CHOSOURCE platform,which was expanded to include CHO-K1 A

74、DCC+expression cell line for development of therapeutic antibodies in oncology,infectious disease and autoimmune conditions.BioLegends catalog of more than 20,000 SKUs,incorporating antibodies and a large collection of antibody conjugates and modifications as well as recombinant proteins,immunoassay

75、s and other supportive reagents and solutions for cell and molecular analysis.The T-SPOT Discovery SARS-CoV-2 research-use-only assay to investigate cell-mediated immunity related to COVID-19.Sirion Biotech consultancy services and technologies to design and manufacture viral vectors for cell and ge

76、ne therapy research and preclinical development.BioLegend best-in-class antibodies,recombinant proteins and related reagents,which are used across multiple applications and research areas,including proteogenomics,tissue,cell and protein analysis,cancer research,immunology,cell and gene therapy,stem

77、cell therapy and neuroscience.Fluorophore-conjugated antibodies,which are used in flow cytometers to characterize protein expression on the surface and in internal compartments of cells.The large collection of dyes and antibodies allows for an increasing number of conjugate options,facilitating the

78、use of bigger and better flow cytometry panels using conventional and spectral flow cytometers.Notable products are Brilliant Violet and the Spark and Fire dye series,among others.BioLegend TotalSeq reagents,which are oligonucleotide-barcoded antibodies that enable protein detection by sequencing th

79、at can be combined with traditional RNA or DNA sequencing experiments with high-parameter protein detection,including comprehensive cloud-based analysis software.Cell culture and biofunctional assay reagents,including bioactive recombinant proteins,as well as other specialized reagents such as Cell-

80、Vive T-NK Xeno-Free Serum Substitute(compliant with Good Manufacturing Practice 6 requirements(“GMP”),and other GMP-produced recombinant proteins and reagents.These products serve several markets,notably cell and gene therapy applications.BioLegends MojoSort and Lymphopure reagents for cell separati

81、on that complement our fluorophore-antibody conjugates,used for FACS(Fluorescence-activated Cell Sorting),thus covering most cell separation and cell sorting technologies and applications.Flex-T reagents that utilize peptide-loaded major histocompatibility molecules assembled into tetramers for the

82、identification of antigen-specific T cells.Our Flex-T products can be used to screen the efficacy of antigen peptides for vaccine and drug trials,as well as characterize the dominance of cancer-specific self-peptides,and more recently,SARS-CoV2 peptides for COVID-19 research.Antibodies and solutions

83、 for Western blotting.A large collection of validated antibodies,as well as supporting buffers and substrates,which provide a convenient set of tools to characterize protein size and relative expression levels in cell or tissue lysates.Signals Research Platform,which equips pharmaceutical scientists

84、 with the essential tools to gather,search,mine,analyze and visualize critical data,yielding actionable insights in an automated,predictive,and scalable manner.Within life science research and development and clinical research applications,our software accelerates innovation,development,collaboratio

85、n and research,ultimately leading to life-enhancing medical breakthroughs more quickly,promoting our vision of a healthier humankind.In addition,it also empowers scientists and formulators in specialty chemical and food sciences to analyze food,and additives,and create high-performing materials that

86、 align with sustainability initiatives,promoting energy efficiency,lower toxicity and a circular economy.Signals Notebook,a secure cloud-native electronic lab notebook(ELN)for chemistry,biology,research,and formulations.From increased collaboration to securely accessible data,Signals Notebooks accel

87、erates research and development workflows,increases collaboration,integrates with Microsoft Office and more.Signals ChemDraw,which since 1985 has provided solutions with powerful capabilities and integrations to help quickly turn ideas and drawings into publications.Signals ChemDraw automates chemic

88、al drawings and transforms them into chemical knowledge by facilitating the management,reporting and presenting of chemistry research.Signals Clinical,which provides a single unified platform to support data access,preparation and analytics,from source to visualization to action.With unrivaled workf

89、low flexibility to support dynamic collaboration,Signals Clinicals SaaS solution helps accelerate the delivery of urgently needed therapeutics to patients.Vega preclinical ultrasound system,a hands-free,automated,high-throughput imaging system delivering high-resolution 2D and 3D ultrasound images i

90、n minutes.Originally launched in North America in 2022,it is now globally available.New assay kits for Adeno-associated Virus Vectors(AAVs)and gene therapy applications in our range of HTRF and AlphaLISA reagents,for detecting and quantifying CHO HCP impurities in biotherapeutics development,as well

91、 as kits across oncology,neuroscience,and targeted protein degradation applications.Cellaca PLX image cytometry system,which combines best-in-class image cytometer hardware,software,validated consumables and optimized reagent kits with validated antibodies from our BioLegend business,and trackable d

92、ata reporting to enable the simultaneous detection of multiple markers and to streamline cell and gene therapy workflows.New fluorescent stains,reagents and secondary antibodies in our PhenoVueTM cellular imaging reagents portfolio for the detection and analysis of cellular components.The latest ver

93、sion of the Signals Image Artist next-generation image analysis and management platform,which provides improved 3D cell segmentation and analysis,an AWS S3 cloud deployment option and enhanced cloud security,and compatibility with a broader range of systems,including the Nexcelom from Revvity Celigo

94、 image cytometer.An updated VICTOR Nivo multimode plate reader with a new software version for streamlined data analysis.OptiScint NPE-free scintillation cocktails and quench standards,providing a more environmentally friendly alternative without compromising performance.Expansion of our Western blo

95、tting reagents with the addition of the Western Lightning One range,which has a pre-mixed one component chemiluminescent HRP substrate for more consistent results.Additional Spark and Fire dye-conjugated antibodies,enabling higher-parameter flow cytometry.Notable products are the Spark UV 387 and Sp

96、ark Red 718 conjugates.7 For the TotalSeq reagent portfolio,more large panels of pre-titrated oligo-conjugated antibodies released in Universal Panels for the analysis of human and mouse samples.Software solutions for BioLegend LEGENDplex assays,multiomics analysis with TotalSeq reagents,and flow cy

97、tometry-based cell analysis software(Ryvett)that are now part of BioLegends data integration offerings.New Products:New products introduced or acquired for Life Sciences applications in fiscal year 2023 include the following:Pin-pointTM base editing reagents,which improve access to new-generation ed

98、iting technology.The launch of these reagents puts clinically relevant base editing using the Pin-point platform in the hands of preclinical laboratories seeking to accelerate genomic insights and cell therapy research.IVIS Spectrum 2 and IVIS SpectrumCT 2 next-generation imaging systems,our newest

99、flagship platforms setting the standard in high-throughput performance and versatility.QuantumTM GX3 microCT imaging solution,a high-throughput system with superior spatial resolution and fast,low-dose scanning for diverse in vivo and biological ex vivo applications.With class-leading resolution,the

100、 system is designed for a wide applications,including bone imaging.Signals Research Suite,a unified,cloud-native SaaS platform that drives scientific collaboration across research and development disciplines from drug discovery to specialty chemicals material development.Signals DLX powered by Scita

101、ra,which establishes seamless,bidirectional connectivity across instruments,LIMS,ELNs and other critical lab systems that previously existed in isolation.Brand Names:Our Life Sciences segment offers additional products under various brand names:Accell,AdenoBOOST,AlphaLISA,AlphaPlex,AlphaScreen,Alpha

102、 SureFire,Brilliant Violet,Ce3D,CellCarrier,Cellaca,Celigo,Cellometer,cell:explorer,Cell-Vive,Chalice,Chem3D,ChemDraw,ChemOffice,CHOSOURCE,Dharmacon,DharmaFECT,Edit-R,ELISA MAX,EnSight,EnVision,Flex-T,FMT,FolateRSense,GoInVivo,HTRF,IVIS,IVISbrite,IVISense,LANCE,LANCE Ultra,LEAF,LEGEND MAX,LEGENDplex

103、,LentiBOOST,Lincode,Living Image,Lumina,Lymphopure,MicroBeta2,Mini ELISA Plate Reader,miRIDIAN,MojoSort,MuviCyte,ON-TARGET,ON-TARGETplus,Opera Phenix Plus,Operetta CLS,OptiScint,PhenoPlate,PhenoVue,Pin-point,Quantulus GCT,RAPID MAX,RediJect,RNAiONE,Signals,Signals Image Artist,SMARTpools,SMARTvector

104、,Spark,Spectrum,TotalSeq,Tri-Carb,T-SPOT,Ultra-LEAF,Vega,VesselVue,ViaStain,VICTOR Nivo Western Lightning and Wizard2.Diagnostics Segment We offer instruments,reagents,assay platforms and software to hospitals,medical labs,clinicians and medical research professionals to help improve the health of f

105、amilies.Our Diagnostics segment is especially focused on reproductive health,immunodiagnostics,emerging market diagnostics and applied genomics.We provide early detection for genetic disorders from pregnancy to early childhood,and infectious disease testing for the diagnostics market.Our screening p

106、roducts are designed to provide early and accurate insights into the health of expectant mothers during pregnancy and into the health of their babies.Diagnostic labs use our instruments,reagents and software for testing and screening genetic abnormalities and certain disorders and diseases,including

107、 Down syndrome,hypothyroidism,muscular dystrophy,infertility and various metabolic conditions.We also develop technologies that enable and support genomic workflows using PCR and next-generation DNA sequencing for applications in oncology,immunodiagnostics and drug discovery.8 Principal Products:Our

108、 principal products and services for Diagnostics applications include the following:The DELFIA Xpress screening platform,a complete solution for prenatal and maternal health screening,which includes a fast continuous loading system.It is supported by kits for first,second and third trimester analyse

109、s for prenatal screening and clinically validated LifeCycle software.The DELFIA Xpress sFlt-1 kit,which enables short term prediction of pre-eclampsia and aids in diagnosis in the second and third trimesters of pregnancy together with the previously launched DELFIA Xpress PlGF 1-2-3 assay.The NeoBas

110、e non-derivatized MS/MS AAAC kits,which are used to support detection of metabolic disorders in newborns through tandem mass spectrometry.The kits analyze newborn dry blood spot samples for measurement of amino acids and other metabolic analytes for specific diseases.The GSP Neonatal hTSH,T4 17-OHP,

111、GALT IRT,BTD,PKU,Total Galactose,CK-MM and G6PD kits,used for screening congenital neonatal conditions from a drop of blood.The Specimen Gate informatics data management solution,designed specifically for newborn screening laboratories.The NeoLSD MS/MS kit,the first commercial IVD kit for screening

112、of Pompe,MPS-I,Fabry,Gaucher,Niemann-Pick A/B and Krabbe disorders from a single dried blood spot sample.QSight 210MD and 225MD UHPLC MS/MS instruments,which are used for newborn screening.ViaCord umbilical cord blood banking services for the banking of stem cells harvested from umbilical cord blood

113、 and cord tissue,for potential therapeutic application in transplant and regenerative medicine.An expanded portfolio of molecular-based infectious disease screening technologies for blood bank and clinical laboratory settings in China.The tools include a qualitative 3-in-1 assay for the detection of

114、 hepatitis B,hepatitis C and HIV,as well as assays for other communicable diseases.TRF-based Anti HBs/HCV/TP kits for infectious disease testing.Chitas instrument and HBV/HCV/HIV 3-in-1 PCR reagents for blood screening,and Hi Sensitivity HBV DNA and HCV RNA assays for clinical infectious disease tes

115、ting.The Bead Ruptor Elite Bead Mill Homogenizer,which enables grinding,lysing,and homogenizing of biological samples prior to molecular extraction delivering repeatable sample disassociation.OMNI Prep 96 Automated Homogenizer Workstation,which is a fully automated homogenization workstation,enablin

116、g true walk-away processing.The chemagic Prime instrument,a fully automated,LIMS-compatible solution for primary sample transfer,DNA and RNA isolation,optional normalization and the setup of PCR and Next Generation Sequencing(“NGS”)applications.Automated liquid handling platforms(Fontus,JANUS,Sciclo

117、ne,Zephyr and FlexDrop)that offer a choice of robotic solutions in genomics,biotherapeutics,high throughput screening and high content analysis to assist life science research from bench to clinic.JANUS BioTx and PreNAT II workstations for automated small-scale purification,offering column,tip and p

118、late-based chromatography on a single platform.HIVE CLX scRNAseq Solution,which integrates sample storage and single cell profiling into a complete workflow,solving the issues that limit single cell RNA analysis.The LabChip GXII Touch protein characterization system,which provides a means of charact

119、erizing multiple protein product attributes for research labs through QC.The explorer automated workstation,which allows integration of multiple laboratory instrumentation using a centralized robotic interface,allowing high throughput and turnkey-application focused solutions.Vanadis NIPT,a non-PCR

120、non-sequencing fully automated cfDNA technology for use in any laboratory for screening common trisomies in the pregnant population.Revvity Omics,a global laboratory network offering multi-OMIC clinical grade services for testing in cytogenetics,biochemical genetics(prenatal and postnatal),molecular

121、 genetics and immunodiagnostics.The laboratory network includes testing laboratories in the United States,Sweden,India,China and the United Kingdom.The EONIS assay,a CE marked and United States Food and Drug Administration(“FDA”)authorized system utilizing real-time PCR technology,which allows for s

122、imultaneous screening of SMA,SCID and XLA in newborns from a single DBS punch.9 Chemiluminescence immunoassays covering endocrinology,autoimmunity,infectious diseases,allergy and therapeutic drug monitoring.ELISAs covering endocrinology,autoimmunity,diabetes monitoring,steroids,thyroid monitoring,an

123、imal research and tumor markers.Radioactive immunoassays in calcium metabolism.Autoimmune testing,including indirect immunofluorescence tests(IIFT),ELISA,chemiluminescence immunoassays and immunoblots,covering rheumatology,hepatology,gastroenterology,endocrinology,neurology,nephrology,dermatology an

124、d infertility.Allergy testing covering allergen-specific immunoglobin E(IgE),measuring the level of different IgE antibodies or total IgE in blood using EUROLINETM immunoblot assays.Infectious disease testing,including IIFT,ELISA,chemiluminescence immunoassays,immunoblots,microarrays and real-time P

125、CR,covering bacteria,viruses,fungi and parasites.A complete portfolio of chemiluminescence immunoassays(“ChLIA”)for precise Alzheimers disease diagnostics,which provides reliable analysis of the established CSF biomarkers beta-amyloid(1-40),beta-amyloid(1-42),total tau and pTau(181)and a high degree

126、 of standardization due to fully automated processing.EUROLabPolaris,which provides the secure transfer of indirect immunofluorescence data to several locations enabling central evaluation within the software.Laboratory management system EUROLabOffice 4.0,which provides a central interface between d

127、evices to simplify and speed up the diagnostic routine and increases security through organization of all lab procedures and traceable documentation of all data and processes.EUROLabWorkstation IFA and EUROLabWorkstation ELISA,which provide fully automated processing of IIFT and ELISA,respectively,f

128、or laboratories with high sample throughput.EUROPattern Microscope,which provides fully automated immunofluorescence microscopy including IIFT pattern recognition and titer determination.EUROPattern Microscope live,which provides fully automated and fast image recording and modern on-screen reportin

129、g,also including IIFT pattern recognition and titer determination.EUROBlotOne,a compact tabletop device for complete processing of immunoblots.IDS-i10,a compact random access solution for the processing of ChLIA in the field of autoimmune and infection diagnostics as well as antigen detection,provid

130、ing sample throughput of up to 60 samples per hour.IDS-iSYS Multi-Discipline Automated System,which is a compact automation solution for the processing of ChLIA in the field of autoimmune,infection and allergy diagnostics as well as antigen detection,providing sample throughput of up to 120 samples

131、per hour.Pre-NAT II,which provides fully automated high-throughput sample preparation for molecular genetic diagnostics,consisting of nucleic acid extraction and subsequent pipetting of the PCRs.MyFoodProfile immunoblots for the determination of IgG and IgE reactivity against more than 200 foods(CE-

132、marked).Prenatal and postnatal testing utilizing Revvity Omics Next Generation Sequencing products including gene panels,exomes and genomes.Revvity Omics Whole Genome Sequencing test,which detects duo genome(nuclear and mitochondrial)single nucleotide and copy number variants and includes screening

133、for pharmacogenetic variants,Spinal Muscular Atrophy and more than 30 short tandem repeat disorders.Revvity Omics test for Facioscapularhumeral dystrophy(FSHD)using Genome Optical Mapping technology.Oxford Immunotec T-SPOT Technology platform,a modified ELISPOT used to detect a T cell immune respons

134、e to infection.Oxford Immunotec T-SPOT.TB test,an in vitro diagnostic test for the detection of effector T cells that respond to stimulation by mycobacterium tuberculosis antigens by capturing interferon gamma in the vicinity of T cells in human whole blood.It is intended for use as an aid in the di

135、agnosis of tuberculosis infection.The PG-Seq Rapid Kit v2,which analyzes picogram quantities of DNA from an embryo biopsy for preimplantation genetic research with enhanced whole genome coverage and accuracy.DOPlify WGA V2 Kit,which performs fast whole genome amplification on single cells or limited

136、 template DNA samples,allowing cell chromosome copy number status to be determined.10 chemagic 360-D instrument(IVDR)and chemagic Prime Junior-D instrument(IVDR)for automated nucleic acid isolation,and related kits such as CE-IVD chemagic Nucleic Acid Purification Kits and chemagic miRNA 200 Kit.Rev

137、vity Omics WholePanel test,which is an enhanced panel testing(WholeCancer,WholeAtaxia,WholeCardiology and WholeMuscularDystrophy panels)using genome sequencing as a backbone and provides full intronic coverage and short tandem repeat screening in one test.Revvity Omics UltraRapid Whole Genome Sequen

138、cing with StepOne,CMV detection and metagenomic analysis,which provides the sickest babies in NICUs with multiomic testing results in five days or less.New Products:New products or services introduced or acquired for Diagnostics applications in fiscal year 2023 include the following:Fontus liquid ha

139、ndler,which is available in multiple versions to automate both NGS and life science workflows.EONIS Q,a novel“dry-chemistry”qPCR newborn screening workflow for SCID and SMA screening.DELFIA Trio,an automated plate dispenser,washer,disk remover for the manual newborn screening and prenatal workflows.

140、EVOYA,a cloud-based,newborn screening,informatics and data management software.Automation protocols and kits launched for the BioQule NGS System,making it an open system that combines automation,reagents,consumables and scripts,enabling walkaway automation to simplify low throughput NGS library prep

141、aration and quantitation.UNIQO160,a device for fully automated processing of IIFT from primary sample to final microscopy result for up to 160 samples and 18 slides.89 new IIFT for the ultrafast automated microscope“EUROPattern Microscope Live”.Anti-TBE Virus ELISA 2.0(IgG)and Anti-TBE Virus CSF ELI

142、SA 2.0(IgG)for detection of IgG antibodies against TBE virus in serum and CSF,respectively(CE-marked,IVDR-compliant).Brand Names:Our Diagnostics segment offers additional products under various brand names,including AutoDELFIA,BACS-on-Beads,BIOCHIPs,Bioo Scientific,BoBs,chemagic,Chitas,DELFIA,DELFIA

143、 Xpress,DOPlify,EONIS,EUROArray,EUROIMMUN,EUROLabWorkstation,EUROLINE,EUROPatternTM,Evolution Evoya,explorer,Fontus,Genoglyphix,GSP,Haoyuan,IDS Immunodiagnosticsystems,IDS-i10,IDS-i10T,IDS-iSYS,iLab,iQ,JANUS,LabChip,LifeCycle,LimsLink,Migele,MultiPROBE,NEXTFLEX,NextPrep,Pannoramic,Panthera Puncher,P

144、G-Seq,PG-Find PKamp,PreNAT II,Prime,Protein Clear,ProteinEXact,QSight,QuantiVac,RONIA,Sciclone,SimplicityChrom,Specimen Gate,Superflex,Symbio,T-SPOT,Touch,Twister,Vanadis,VariSpec,ViaCord,VICTOR 2 D,and Zephyr.Marketing All of our businesses market their products and services primarily through their

145、 own specialized sales forces.As of December 31,2023,we employed approximately 1,400 sales and service representatives operating in approximately 40 countries and marketing products and services in more than 160 countries.In geographic regions where we do not have a sales and service presence,we uti

146、lize distributors to sell our products.Raw Materials,Key Components and Supplies Each of our businesses uses a wide variety of raw materials,key components and supplies that are generally available from alternate sources of supply and in adequate quantities from domestic and foreign sources.We gener

147、ally have multi-year contracts,with no minimum purchase requirements,with our suppliers.For certain critical raw materials,key components and supplies required for the production of some of our principal products,we have qualified only a limited or a single source of supply.We periodically purchase

148、quantities of some of these critical raw materials in excess of current requirements,in 11 anticipation of future manufacturing needs.With sufficient lead times,we believe we would be able to qualify alternative suppliers for each of these raw materials and key components.See the applicable risk fac

149、tor in“Item 1A.Risk Factors”for an additional description of this risk.Intellectual Property We own numerous United States and foreign patents and have patent applications pending in the United States and abroad.We also license intellectual property rights to and from third parties,some of which bea

150、r royalties and are terminable in specified circumstances.In addition to our patent portfolio,we possess a wide array of unpatented proprietary technology and know-how.We also own numerous United States and foreign trademarks and trade names for a variety of our product names and have applications f

151、or the registration of trademarks and trade names pending in the United States and abroad.We believe that patents and other proprietary rights are important to the development of both of our reporting segments,but we also rely upon trade secrets,know-how,continuing technological innovations and lice

152、nsing opportunities to develop and maintain the competitive position of both of our reporting segments.We do not believe that the loss of any one patent or other proprietary right would have a material adverse effect on our overall business or on any of our reporting segments.In some cases,we may pa

153、rticipate in litigation or other proceedings to defend against or assert claims of infringement,to enforce our patents or our licensors patents,to protect our trade secrets,know-how or other intellectual property rights,or to determine the scope and validity of our or third parties intellectual prop

154、erty rights.Litigation of this type could result in substantial cost to us and diversion of our resources.An adverse outcome in any litigation or proceeding could subject us to significant liabilities or expenses,require us to cease using disputed intellectual property or cease the sale of a product

155、,or require us to license the disputed intellectual property from third parties.Competition Due to the range and diversity of our products and services,we face many different types of competition and competitors.Our competitors range from foreign and domestic organizations,which produce a comprehens

156、ive array of goods and services and that may have greater financial and other resources than we do,to more narrowly focused firms producing a limited number of goods or services for specialized market segments.We compete on the basis of service level,price,technological innovation,operational effici

157、ency,product differentiation,product availability,quality and reliability.Competitors range from multinational organizations with a wide range of products to specialized firms that in some cases have well-established market positions.We expect the proportion of large competitors to increase through

158、the continued consolidation of competitors.Regulatory Affairs Our operations are subject to regulation by different state and federal government agencies in the United States and other countries,as well as to the standards established by international standards bodies.Some of our products are subjec

159、t to regulation by the FDA and similar foreign agencies.These regulations govern a wide variety of our product activities,and if we fail to comply with those regulations or standards,we may face,among other things,warning letters;adverse publicity;investigations or notices of non-compliance,fines,in

160、junctions,and civil penalties;import or export restrictions;partial suspensions or total shutdown of production facilities or the imposition of operating restrictions;increased difficulty in obtaining required FDA clearances or approvals or foreign equivalents;seizures or recalls of our products or

161、those of our customers;or the inability to sell our products.We have agreements relating to the sale of our products and services to government entities and,as a result,we are subject to various statutes and regulations that apply to companies doing business with the government.We are also subject t

162、o investigation for compliance with the regulations governing government contracts.A failure to comply with these regulations could result in suspension of these contracts,as well as other penalties.12 We are also subject to a variety of laws,regulations and standards that govern,among other things,

163、the importation and exportation of products,and our business practices in the United States and abroad such as anti-bribery,anti-corruption and competition laws.In addition,changes in governmental regulations may reduce demand for our products or increase our expenses.The healthcare industry,includi

164、ng the genetic screening market,is subject to extensive and frequently changing international and United States federal,state and local laws and regulations.This requires that we devote substantial resources to maintaining our compliance with those laws,regulations and standards.If we fail to comply

165、 with applicable laws and regulations,we could suffer civil and criminal damages,fines and penalties,exclusion from participation in governmental healthcare programs,and the loss of various licenses,certificates and authorizations necessary to operate our business,as well as incur liabilities from t

166、hird-party claims,all of which could have a significant adverse effect on our business.Environmental Matters Our operations are subject to various foreign,federal,state and local environmental and safety laws and regulations.These requirements include the handling,transportation,manufacture and disp

167、osal of toxic or hazardous substances,the remediation of contaminated soil and groundwater,the regulation of radioactive materials,and the health and safety of our employees.We may have liability under the Comprehensive Environmental Response Compensation and Liability Act and comparable state statu

168、tes that impose liability for investigation and remediation of contamination without regard to fault,in connection with materials that we or our former businesses sent to various third-party sites.We have incurred,and expect to incur,costs pursuant to these statutes.We are conducting a number of env

169、ironmental investigations and remedial actions at our current and former locations and,along with other companies,have been named a potentially responsible party(“PRP”)for certain waste disposal sites.We accrue for environmental issues in the accounting period that our responsibility is established

170、and when the cost can be reasonably estimated.We have accrued$14.1 million and$12.2 million as of December 31,2023 and January 1,2023,respectively,which represents our managements estimate of the cost of the remediation of known environmental matters,and does not include any potential liability for

171、related personal injury or property damage claims.Our environmental accrual is not discounted and does not reflect the recovery of any material amounts through insurance or indemnification arrangements.The cost estimates are subject to a number of variables,including the stage of the environmental i

172、nvestigations,the magnitude of the possible contamination,the nature of the potential remedies,possible joint and several liability,the time period over which remediation may occur,and the possible effects of changing laws and regulations.For sites where we have been named a PRP,our management does

173、not currently anticipate any additional liability to result from the inability of other significant named parties to contribute.We expect that the majority of such accrued amounts could be paid out over a period of up to ten years.As assessment and remediation activities progress at each individual

174、site,these liabilities are reviewed and adjusted to reflect additional information as it becomes available.There have been no environmental problems to date that have had,or are expected to have,a material adverse effect on our consolidated financial statements.While it is possible that a loss excee

175、ding the amounts recorded in the consolidated financial statements may be incurred,the potential exposure is not expected to be materially different from those amounts recorded.We may become subject to new or unforeseen environmental costs or liabilities.Compliance with new or more stringent laws or

176、 regulations,stricter interpretations of existing laws,or the discovery of new contamination could cause us to incur additional costs.Human Capital Management As of December 31,2023,we employed approximately 11,500 employees on a worldwide basis.Roughly 80%of our workforce is based outside of the Un

177、ited States.Several of our subsidiaries outside the United States have employment contracts with our employees where the terms and conditions are influenced by labor unions and workers councils agreements that involve approximately 4,000 of our employees.During fiscal year 2023,our voluntary turnove

178、r rate was 10%.We believe 13 that management of our human capital resources is vital to the continued growth and success of our company,and we endeavor to create an environment that encourages productivity,rewards performance and values diversity.There are several ways in which we attempt to attract

179、,develop and retain highly qualified employees,as set forth below.Our human capital objectives include,as applicable,identifying,recruiting,developing,retaining,incentivizing,and integrating our existing and new employees.We strive to meet this objective by offering competitive compensation and bene

180、fits,in a diverse,inclusive and safe workplace,with opportunities for our employees to grow and develop in their careers.We hold our employees to high performance standards and our compensation plans are designed to deliver competitive base pay and attractive incentive opportunities.Our benefits pro

181、grams are specifically tailored to the various countries in which we operate and maintain a significant workforce.We benchmark for market practices and adjust our compensation and benefits programs to ensure they remain both equitable and competitive.Diversity and Inclusion We believe in an inclusiv

182、e workforce,where employees from a number of cultures and countries are engaged and encouraged to leverage their collective talents.We have employees in roughly 40 countries around the world.As of the date of filing of this annual report on Form 10-K,women comprised roughly 40%of our leadership posi

183、tions on a global basis,which we define as director level and above.We have provided further information regarding our diversity demographics in our Environmental,Social,and Governance(ESG)Report and elsewhere on our website at ,including summarized data from our EEO-1 is a home for information rela

184、ted to ESG policies and initiatives at Revvity.The site provides information for our employees,customers and investors on our environmental and social metrics and policies,our global efforts to preserve our environment and our global efforts to promote social equality.It helps our employees and stak

185、eholders know and understand of our commitment to make positive impacts on our employees,customers,local communities and the environment,while engaging others in our efforts.Our EEO-1 form is a report filed with the United States Equal Employment Opportunity Commission describing the racial,ethnic a

186、nd gender composition of our U.S.-based workforce.Information on our website,including the ESG Report,shall not be deemed incorporated by reference into this annual report.We understand that our ability to operate in a multicultural world is critical to our long-term value creation.By maintaining a

187、culture of diversity and inclusion,we believe that we can innovate more effectively.To that end,we seek to promote diverse perspectives throughout our organization and are an equal opportunity employer committed to making employment decisions without regard to race,religion,national or ethnic origin

188、,sex,sexual orientation,gender identity or expression,age,disability,protected veteran status or other characteristics protected by law.Our commitment to diversity is evidenced by the advancement of the vibrant belonging collective formed by our four Employee Resources and Networking groups,now comp

189、rising of nearly 700 employees who enjoy this safe and engaging platform for dialogue and empowerment.During the fiscal year 2023,our groups conducted a series of workshops enhancing the visibility of our Hispanic communities in the workplace,recognizing the dedication of our veteran employees and e

190、mpowering women to network,develop and share their stories.We continued to support working parents through our flexible working policies and networking opportunities provided by our Womens Forum.These efforts serve as a testament to our dedication to fostering an inclusive workplace.Our commitment t

191、o creating a diverse and inclusive work environment is further validated by our 2023 People Experience Survey in which 85%of our employees felt safe to share their opinions and use their voices,providing over 31,000 comments.We continued to receive a high score in the area of Diversity and Inclusion

192、.Amongst other comments,employees shared that they are proud of the emphasis we place on diversity and inclusion and on making our company a place where everyone is valued and respected.Training and Development We are committed to the continued development and training of our employees and we seek t

193、o provide them with meaningful learning opportunities to help grow their capabilities and careers.We provide such opportunities across all levels of 14 our organization,covering a variety of professional,technical and leadership topics.We do so through a variety of channels and formats,including for

194、mal(classroom-based,blended learning solutions,digital learning)and informal,on-the-job learning.A pivotal component of our annual performance review and goal-setting process focuses on providing employees with constructive and actionable feedback,as well as management engagement in the creation and

195、 completion of development goals.In addition,employees have access to confidential,anonymous feedback through a process that is used as a development tool to help raise awareness on how they are perceived.Lastly,we recognize that professional development requires support of the whole person,and we t

196、herefore offer virtual coaching to help eligible employees meet their unique development goals,whether such goals are leadership or well-being focused.With regards to career growth,we regularly fill open vacancies with internal candidates.Our internal mobility program empowers employees to explore m

197、any different career options available to them.Career options vary based on the employees aspirations and can include specific project work,stretch assignments,job rotations,mentoring,networking,or internal job changes.Lastly,management periodically assesses succession planning for certain key posit

198、ions and reviews our workforce to identify high potential employees for future growth and development.Health and Safety Our success depends on the well-being of our employees,and one of our top priorities is to protect their health and safety.We maintain a culture focused on safety and strive to ide

199、ntify,eliminate and control risk in the workplace to prevent injury and illness.Many of our large manufacturing sites are ISO 45001 and 14001 certified with management systems embedded in operations.We continually strive to improve our environmental,health and safety(“EHS”)management systems across

200、our entire footprint.A Revvity Global EHS Council engages our worldwide health and safety leaders to review,collaborate,and drive corporate EHS objectives across the company.Further,we provide our employees with a comprehensive benefits package that includes health insurance and other resources that

201、 support their physical and mental well-being.Community At Revvity,we have long held the view that responsible global citizenship along with good governance principles and ethical business practices are essential tenets for sustainability and success.We encourage our employees to support the communi

202、ties in which they live and where we operate,and to assist in that effort,we fund a long-term charitable matching program for our employees.In addition,we have established a group comprised of management and subject matter experts at our company to focus on developing and delivering on measurable ad

203、vancements in the areas of reducing waste,reducing carbon emissions and improving employee engagement and diversity.Item 1A.Risk Factors The following important factors affect our business and operations generally or affect multiple segments of our business and operations:Risks Related to our Busine

204、ss Operations and Industry If the markets into which we sell our products decline or do not grow as anticipated due to a decline in general economic conditions,or there are uncertainties surrounding the approval of government or industrial funding proposals,or there are unfavorable changes in govern

205、ment regulations,we may see an adverse effect on the results of our business operations.Our customers include pharmaceutical and biotechnology companies,laboratories,academic and research institutions,public health authorities,private healthcare organizations,doctors and government agencies.Our quar

206、terly revenue and results of operations are highly dependent on the volume and timing of orders received during the quarter.In addition,our revenues and earnings forecasts for future quarters are often based on the expected trends in our markets.However,the markets we serve do not always experience

207、the trends that we may expect.Negative fluctuations in our customers markets,the inability of our customers to secure credit or funding,restrictions in capital expenditures,general economic conditions,cuts in government 15 funding or unfavorable changes in government regulations would likely result

208、in a reduction in demand for our products and services.In addition,government funding is subject to economic conditions and the political process,which is inherently fluid and unpredictable.Our revenues may be adversely affected if our customers delay or reduce purchases as a result of uncertainties

209、 surrounding the approval of government or industrial funding proposals.Such declines could harm our consolidated financial position,results of operations,cash flows and trading price of our common stock,and could limit our ability to sustain profitability.Our growth and profitability is subject to

210、global economic and political conditions,and operational disruptions at our facilities.Our business is affected by global economic and political conditions as well as the state of the financial markets,particularly as the United States and other countries balance concerns around debt,inflation,growt

211、h and budget allocations in their policy initiatives.There can be no assurance that global economic conditions and financial markets will not worsen and that we will not experience any adverse effects that may be material to our consolidated cash flows,results of operations,financial position or our

212、 ability to access capital,such as the adverse effects resulting from a prolonged shutdown in government operations both in the United States and internationally.Our business is also affected by local economic environments,including inflation,recession,financial liquidity,interest rates and currency

213、 volatility or devaluation.Environmental events and political changes,including war or other conflicts,such as the current conflicts in Ukraine and the Middle East,some of which may be disruptive,could interfere with our supply chain,our customers and all of our activities in a particular location.W

214、hile we take precautions to prevent production or service interruptions at our global facilities,a major earthquake,fire,flood,power loss or other catastrophic event that results in the destruction or delay of any of our critical business operations could result in our incurring significant liabilit

215、y to customers or other third parties,cause significant reputational damage or have a material adverse effect on our business,operating results or financial condition.Certain of these risks can be hedged to a limited degree using financial instruments,or other measures,and some of these risks are in

216、surable,but any such mitigation efforts are costly and may not always be fully successful.Our ability to engage in such mitigation efforts has decreased or become even more costly as a result of recent market developments.If we do not introduce new products in a timely manner,we may lose market shar

217、e and be unable to achieve revenue growth targets.We sell many of our products in industries characterized by rapid technological change,frequent new product and service introductions,and evolving customer needs and industry standards.Many of the businesses competing with us in these industries have

218、 significant financial and other resources to invest in new technologies,substantial intellectual property portfolios,substantial experience in new product development,regulatory expertise,manufacturing capabilities,and established distribution channels to deliver products to customers.Our products

219、could become technologically obsolete over time,or we may invest in technology that does not lead to revenue growth or continue to sell products for which the demand from our customers is declining,in which case we may lose market share or not achieve our revenue growth targets.The success of our ne

220、w product offerings will depend upon several factors,including our ability to:accurately anticipate customer needs,innovate and develop new reliable technologies and applications,receive regulatory approvals in a timely manner,successfully commercialize new technologies in a timely manner,price our

221、products competitively,and manufacture and deliver our products in sufficient volumes and on time,and differentiate our offerings from our competitors offerings.Many of our products are used by our customers to develop,test and manufacture their products.We must anticipate industry trends and consis

222、tently develop new products to meet our customers expectations.In developing new products,we may be required to make significant investments before we can determine the commercial viability of the new product.If we 16 fail to accurately foresee our customers needs and future activities,we may invest

223、 heavily in research and development of products that do not lead to significant revenue.We may also suffer a loss in market share and potential revenue if we are unable to commercialize our technology in a timely and efficient manner.In addition,some of our licensed technology is subject to contrac

224、tual restrictions,which may limit our ability to develop or commercialize products for some applications.We may not be able to successfully execute acquisitions or divestitures,license technologies,integrate acquired businesses or licensed technologies into our existing businesses,maintain licensed

225、technologies,or make acquired businesses or licensed technologies profitable.We have in the past supplemented,and may in the future supplement,our internal growth by acquiring businesses and licensing technologies that complement or augment our existing product lines.However,we may be unable to iden

226、tify or complete promising acquisitions or license transactions for many reasons,such as:competition among buyers and licensees,the high valuations of businesses and technologies,the need for regulatory and other approval,and our inability to raise capital to fund these acquisitions.Some of the busi

227、nesses we acquire may be unprofitable or marginally profitable,or may increase the variability of our revenue recognition.If,for example,we are unable to successfully commercialize products and services related to significant in-process research and development that we have capitalized,we may have t

228、o impair the value of such assets.Accordingly,the earnings or losses of acquired businesses may dilute our earnings.For these acquired businesses to achieve acceptable levels of profitability,we would have to improve their management,operations,products and market penetration.We may not be successfu

229、l in this regard and may encounter other difficulties in integrating acquired businesses into our existing operations,such as incompatible management,information or other systems,cultural differences,loss of key personnel,unforeseen regulatory requirements,previously undisclosed liabilities or diffi

230、culties in predicting financial results.We may lose the right to utilize licensed technologies which could limit our ability to offer products incorporating such technologies.To finance our acquisitions,we may have to raise additional funds,either through public or private financings.We may be unabl

231、e to obtain such funds or may be able to do so only on terms unacceptable to us.We may also incur expenses related to completing acquisitions or licensing technologies,or in evaluating potential acquisitions or technologies,which may adversely impact our profitability.If we do not compete effectivel

232、y,our business will be harmed.We encounter aggressive competition from numerous competitors in many areas of our business.We may not be able to compete effectively with all of these competitors.To remain competitive,we must develop new products and periodically enhance our existing products.We antic

233、ipate that we may also have to adjust the prices of many of our products to stay competitive.In addition,new competitors,technologies or market trends may emerge to threaten or reduce the value of entire product lines.Our quarterly operating results could be subject to significant fluctuation,and we

234、 may not be able to adjust our operations to effectively address changes we do not anticipate,which could increase the volatility of our stock price and potentially cause losses to our shareholders.Given the nature of the markets in which we participate,we cannot reliably predict future revenue and

235、profitability.Changes in competitive,market and economic conditions may require us to adjust our operations,and we may not be able to make those adjustments or make them quickly enough to adapt to changing conditions.A high proportion of our costs are fixed in the short term,due in part to our resea

236、rch and development and manufacturing costs.As a result,small declines in sales could disproportionately affect our operating results in a quarter.Factors that may affect our quarterly operating results include:demand for and market acceptance of our products,17 competitive pressures resulting in lo

237、wer selling prices,changes in the level of economic activity in regions in which we do business,including as a result of global health crises or pandemics,changes in general economic conditions or government funding,settlements of income tax audits,expenses incurred in connection with claims related

238、 to environmental conditions at locations where we conduct or formerly conducted operations,contract termination and litigation costs,differing tax laws and changes in those laws(including the enactment by countries of the Organization for Economic Cooperation and Development(OECD)Base Erosion and P

239、rofit Shifting Pillar Two,which would impose a minimum corporate income tax rate of least 15%),or changes in the countries in which we are subject to taxation,changes in our effective tax rate,changes in industries,such as pharmaceutical and biomedical,changes in the portions of our revenue represen

240、ted by our various products and customers,our ability to introduce new products,our competitors announcement or introduction of new products,services or technological innovations,costs of raw materials,labor,energy,supplies,transportation or other indirect costs,changes in healthcare or other reimbu

241、rsement rates paid by government agencies and other third parties for certain of our products and services,our ability to realize the benefit of ongoing productivity initiatives,changes in the volume or timing of product orders,fluctuation in the expense related to the mark-to-market adjustment on p

242、ostretirement benefit plans,changes in our assumptions underlying future funding of pension obligations,changes in assumptions used to determine contingent consideration in acquisitions,and changes in foreign currency exchange rates.A significant disruption in third-party package delivery and import

243、/export services,or significant increases in prices for those services,could interfere with our ability to ship products,increase our costs and lower our profitability.We ship a significant portion of our products to our customers through independent package delivery and import/export companies,incl

244、uding UPS and Federal Express in the United States;TNT,UPS and DHL in Europe;and UPS in Asia.We also ship our products through other carriers,including commercial airlines,freight carriers,national trucking firms,overnight carrier services and the United States Postal Service.If one or more of the p

245、ackage delivery or import/export providers experiences a significant disruption in services or institutes a significant price increase,we may have to seek alternative providers and the delivery of our products could be prevented or delayed.Such events could cause us to incur increased shipping costs

246、 that could not be passed on to our customers,negatively impacting our profitability and our relationships with certain of our customers.18 Disruptions in the supply of raw materials,certain key components and other goods from our limited or single source suppliers could have an adverse effect on th

247、e results of our business operations,and could damage our relationships with customers.The production of our products requires a wide variety of raw materials,key components and other goods that are generally available from alternate sources of supply.However,certain critical raw materials,key compo

248、nents and other goods required for the production and sale of some of our principal products are available from limited or single sources of supply.We generally have multi-year contracts with no minimum purchase requirements with these suppliers,but those contracts may not fully protect us from a fa

249、ilure by certain suppliers to supply critical materials or from the delays inherent in being required to change suppliers and,in some cases,validate new raw materials.Such raw materials,key components and other goods can usually be obtained from alternative sources with the potential for an increase

250、 in price,decline in quality or delay in delivery.A prolonged inability to obtain certain raw materials,key components or other goods is possible and could have an adverse effect on our business operations,and could damage our relationships with customers.In addition,global health crises or pandemic

251、s,wars,conflicts,or other changes in a countrys or regions political or economic conditions,could have a significant adverse effect on our supply chain.We are subject to the rules of the Securities and Exchange Commission requiring disclosure as to whether certain materials known as conflict mineral

252、s(tantalum,tin,gold,tungsten and their derivatives)that may be contained in our products are mined from the Democratic Republic of the Congo and adjoining countries.As a result of these rules,we may incur additional costs in complying with the disclosure requirements and in satisfying those customer

253、s who require that the components used in our products be certified as conflict-free,and the potential lack of availability of these materials at competitive prices could increase our production costs.If we do not retain our key personnel,our ability to execute our business strategy will be limited.

254、Our success depends to a significant extent upon the continued service of our executive officers and key management and technical personnel,particularly our experienced engineers and scientists,and on our ability to continue to attract,retain,and motivate qualified personnel.The competition for thes

255、e employees is intense.The loss of the services of key personnel could have a material adverse effect on our operating results.In addition,there could be a material adverse effect on us should the turnover rates for key personnel increase significantly or if we are unable to continue to attract qual

256、ified personnel.We do not maintain any key person life insurance policies on any of our officers or employees.Our success also depends on our ability to execute leadership succession plans.The inability to successfully transition key management roles could have a material adverse effect on our opera

257、ting results.If we experience a significant disruption in,or breach in security of,our information technology systems or those of our customers,suppliers or other third parties,or cybercrime,resulting in inappropriate access to or inadvertent transfer of information or assets or result in a ransom d

258、emand from a third party,or if we fail to implement new systems,software and technologies successfully,our business could be adversely affected.We rely on several centralized information technology systems throughout our company to develop,manufacture and provide products and services,keep financial

259、 records,process orders,manage inventory,process shipments to customers and operate other critical functions.Our and our third-party service providers information technology systems may be susceptible to damage,disruptions or shutdowns due to power outages,hardware failures,computer viruses,attacks

260、by computer hackers,telecommunication failures,user errors,catastrophes or other unforeseen events.The risk of a security breach or disruption through cyber-attacks has generally increased as the number,intensity and sophistication of attempted attacks from around the world have increased.For exampl

261、e,many companies have experienced an increase in phishing and social engineering attacks from third parties.If we were to experience a prolonged system disruption in the information technology systems that involve our interactions with customers,suppliers or other third parties,it could result in th

262、e loss of sales and customers and significant incremental costs,which could adversely affect our business.In addition,security breaches of our information technology systems or cybercrime,resulting in inappropriate access to or inadvertent transfer of information or assets,could result in losses or

263、misappropriation of assets,ransom demands by third parties,or unauthorized disclosure of confidential information 19 belonging to us or to our employees,partners,customers or suppliers,which could result in our suffering significant financial or reputational damage.Our results of operations will be

264、adversely affected if we fail to realize the full value of our intangible assets.As of December 31,2023,our total assets included$9.6 billion of net intangible assets.Net intangible assets consist principally of goodwill associated with acquisitions and costs associated with securing patent rights,t

265、rademark rights,customer relationships,core technology and technology licenses and in-process research and development,net of accumulated amortization.We test goodwill at least annually for potential impairment by comparing the carrying value to the fair market value of the reporting unit to which t

266、hey are assigned.All of our amortizing intangible assets are also evaluated for impairment should events occur that call into question the value of the intangible assets.Adverse changes in our business,adverse changes in the assumptions used to determine the fair value of our reporting units,or the

267、failure to grow our Life Sciences and Diagnostics segments may result in impairment of our intangible assets,which could adversely affect our results of operations.Risks Related to our Intellectual Property We may not be successful in adequately protecting our intellectual property.Patent and trade

268、secret protection is important to us because developing new products,processes and technologies gives us a competitive advantage,although it is time-consuming and expensive.We own many United States and foreign patents and intend to apply for additional patents.Patent applications we file,however,ma

269、y not result in issued patents or,if they do,the claims allowed in the patents may be narrower than what is needed to protect fully our products,processes and technologies.The expiration of our previously issued patents may cause us to lose a competitive advantage in certain of the products and serv

270、ices we provide.Similarly,applications to register our trademarks may not be granted in all countries in which they are filed.For our intellectual property that is protected by keeping it secret,such as trade secrets and know-how,we may not use adequate measures to protect this intellectual property

271、.Third parties have in the past and may in the future also challenge the validity of our issued patents,may circumvent or“design around”our patents and patent applications,or claim that our products,processes or technologies infringe their patents.In addition,third parties may assert that our produc

272、t names infringe their trademarks.We may incur significant expense in legal proceedings to protect our intellectual property against infringement by third parties or to defend against claims of infringement by third parties.Claims by third parties in pending or future lawsuits could result in awards

273、 of substantial damages against us or court orders that could effectively prevent us from manufacturing,using,importing or selling our products in the United States or other countries.If we are unable to renew our licenses or otherwise lose our licensed rights,we may have to stop selling products or

274、 we may lose competitive advantage.We may not be able to renew or otherwise lose our right to utilize our existing licenses,or licenses we may obtain in the future,on terms acceptable to us,or at all.If we lose the rights to a patented or other proprietary technology,we may need to stop selling prod

275、ucts incorporating that technology and possibly other products,redesign our products or lose a competitive advantage.Potential competitors could in-license technologies that we fail to license and potentially erode our market share.Our licenses typically subject us to various economic and commercial

276、ization obligations.If we fail to comply with these obligations,we could lose important rights under a license,such as the right to exclusivity in a market,or incur losses for failing to comply with our contractual obligations.In some cases,we could lose all rights under the license.In addition,righ

277、ts granted under the license could be lost for reasons out of our control.For example,the licensor could lose patent protection for a number of reasons,including invalidity of the licensed patent,or a third-party could obtain a patent that curtails our freedom to operate under one or more licenses.2

278、0 Risks Related to Legal,Government and Regulatory Matters The manufacture and sale of products and services may expose us to product and other liability claims for which we could have substantial liability.We face an inherent business risk of exposure to product and other liability claims if our pr

279、oducts,services or product candidates are alleged or found to have caused injury,damage or loss.We may be unable to obtain insurance with adequate levels of coverage for potential liability on acceptable terms or claims of this nature may be excluded from coverage under the terms of any insurance po

280、licy that we obtain.If we are unable to obtain such insurance or the amounts of any claims successfully brought against us substantially exceed our coverage,then our business could be adversely impacted.If we fail to maintain satisfactory compliance with the regulations of the United States Food and

281、 Drug Administration and other governmental agencies in the United States and abroad,we may be forced to recall products and cease their manufacture and distribution,and we could be subject to civil,criminal or monetary penalties.Our operations are subject to regulation by different state and federa

282、l government agencies in the United States and other countries,as well as to the standards established by international standards bodies.If we fail to comply with those regulations or standards,we could be subject to fines,penalties,criminal prosecution or other sanctions.Some of our products are su

283、bject to regulation by the United States Food and Drug Administration and similar foreign and domestic agencies.These regulations govern a wide variety of product activities,from design and development to labeling,manufacturing,promotion,sales and distribution.If we fail to comply with those regulat

284、ions or standards,we may have to recall products,cease their manufacture and distribution,and may be subject to fines or criminal prosecution.We are also subject to a variety of laws,regulations and standards that govern,among other things,the importation and exportation of products,the handling,tra

285、nsportation and manufacture of toxic or hazardous substances,the collection,storage,transfer,use,disclosure,retention and other processing of personal data,and our business practices in the United States and abroad such as anti-bribery,anti-corruption and competition laws.This requires that we devot

286、e substantial resources to maintaining our compliance with those laws,regulations and standards.A failure to do so could result in the imposition of civil,criminal or monetary penalties having a material adverse effect on our operations.We are subject to stringent data privacy and information securi

287、ty laws and regulations and changes in such laws or regulations,or our failure to comply with such requirements,could subject us to significant fines and penalties,which may have a material adverse effect on our business,financial condition or results of operations.We are subject to data privacy and

288、 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

289、 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 bu

290、siness.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

291、,results of operations or prospects.Changes in governmental regulations may reduce demand for our products or increase our expenses.We compete in markets in which we or our customers must comply with federal,state,local and foreign regulations,such as environmental,health and safety,data privacy and

292、 food and drug regulations.We develop,configure and market our products to meet customer needs created by these regulations.Any significant change in these regulations could reduce demand for our products or increase our costs of producing these products.21 The healthcare industry is highly regulate

293、d and if we fail to comply with its extensive system of laws and regulations,we could suffer fines and penalties or be required to make significant changes to our operations which could have a significant adverse effect on the results of our business operations.The healthcare industry,including the

294、genetic screening market,is subject to extensive and frequently changing international and United States federal,state and local laws and regulations.In addition,legislative provisions relating to healthcare fraud and abuse,patient privacy violations and misconduct involving government insurance pro

295、grams provide federal enforcement personnel with substantial powers and remedies to pursue suspected violations.We believe that our business will continue to be subject to increasing regulation as the federal government continues to strengthen its position on healthcare matters,the scope and effect

296、of which we cannot predict.If we fail to comply with applicable laws and regulations,we could suffer civil and criminal damages,fines and penalties,exclusion from participation in governmental healthcare programs,and the loss of various licenses,certificates and authorizations necessary to operate o

297、ur business,as well as incur liabilities from third-party claims,all of which could have a significant adverse effect on our business.Risks Related to our Foreign Operations Economic,political and other risks associated with foreign operations could adversely affect our international sales and profi

298、tability.Because we sell our products worldwide,our businesses are subject to risks associated with doing business internationally.Our sales originating outside the United States represented the majority of our total revenue in fiscal year 2023.We anticipate that sales from international operations

299、will continue to represent a substantial portion of our total revenue.In addition,many of our manufacturing facilities,employees and suppliers are located outside the United States.Accordingly,our future results of operations could be harmed by a variety of factors,including:changes in actual,or fro

300、m projected,foreign currency exchange rates,global health crises of unknown duration,wars,conflicts,or other changes in a countrys or regions political or economic conditions,particularly in developing or emerging markets,longer payment cycles of foreign customers and timing of collections in foreig

301、n jurisdictions,trade protection measures including embargoes,sanctions and tariffs,such as the sanctions and other restrictions implemented by the United States and other governments on the Russian Federation and related parties in connection with the conflict in Ukraine,import or export licensing

302、requirements and the associated potential for delays or restrictions in the shipment of our products or the receipt of products from our suppliers,policies in foreign countries benefiting domestic manufacturers or other policies detrimental to companies headquartered in the United States,differing t

303、ax laws and changes in those laws,or changes in the countries in which we are subject to tax,adverse income tax audit settlements or loss of previously negotiated tax incentives,differing business practices associated with foreign operations,difficulty in transferring cash between international oper

304、ations and the United States,difficulty in staffing and managing widespread operations,differing labor laws and changes in those laws,differing protection of intellectual property and changes in that protection,expanded enforcement of laws related to data protection and personal privacy,increasing g

305、lobal enforcement of anti-bribery and anti-corruption laws,and 22 differing regulatory requirements and changes in those requirements.Risks Related to our Debt We have a substantial amount of outstanding debt,which could impact our ability to obtain future financing and limit our ability to make oth

306、er expenditures in the conduct of our business.We have a substantial amount of debt and other financial obligations.Our debt level and related debt service obligations could have negative consequences,including:requiring us to dedicate significant cash flow from operations to the payment of principa

307、l and interest on our debt,which reduces the funds we have available for other purposes,such as acquisitions and stock repurchases;reducing our flexibility in planning for or reacting to changes in our business and market conditions;exposing us to interest rate risk as a portion of our debt obligati

308、ons are at variable rates;increasing our foreign currency risk as a portion of our debt obligations are in denominations other than the U.S.dollar;and increasing the chances of a downgrade of our debt ratings due to the amount or intended purpose of our debt obligations.We may incur additional indeb

309、tedness in the future to meet future financing needs.If we add new debt,the risks described above could increase.In addition,the market for both public and private debt offerings has experienced liquidity concerns and increased volatility,which could ultimately increase our borrowing costs and limit

310、 our ability to obtain future financing.Restrictions in our senior unsecured revolving credit facility and other debt instruments may limit our activities.Our senior unsecured revolving credit facility,senior unsecured notes due in 2024(“2024 Notes”),senior unsecured notes due in 2026(“2026 Notes”),

311、senior unsecured notes due in 2028(“2028 Notes”),senior unsecured notes due in 2029(“2029 Notes”),senior unsecured notes due in 2031(“March 2031 Notes”),senior unsecured notes due in 2031(“September 2031 Notes”)and senior unsecured notes due in 2051(“2051 Notes”)include restrictive covenants that li

312、mit our ability to engage in activities that could otherwise benefit our company.These include restrictions on our ability and the ability of our subsidiaries to:pay dividends on,redeem or repurchase our capital stock,sell assets,incur obligations that restrict our subsidiaries ability to make divid

313、end or other payments to us,guarantee or secure indebtedness,enter into transactions with affiliates,and consolidate,merge or transfer all,or substantially all,of our assets and the assets of our subsidiaries on a consolidated basis.We are also required to meet specified financial ratios under the t

314、erms of certain of our existing debt instruments.Our ability to comply with these financial restrictions and covenants is dependent on our future performance,which is subject to prevailing economic conditions and other factors,including factors that are beyond our control,such as foreign exchange ra

315、tes,interest rates,changes in technology and changes in the level of competition.In addition,if we are unable to maintain our investment grade credit rating,our borrowing costs would increase and we would be subject to different and potentially more restrictive financial covenants under some of our

316、existing debt instruments.Any future indebtedness that we incur may include similar or more restrictive covenants.Our failure to comply with any of the restrictions in our senior unsecured revolving credit facility,the 2024 Notes,the 2026 Notes,the 2028 Notes,the 2029 23 Notes,the March 2031 Notes,t

317、he September 2031 Notes,the 2051 Notes or any future indebtedness may result in an event of default under those debt instruments,which could permit acceleration of the debt under those debt instruments,and require us to prepay that debt before its scheduled due date under certain circumstances.Risks

318、 Related to Ownership of our Common Stock Our share price will fluctuate.Over the last several years,stock markets in general and our common stock in particular have experienced significant price and volume volatility.Both the market price and the daily trading volume of our common stock may continu

319、e to be subject to significant fluctuations due not only to general stock market conditions but also to a change in sentiment in the market regarding our operations and business prospects.In addition to the risk factors discussed above,the price and volume volatility of our common stock may be affec

320、ted by:operating results that vary from our financial guidance or the expectations of securities analysts and investors,the financial performance of the major end markets that we target,the operating and securities price performance of companies that investors consider to be comparable to us,announc

321、ements of strategic developments,acquisitions and other material events by us or our competitors,changes in global financial markets and global economies and general market conditions,such as interest or foreign exchange rates,inflation,freight costs,commodity and equity prices and the value of fina

322、ncial assets,and changes to economic conditions arising from global health crises and pandemics,climate change,or from wars or conflicts.Dividends on our common stock could be reduced or eliminated in the future.On October 26,2023,we announced that our Board of Directors(our“Board”)had declared a qu

323、arterly dividend of$0.07 per share for the fourth quarter of fiscal year 2023 that was paid in February 2024.On January 25,2024,we announced that our Board had declared a quarterly dividend of$0.07 per share for the first quarter of fiscal year 2024 that will be payable in May 2024.In the future,our

324、 Board may determine to reduce or eliminate our common stock dividend in order to fund investments for growth,repurchase shares or conserve capital resources.Item 1B.Unresolved Staff Comments Not applicable.24 Item 1C.Cybersecurity Disclosures We have developed and maintain a Material Cyber Incident

325、 Disclosure Program.The program includes processes for the identification,review and assessment of materiality of cyber events,notification of our senior leadership and Board of Directors of such events,and financial reporting disclosure where applicable.As part of the program,we also engage in due

326、diligence regarding the cybersecurity capabilities of our current and potential third-party vendors in accordance with industry best practices.Under the program,all material cyber incidents will be reported to our Board of Directors.The program is led by our Cyber Event Disclosure Committee,which in

327、cludes members of our Information Security,Corporate Legal,External Reporting and Enterprise Risk Management teams.In addition to assessing our own cybersecurity preparedness,we also consider and evaluate cybersecurity risks associated with use of third-party service providers.Our Internal Audit tea

328、m conducts an annual review of third-party hosted applications with a specific focus on any sensitive data shared with third parties.For all critical third party service provides,we perform a review of the vendors System and Organization Controls(SOC),which is referred to as a SOC 1 or SOC 2 report.

329、If a third-party vendor is not able to provide a SOC 1 or SOC 2 report,we take additional steps to understand and mitigate any additional risks.Our assessment of risks associated with use of third-party providers is part of our overall risk management framework.The Companys Chief Information Officer

330、 is responsible for developing and implementing our information security program.Our Information Security team monitors our exposure to external cybersecurity threats,leveraging automated tools and manual processes to ensure cybersecurity risk is effectively mitigated on a continuous basis.When a sp

331、ecific incident has been identified,the Information Security team leverages our Cyber Incident Response Plan in conjunction with established Information Security policies to begin assessment of the incident.Depending on the type and/or severity of the incident,our Information Security team will dete

332、rmine(in compliance with our Cyber Incident Response Plan)whether third party expertise or consultation is necessary.If such expertise or consultation is determined to be necessary,our Information Security and Corporate Legal teams will engage with third-party experts.As part of its review of incide

333、nts,our Information Security team considers the risk exposure,potential impact,severity and implications with respect to our information technology systems.Our Information Security team is responsible for escalating incidents which are determined to be higher risk to our Cyber Event Disclosure Committee.The Cyber Event Disclosure Committee will work with our General Counsel to determine the materi