What changed in this filing

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Item 1. Business

2024-12-20 compared with 2023-12-20 · 124 added, 116 removed, 379 unchanged (39% of the section changed)

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("we", "Agilent" or the "company"), incorporated in Delaware in May 1999, is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.

For fiscal year ended October 31, 2023, we have three business segments comprised of the life sciences and applied markets business, the diagnostics and genomics business and the Agilent CrossLab business.

In the first quarter of fiscal year 2024, we announced a change in our operating segments to move our cell analysis business from our life sciences and applied markets segment to our diagnostics and genomics operating segment in order to further strengthen growth opportunities for both organizations.

Following this reorganization, we continued to have three business segments comprised of life sciences and applied markets, diagnostics and genomics and Agilent CrossLab, each of which continues to comprise a reportable segment.

All historical financial segment information has been recast to conform to this new presentation in our consolidated financial statements and accompanying notes.

There was no change to our Agilent CrossLab business segment.

See also Note 23, "Subsequent Event" for additional information on recent changes to our organizational structure.

Our life sciences and applied markets business provides application-focused solutions that include instruments, consumables and software that enable customers to identify, quantify and analyze the physical and biological properties of substances and products, as well as enable customers in the clinical and life sciences research areas to interrogate samples at the molecular and cellular level.

Our consumables portfolio is designed to improve customer outcomes.

Our diagnostics and genomics business is comprised of six areas of activity providing active pharmaceutical ingredients ("APIs") for oligo-based therapeutics as well as solutions that include reagents, instruments, software and consumables which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level.

Our diagnostics and genomics business is comprised of seven areas of activity providing active pharmaceutical ingredients ("APIs") for oligo-based therapeutics as well as solutions that include reagents, instruments, software and consumables which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level.

The Agilent CrossLab business spans the entire lab with its extensive services portfolio, which is designed to improve customer outcomes.

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OFS provides resources for manufacturing, engineering and strategic sourcing to our respective businesses.

Each of our businesses, together with OFS and Agilent Technologies Research Laboratories, is supported by our global infrastructure organization, which provides shared services in the areas of finance, information technology, legal, certain procurement services, workplace services and human resources.

Each of our businesses, together with OFS, is supported by our global infrastructure organization, which provides shared services in the areas of finance, information technology, legal, certain procurement services, workplace services and human resources.

We sell our products primarily through direct sales, but we also utilize distributors, resellers, manufacturers' representatives and electronic commerce.

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Our primary research and development and manufacturing sites are in California, Colorado, Delaware, Massachusetts, Texas and Vermont in the U.S.

and in Australia, China, Denmark, Germany, Italy, Japan, Malaysia, Singapore and the United Kingdom.

and in Australia, Canada, China, Denmark, Germany, Italy, Japan, Malaysia, Singapore and the United Kingdom.

Life Sciences and Applied Markets Business

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raman spectroscopy;

cell analysis plate based assays;

flow cytometer;

real-time cell analyzer;

cell imaging systems;

microplate reader;

laboratory software for sample tracking;

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The Pharmaceutical, Biopharmaceutical, CRO & CMO Market.

This market consists of “for-profit” companies who participate across the pharmaceutical value chain in the areas of therapeutic research, discovery & development, clinical trials, manufacturing and quality assurance and quality control.

This market consists of “for-profit” companies which participate across the pharmaceutical value chain in the areas of therapeutic research, discovery & development, clinical trials, manufacturing and quality assurance and quality control.

One sub-segment of this market is core and emerging pharmaceutical companies ("pharma").

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Chemical market customers use our products to determine chemical composition, perform impurity analysis, qualify raw materials, conduct materials characterization, and verify and ensure the environmental safety of operations and employees.

Our products are used to test for safety, quality, and compliance across the value chains of advanced materials – including semiconductors, batteries, and specially engineered polymers and polymeric materials.

The natural gas and petroleum exploration and refining markets use our products to analyze crude oil composition, perform intermediate material analysis, verify and improve refining processes and ensure the overall quality of gasoline, fuels, lubricants and other products.

Our products are used to test for safety, quality, and compliance across the value chains of advanced materials – including semiconductors/electronics, batteries, specially engineered polymers and polymeric materials, minerals & metals, thin film & optics, consumer products and packing materials – from the upstream raw materials, materials production, and final products to the end markets and recycling.

The upstream petroleum exploration and refining markets use our products to analyze natural gas, crude oil composition, perform intermediate material analysis, verify and improve refining processes and ensure the overall quality of gasoline, fuels, lubricants and other products.

The Environmental & Forensics Market.

Our instruments, software and workflow solutions are used by the environmental market for applications such as laboratory and field analysis of chemical pollutants in air, water, soil and solid waste.

Environmental industry customers include all levels of government, the industrial and manufacturing sectors, engineering and consulting companies, commercial testing laboratories and colleges and universities.

Our instruments, software and workflow solutions are used by the environmental market for applications such as laboratory and field analysis of regulated and unregulated chemical pollutants in air, water, soil and solid waste.

Drug testing and forensics laboratories use our instruments, software and workflow solutions for applications such as analyzing evidence associated with crime, screening athletes for performance enhancing drugs, analyzing samples for recreational drugs, or detecting and identifying biological and chemical warfare agents.

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Our mass spectrometry technologies are employed by researchers to identify and quantify individual or whole classes of metabolites, lipids, or proteins involved in basic cellular processes and elucidate those which are quantitatively or qualitatively altered in disease states, as well as to identify those which may be useful as biomarkers for a disease.

Our Seahorse, xCELLigence, Novocyte, and BioTek platform technologies are used both stand-alone and in conjunction with mass spectrometry to understand underlying cellular physiology and interactions in normal and diseased states, as well to help understand how new drugs and therapies alter the composition, function, or interaction of cells.

In addition, our XCELLigence and Novocyte technologies can be used to characterize and quantify immune cell response (for example cytotoxicity).

Life Sciences and Applied Markets Products and Applications

Our products fall into the following main areas of work:

liquid chromatography, gas chromatography, mass spectrometry, spectroscopy, software and informatics, lab automation and robotics, vacuum technology, cell analysis, remarketed instruments and chemistries and supplies.

liquid chromatography, gas chromatography, mass spectrometry, spectroscopy, software and informatics, lab automation and robotics, vacuum technology, remarketed instruments and chemistries and supplies.

Our key products and applications include the following technologies:

Liquid Chromatography

A liquid chromatograph ("LC") or a high-performance liquid chromatograph ("HPLC") is used to separate molecules of a liquid mixture to determine the quantity and identity of the molecules present.

The Agilent LC portfolio is modular in construction and can be configured as analytical and preparative systems.

A liquid chromatograph, high-performance liquid chromatograph ("HPLC") or ultra-high performance liquid chromatograph (“UHPLC”) is used to separate molecules of a liquid mixture to determine the quantity and identity of the molecules present.

The Agilent LC portfolio is largely modular in construction and can be configured as analytical and preparative systems.

These systems can be stepwise upgraded to highly sophisticated, automated workflow solutions such as method development, multi‑method/walk-up, high-capacity/high-throughput or multi‑dimensional LC and can be extended to application‑based analyzers (e.g., for bio-molecular separations, chiral analysis or size exclusion chromatography).

As a leader in liquid chromatography, we continue to expand our application space with new HPLC columns, new services and diagnostics offerings and ongoing instrument and software product enhancements.

As a leader in liquid chromatography, we continue to expand our application space with new HPLC columns, new services and ongoing instrument and software product enhancements.

Gas Chromatography

Agilent is the world's leading provider of gas chromatographs ("GC"), both laboratory and portable models.

GCs are used to separate any gas, liquid or solid that can be vaporized and then detect the molecules present to determine their identity and quantity.

Agilent is the world's leading provider of gas chromatographs, both laboratory and portable models.

Gas chromatographs are used to separate any gas, liquid or solid that can be vaporized and then detect the molecules present to determine their identity and quantity.

Agilent provides custom or standard analyzers configured for specific chemical analysis applications, such as detailed speciation of a complex hydrocarbon stream, calculation of gas calorific values in the field, or analysis of a new bio-fuel formulation.

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A mass spectrometer (“MS”) identifies and quantifies compounds based on their molecular mass and characteristic patterns of fragment ion masses that result when a molecule is broken apart.

MS is an important tool in analyzing small molecules and can also be used to characterize and quantify large molecules, such as proteins and other biological entities.

MS is an important tool in analyzing a broad spectrum of analytes, from small molecules, such as pesticides, to large molecules, such as intact proteins and other biological entities.

Liquid chromatography ("LC") and gas chromatography ("GC") are commonly used to separate compounds and introduce them to the MS system.

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Agilent's GC/MS portfolio includes instruments built around three main analyzer types - single quadrupole, triple quadrupole, and quadrupole time-of-flight ("QTOF").

We significantly expanded our mass spectrometry portfolio in recent years with a focus on improving performance, sensitivity, and ease of use.

We significantly expanded our mass spectrometry portfolio in recent years with a focus on improving performance, sensitivity, precision, robustness, ease of use and onboard intelligence.

Spectroscopy is a technique for analyzing the individual chemical components of substances based on the absorption or emission of electromagnetic radiation of specific wavelengths of light.

Our spectroscopy instruments include AA spectrometers, microwave plasma-atomic emission spectrometers ("MP-AES"), ICP-OES, ICP-MS, fluorescence spectrophotometers, ultraviolet-visible ("UV-Vis") spectrophotometers, Fourier Transform infrared ("FT-IR") spectrometers, near-infrared ("NIR")

spectrometers, raman spectrometers and sample automation products.

We also offer related software, accessories and consumable products for these and other similar instruments.

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Laboratory Automation and Robotics

We offer a portfolio of unique sample preparation automated solutions that are key to a comprehensive suite of workflow solutions to our life science customers.

We offer a portfolio of unique sample preparation automated solutions that are key to a comprehensive suite of workflow solutions to our life science and genomics customers.

This includes liquid handling, plate management, unique consumables and scheduling software with solutions that range from standalone instrumentation to bench-top automation solutions.

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In addition to product sales, we also offer a wide range of services including an exchange and rebuild program, assistance with the design and integration of vacuum systems, applications support and training in basic and advanced vacuum technologies.

Cell Analysis

Our cell analysis tools are used to study cell signaling pathways, general cell function and behavior through metabolic profile analysis, real-time cellular impedance measurements, and traditional cytometry techniques.

Characterizing cellular behavior and function is an increasingly critical step in understanding normal behavior versus diseased states, advancements of those diseases, and response to therapies, providing researchers with a more targeted approach for drug discovery and ultimately more effective therapeutics.

Our cell analysis portfolio includes cell analysis plate-based assays, flow cytometer, real-time cell analyzer, microplate reader, cell imaging system and related consumables.

Chemistries and Supplies

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Life Sciences and Applied Markets Customers

We had approximately 54,200 customers for our life sciences and applied markets business in fiscal 2023.

We had approximately 52,000 customers for our life sciences and applied markets business in fiscal year 2024.

A significant number of our life sciences and applied markets customers are also customers of our Agilent CrossLab business.

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and foreign government budgets, chemicals and advanced materials and environmental customers and large pharmaceutical company budgets.

Historically, the result is that our first and fourth fiscal quarters tend to deliver the strongest profits for this group.

Historically, the result is that our first and fourth fiscal quarters tend to deliver the strongest profits for the life sciences and applied markets business.

However, general economic trends, new product introductions and competition might overshadow this trend in any given year.

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We selectively use third parties to provide some supply chain processes for manufacturing, warehousing and logistics.

Inside the U.S., we have manufacturing facilities in California, Delaware, Massachusetts, Rhode Island and Vermont.

Outside of the U.S., we have manufacturing facilities in China, Germany, Italy, Malaysia, Netherlands, Singapore and the United Kingdom.

We have FDA registered sites in California, Vermont, Germany and Singapore.

Inside the U.S., we have manufacturing facilities in California, Delaware and Rhode Island.

Outside of the U.S., we have manufacturing facilities in Australia, China, Germany, Italy, Malaysia, Netherlands, Singapore and the United Kingdom.

We have FDA registered sites in California, Germany and Singapore.

Life Sciences and Applied Markets Competition

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Diagnostics and Genomics Business

Our diagnostics and genomics business includes the genomics, nucleic acid contract manufacturing and research and development, pathology, companion diagnostics, reagent partnership and biomolecular analysis businesses.

Our diagnostics and genomics business is comprised of six areas of activity providing active pharmaceutical ingredients ("APIs") for oligo-based therapeutics as well as solutions that include reagents, instruments, software and consumables, which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level.

First, our genomics business includes arrays for DNA mutation detection, genotyping, gene copy number determination, identification of gene rearrangements, DNA methylation profiling, gene expression profiling, as well as next generation sequencing ("NGS") target enrichment and genetic data management and interpretation support software.

This business also includes solutions that enable clinical labs to identify DNA variants associated with genetic disease and help direct cancer therapy.

Second, our nucleic acid solutions business is a contract and development manufacturing organization that provides services related to and the production of synthesized oligonucleotides under pharmaceutical good manufacturing practices ("GMP") conditions for use as API in a class of drugs that utilize nucleic acid molecules for disease therapy.

Our diagnostics and genomics business includes the cell analysis, advanced manufacturing partnerships and research and development, pathology, companion diagnostics, reagent partnership, genomics and biomolecular analysis businesses.

Our diagnostics and genomics business is comprised of seven areas of activity providing active pharmaceutical ingredients ("APIs") for oligo-based therapeutics as well as solutions that include reagents, instruments, software and consumables, which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level.

First, our cell analysis business includes instruments, reagents, software, and labware associated with unique live-cell analysis platforms in addition to mainstream flow cytometers, plate-readers, and plate washers/dispensers which are used across a broad range of applications.

Second, our advanced manufacturing partnerships business is a contract and development manufacturing organization that provides services related to and the production of synthesized oligonucleotides under pharmaceutical good manufacturing practices ("GMP") conditions for use as API in a class of drugs that utilize nucleic acid molecules for disease therapy.

Together, our BIOVECTRA and nucleic acid solutions businesses offer a broader range of contract and development manufacturing services to our customers.

They also provide clinical-to-commercial scale production capabilities focused mainly on mRNA manufacturing.

Third, our pathology solutions business is focused on product offerings for cancer diagnostics and anatomic pathology workflows.

The broad portfolio of offerings includes immunohistochemistry ("IHC"), in situ hybridization ("ISH"), hematoxylin and eosin

("H&E") staining and special staining.

The broad portfolio of offerings includes immunohistochemistry

("IHC"), in situ hybridization ("ISH"), hematoxylin and eosin ("H&E") staining and special staining.

Fourth, we also collaborate with a number of major pharmaceutical companies to develop new potential tissue pharmacodiagnostics, also known as companion diagnostics, which may be used to identify patients most likely to benefit from a specific targeted therapy.

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This business also provides bulk antibodies as raw materials and associated assay development services to in vitro diagnostics ("IVD") manufacturers, biotechnology and pharmaceutical companies.

Sixth, our genomics business includes arrays and next generation sequencing ("NGS").

This business also includes solutions that enable clinical labs to identify DNA variants associated with genetic disease and help direct cancer therapy.

Finally, our biomolecular analysis business provides complete workflow solutions, including instruments, consumables and software, for quality control analysis of nucleic acid samples.

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Diagnostics and Genomics Market

Within the diagnostics and genomics business, we focus primarily on the diagnostics and clinical market.

Our high-quality, automated pathology tissue staining platforms and solutions are used most heavily by the large labs located in hospitals and medical centers, and reference labs.

The market is skewed towards mature economies, with most of the market in North America, Western Europe and Japan.

The Diagnostics and Clinical Market.

The diagnostics and clinical market focus within the diagnostics and genomics business is to provide instruments, software, reagents, and consumables that enable customers to perform clinical research and routine testing.

Our high-quality, automated pathology tissue staining platforms and solutions are used most heavily by the large labs located in hospitals, medical centers, and reference labs.

The market focus is on mature economies primarily in North America, Western Europe and Japan.

The mix is changing, however, as emerging markets increase spending on human health.

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Analyte Specific Reagents ("ASRs") are often used by these labs.

Additionally, our Seahorse, xCELLigence, Novocyte, and BioTek platform technologies are used both stand-alone and in conjunction with mass spectrometry to understand underlying cellular physiology and interactions in normal and diseased states, as well to help understand how new drugs and therapies alter the composition, function, or interaction of cells.

In addition, our XCELLigence and Novocyte technologies can be used to characterize and quantify immune cell response (for example cytotoxicity).

The Pharmaceutical, Biopharmaceutical, CRO & CMO Market.

One sub-segment of this market is core and emerging pharmaceutical companies ("pharma").

A second sub-segment includes biopharmaceutical companies ("biopharma"), contract research organizations ("CROs") and contract manufacturing organizations ("CMOs").

Our primary focus is on biopharma working with advanced therapeutic modalities (e.g., cell and gene therapies) where we provide a suite of research tools and companion diagnostic development services.

Additionally, we provide active pharmaceutical ingredient ("API") contract development and manufacturing services for oligonucleotide-based therapeutic modalities.

With the acquisition of BIOVECTRA, we will offer our pharmaceutical customers even more specialized manufacturing capabilities for targeted therapeutics, from sterile-fill finish to a single source for gene editing solutions.

Diagnostics and Genomics Products

Our products fall into eight main areas of work:

pathology products, specific proteins and flow cytometry reagents, companion diagnostics, target enrichment, cytogenetic research solutions and microarrays, qPCR instrumentation and molecular biology reagents, nucleic acid solutions and automated electrophoresis and microfluidics solutions.

Our products fall into these main areas of work:

pathology products, cell analysis, specific proteins and flow cytometry reagents, companion diagnostics, target enrichment, cytogenetic research solutions and microarrays, qPCR instrumentation and molecular biology reagents, advanced manufacturing partnerships and automated electrophoresis and microfluidics solutions.

This area consists of routine clinical solutions for tissue-based cancer diagnostics with solutions that comprise antibodies, reagents, instruments and software targeting both primary and advanced cancer diagnostics.

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These products also include companion diagnostic tests that are used to help identify patients most likely to benefit from a specific targeted therapy.

Cell Analysis

Our cell analysis portfolio includes cell analysis plate-based assays, flow cytometer, real-time cell analyzer, microplate reader, cell imaging system and related consumables.

Bulk Antibodies and Flow Cytometry Reagents

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In addition to qPCR enzymes, we offer a wide range of molecular biology reagents including tools for cloning and mutagenesis applications.

Nucleic Acid Solutions

Our nucleic acid solutions business is a contract manufacturing and development services business with equipment and expertise focused on mid to large scale production of synthesized oligonucleotide APIs under pharmaceutical GMP conditions for a class of drugs that utilize oligonucleotide molecules for disease therapy.

Advanced Manufacturing Partnerships

Our advanced manufacturing partnerships business is a contract manufacturing and development services business with equipment and expertise focused on mid to large scale production of synthesized oligonucleotide APIs under pharmaceutical GMP conditions for a class of drugs that utilize oligonucleotide molecules for disease therapy.

These drugs have advanced from single strand DNA molecules to complex, highly modified molecules including antisense, aptamers, double-stranded RNA, and guide RNA.

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Our nucleic acid solutions business offers industry leading experience to efficiently advance our customers' oligo drug candidates from clinical trials to commercial scale volumes with a common goal of patient health and safety.

Automated Electrophoresis and Microfluidics

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Diagnostics and Genomics Customers

We had approximately 11,400 customers for our diagnostics and genomics business in fiscal 2023.

We had approximately 14,000 customers for our diagnostics and genomics business in fiscal year 2024.

Diagnostics and Genomics Sales, Marketing and Support

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We selectively use third parties to provide some supply chain processes for manufacturing, warehousing and logistics.

In the U.S., we have manufacturing facilities in California, Colorado, Iowa, and Texas.

Outside of the U.S., we have manufacturing facilities in China, Denmark, Germany and Malaysia.

Our FDA registered sites include California, Colorado, Texas and Denmark.

In the U.S., we have manufacturing facilities in California, Colorado, Iowa, Massachusetts, Texas and Vermont.

Outside of the U.S., we have manufacturing facilities in Canada, China, Denmark, Germany, Malaysia and Singapore.

Our FDA registered sites include California, Colorado, Texas, Vermont and Denmark.

Diagnostics and Genomics Competition

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Our principal competitors in the diagnostics and genomics arena include:

Abbott Laboratories, Affymetrix, Inc., a division of Thermo Fisher Scientific Inc., Illumina, Inc., Leica Biosystems, Inc., a division of Danaher Corporation, Roche Ventana Medical Systems, Inc., a member of the Roche Group, Avecia, a division of Nitto Denko and Twist Bioscience Corporation.

Abbott Laboratories, Affymetrix, Inc., a division of Thermo Fisher Scientific Inc., Avecia, a division of Nitto Denko, Illumina, Inc., Leica Biosystems, Inc., a division of Danaher Corporation, Revvity, Inc., Roche Ventana Medical Systems, Inc., a member of the Roche Group, Sartorius and Twist Bioscience Corporation.

We compete on the basis of product performance, reliability, support quality, applications expertise, whole solution offering, global channel coverage and price.

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Agilent CrossLab Business

The Agilent CrossLab business spans the entire lab with its extensive services portfolio, which is designed to improve customer outcomes.

The majority of the portfolio is vendor neutral, meaning we can serve customers regardless of their instrument purchase choices.

The Agilent CrossLab business spans the entire lab with its extensive services portfolio, which is designed to improve customer outcomes and represents a broad range of offerings designed to serve customer needs across end-markets regardless of instrument manufacturer.

The services portfolio includes repairs, parts, maintenance, installations, training, compliance support, software as a service, asset management, consulting and various other custom services to support the customers' laboratory operations.

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The Pharmaceutical, Biopharmaceutical, CRO, CDMO & CMO Market .

Our services support customers in this market that consists of “for-profit” companies who participate across the pharmaceutical value chain in the areas of therapeutic research, discovery and development, clinical trials, manufacturing and quality assurance and quality control.

Our services support customers in this market consisting of “for-profit” companies which participate across the pharmaceutical value chain in the areas of therapeutic research, discovery and development, clinical trials, manufacturing and quality assurance and quality control.

One sub-segment of this market is core and emerging pharmaceutical companies ("pharma").

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The Academic and Government Market.

Our services support customers in this market that consists primarily of “not-for-profit” organizations and includes academic institutions, large government institutes and privately funded organizations.

Our services support customers in this market that consist primarily of “not-for-profit” organizations and include academic institutions, large government institutes and privately funded organizations.

The academic and government market plays an influential role in technology adoption and therapeutic developments for pharmaceutical and molecular diagnostics companies.

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Our services support the food production chain, including incoming inspection, new product development, quality control and assurance, and packaging.

Our services also support the food safety market in their work to analyze food for concerns ranging from pathogen contamination, genetic modification, species verification and others.

Our services also support the food safety market in their work to analyze food for concerns ranging from pathogen contamination and genetic modification to species verification and others.

The Diagnostics and Clinical Market.

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As customers continue to outsource laboratory operations and consolidate suppliers, our enterprise services consist of a broad portfolio of integrated laboratory management services including instrument services, lab supply management, asset management, procurement, informatics and scientific services.

Advancements in our offering software and service solutions will help our customers more efficiently operate a more digitally connected smart lab that can derive more value out of data analytics, artificial intelligence and robotics.

Advancements in our offering of software and service solutions will help our customers more efficiently operate a digitally connected smart lab that can derive value out of data analytics, artificial intelligence and robotics.

Agilent CrossLab Customers

We had approximately 49,900 Agilent CrossLab customers in fiscal 2023.

We had approximately 50,000 Agilent CrossLab customers in fiscal year 2024.

A significant number of our Agilent CrossLab customers are also customers of our life sciences and applied markets business.

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We compete on the basis of reliability, support quality, applications expertise, global channel coverage and price.

Agilent Technologies Research Laboratories

Agilent Technologies Research Laboratories ("Agilent Labs") is our central research organization based in Santa Clara, California.

Agilent Labs create competitive advantage through high-impact technology, driving market leadership and growth in our core businesses and expanding Agilent's footprint into adjacent markets.

At the cross-roads of the organization, the Agilent Labs are able to identify and enable synergies across our businesses to create competitive differentiation and compelling customer value.

The technical staff have advanced degrees that cover a wide range of scientific and engineering fields, including molecular and cell biology, chemistry, physics, pathology, mathematics, software and informatics, artificial intelligence, deep and machine learning, image processing, nano/microfabrication, and fluidics.

Global Infrastructure Organization

We provide support to our businesses through our global infrastructure organization.

This support includes services in the areas of finance, tax, treasury, legal, real estate, insurance services, workplace services, human resources, information technology services, order administration and other corporate infrastructure expenses.

This support includes services in the areas of finance, tax, treasury, legal, real estate, insurance services, workplace services, human resources, information technology services, quality and regulatory services, corporate development and other corporate infrastructure expenses.

Generally, these organizations are managed from Santa Clara, California, with operations and services provided worldwide.

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Our order fulfillment and supply chain organization (“OFS”) focuses on order fulfillment and supply chain operations in our businesses.

OFS provides resources for manufacturing, engineering and strategic sourcing to our respective businesses.

OFS provides resources for manufacturing, engineering, logistics, and strategic sourcing to our respective businesses.

In general, OFS employees are dedicated to specific businesses and the associated costs are directly allocated to those businesses.

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Our research and development efforts focus on potential new products and product improvements covering a wide variety of technologies, none of which is individually significant to our operations.

Our research seeks to improve on various technical competencies in software, systems and solutions, life sciences and diagnostics.

Our research seeks to improve on various technical competencies in software, systems and solutions.

In each of these research fields, we conduct research that is focused on specific product development for release in the short-term as well as other research that is intended to be the foundation for future products over a longer time-horizon.

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Although we address these potential risks in our business continuity planning, such events could make it difficult for us to deliver products and services to our customers and cause us to incur substantial expense.

In addition to monitoring and managing compliance with environmental regulations, we are also committed to sustainability and environmental protection.

In 2021, we committed to achieve net-zero greenhouse gas emissions no later than 2050.

As part of our climate action plan, we have established near and long term emission reduction targets to limit planetary

warming to 1.5 °C above pre-industrial levels which have been approved by the Science Based Targets initiative ("SBTi").

For more information on our approach to sustainability management, refer to our 2022 ESG report, which is available on our website.

In addition to monitoring and managing compliance with environmental regulations, we strive to advance our sustainability practices.

In 2021, we announced our goal to achieve net-zero greenhouse gas emissions by 2050.

In 2023, we announced near and long term greenhouse gas emission reduction targets which were validated by the Science Based Targets initiative ("SBTi").

We also aim to provide transparency on our approach to sustainability management through our annual ESG report.

Regulatory Affairs

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Department of Health and Human Services, the Centers for Medicare and Medicaid Services and certain similar foreign regulatory agencies.

These regulations govern a wide variety of product and service related activities, from quality management, design and development to labeling, manufacturing, promotion, sales and distribution.

If we fail to comply with FDA and other applicable regulatory requirements or are perceived to potentially have failed to comply, we may face, among other things, warning letters;

These regulations govern a wide variety of product and service related activities, from quality management, design and development to manufacturing, labeling, promotion, sales and distribution.

If we fail to comply with FDA regulations and other applicable regulatory requirements or are perceived to potentially have failed to comply, we may face, among other things, warning letters;

adverse publicity;

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In Europe, the European Union has started to enforce new requirements, known as the EU In Vitro Diagnostic Regulation (“EU IVDR”), which imposes stricter requirements for the marketing and sale of in vitro diagnostics in the European Union.

These new regulations are more stringent in a variety of areas, including clinical requirements, quality systems and post-market surveillance activities.

The new EU IVDR requirements became effective starting in May 2022.

These regulations are more stringent in a variety of areas, including clinical evidence requirements, quality management systems and post-market surveillance activities.

The EU IVDR requirements became effective starting in May 2022.

We are subject to laws and regulations governing government contracts, and failure to address these laws and regulations or comply with government contracts could harm our business by leading to a reduction in revenue associated with these customers.

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Global privacy laws, including the EU's General Data Protection Regulation ("GDPR”), Brazil’s Lei Geral de Protecao de Dados , China's Personal Information Protection Law and Data Security Law, and the California Consumer Privacy Act, apply to our activities involving the processing of personal data, both in relation to our product and service offerings and the management of our workforce.

The global proliferation of privacy laws, with governmental authorities around the world passing or considering passing legislative and regulatory proposals concerning privacy and data protection, continues to result in new requirements regarding the handling of personal data, with many such laws imposing significant penalties for non-compliance (including possible fines of up to four percent of total company revenue under the GDPR).

The global proliferation of privacy laws, with governmental authorities around the world passing or considering passing legislative and regulatory proposals concerning

privacy and data protection, continues to result in new requirements regarding the handling of personal data, with many such laws imposing significant penalties for non-compliance (including possible fines of up to four percent of total company revenue under the GDPR).

Each of these privacy, security and data protection laws and regulations could impose significant limitations and increase our cost of providing our products and services where we process end user personal data and could harm our results of operations and expose us to significant fines, penalties and other damages.

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Our instruments, software, services, solutions and people provide trusted answers to customers’ most challenging questions.

Whether we are working with our customers to keep food supplies safe, improve the quality of air, water and soil, or fight cancer with more precise diagnoses and targeted treatments, our employees share a passion and commitment to

advancing the quality of life.

We believe that our future success largely depends upon our continued ability to attract and retain highly skilled employees in order to fulfill that commitment.

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Approximately 50 percent of our board is comprised of directors representing underrepresented groups as of the date of this report.

We have launched a number of company-wide initiatives including employee-network groups aimed at promoting engagement of traditionally underrepresented groups of employees.

We have launched a number of company-wide initiatives including employee-network groups aimed at promoting engagement of traditionally historically underrepresented groups of employees.

We provide our employees with competitive salaries and bonuses, opportunities for equity ownership, development programs that enable continued learning and growth and a robust employment package that promotes well-being across all aspects of their lives, including health care, retirement planning and paid time off.

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We ensure managers and employees receive periodic workplace safety training and provide wellness programs that contribute to the productivity, health, and well-being of employees.

In addition, our crisis management program includes a global tool that enables us to reach, locate and support employees in travel or in crisis areas.

In addition, our crisis management program includes a global tool that

enables us to reach, locate and support employees in travel or in crisis areas.

We regularly evaluate and review with senior management the performance of our programs and processes.

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Hansen, Deloitte Consulting and NVE.

Phil Binns, 62, has served as our Senior Vice President, Agilent and President, Life Sciences and Applied Markets Group since September 2023.

From January 2015 to September 2023, Mr.

Binns served as Agilent Vice President and General Manager for the Spectroscopy and Vacuum Products Division.

From 2010 to January 2015, Mr Binns served as Agilent Vice President and General Manager for the Spectroscopy Division.

Prior to joining Agilent in 2010, he held various positions in Varian’s global operations since 1994, including his appointment as General Manager of Varian’s field operations in 2004 for the Pacific Rim.

Bret DiMarco , 56, has served as our Senior Vice President, Agilent and Chief Legal Officer and Secretary since July 2024.

Prior to joining Agilent, he served as the Chief Legal Officer at Pendo.io Incorporated, a privately held company, from September 2022 to June 2024.

From June 2006 to July 2022, he held several positions at Coherent, Inc., including Executive Vice President, General Counsel, Chief Legal Officer and Corporate Secretary until its acquisition by II-VI Incorporated after which he served as a Special Advisor to the President until September 2022.

Since September 2004, Mr.

DiMarco has been an Adjunct Associate Professor of Law at the University of California College of the Law, San Francisco.

From October 2023 to present, Mr.

DiMarco has been the Chair of the Nasdaq Exchange Nominating Committee and a member of the Nasdaq Exchange Review Council.

DiMarco was previously a member and associate at Wilson Sonsini Goodrich & Rosati, P.C., a multinational law firm.

Rodney Gonsalves, 59, has served as our Vice President, Corporate Controllership and Chief Accounting Officer since May 2015.

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Gonsalves held a variety of positions in finance with Hewlett-Packard Company.

Grau, 64, has served as our Senior Vice President, Human Resources and Global Communications since November 2018.

From August 2014 to October 2018 he served as Senior Vice President, Human Resources.

From May 2012 to August 2014 Mr.

Grau served as Vice President, Worldwide Human Resources.

Prior to that, he served as Vice President, Compensation, Benefits and HR Services from May 2006 to May 2012.

Grau had previously served in various capacities for Agilent and Hewlett-Packard Company.

Padraig McDonnell , 52, has served as our Chief Commercial Officer and President, Agilent CrossLab Group since November 2021.

Jonah Kirkwood , 44, has served as our Senior Vice President, Agilent and Chief Commercial Officer, Commercial Organization since November 2024.

From June 2023 to October 2024, Mr.

Kirkwood led Agilent's Global Sales organization for Laboratory Solution Sales as well as the Greater China Sales organization.

Kirkwood led our Commercial Marketing and Operations teams from November 2021 to May 2023.

Prior to that, he held various positions in Agilent.

Kirkwood first joined Agilent in 2010 after Agilent acquired Varian.

Simon May , 53, has served as our Senior Vice President, Agilent and President, Diagnostics and Genomics Group since May 2024.

Prior to joining Agilent, he served as Executive Vice President and President of the Life Science Group at Bio-Rad Laboratories (“Bio-Rad”) from January 2022 to May 2024.

During his 10-year tenure at Bio-Rad, Mr.

May held various leadership roles including that of Senior Vice President, General Manager of the Digital Biology Group from January 2020 to December 2021 and as Senior Vice President of Global Commercial Operations from October 2015 to January 2020.

Before joining Bio-Rad in 2014, Mr.

May held positions at Thermo Fisher Scientific for 10 years.

Padraig McDonnell , 53, has served as our President and Chief Executive Officer since May 2024.

From February 2024 to May 2024, he served as Senior Vice President, Chief Operating Officer and CEO-elect.

Mr McDonnell served as Chief Commercial Officer and President, Agilent CrossLab Group from November 2021 to February 2024.

From May 2020 to November 2021, he served as Senior Vice President, Agilent and President, Agilent CrossLab Group.

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McMahon has served as a member of the Board of Directors of Orasure Technologies, Inc.

McMullen , 62, has served as Chief Executive Officer since March 2015 and as President since September 2014.

From September 2014 to March 2015 he also served as Chief Operating Officer.

From September 2009 to September 2014, he served as Senior Vice President, Agilent and President, Chemical Analysis Group.

Prior to that, he served in various capacities for Agilent, including as our Vice President and General Manager of the Chemical Analysis Solutions Unit of the Life Sciences and Chemical Analysis Group and Country Manager for Agilent's China, Japan and Korea Life Sciences and Chemical Analysis Group.

Prior to that, Mr.

McMullen served as Controller for the Hewlett‑Packard Company and Yokogawa Electric Joint Venture from July 1996 to March 1999.

From September 2018 to July 2022, Mr.

McMullen served as a member of the Board of Directors of Coherent, Inc.

Since July 2023, Mr.

McMullen has served as a member of the Board of Directors of KLA Corporation.

Michael Tang, 49, has served as our Senior Vice President, General Counsel and Secretary since January 2016.

From May 2015 to January 2016 he served as Vice President, Assistant General Counsel and Secretary and from November 2013 to April 2015 he served as Vice President, Assistant General Counsel and Assistant Secretary.

From March 2012 to October 2013 he served as Business Development Manager in Agilent’s Corporate Development group.

Reimann , 54, has served as our Senior Vice President, Agilent and President, Agilent CrossLab Group since February 2024.

From August 2021 to February 2024, she served as Vice President and General Manager of Agilent CrossLab Services Division.

Riemann served as Vice President and General Manager of the Chemistries and Supplies Division from May 2020 to August 2021.

From March 2019 to May 2020, she was Vice president and General Manager of the Chemistries Division.

Prior to March 2019, she held leadership roles in the Chemistries Division, Mass Spectrometry Division and the Americas Field Organization sales organization.

Mike Zhang, 49, has served as our Senior Vice President, Agilent and President, Applied Markets Group since November 2024.

From August to November 2024, he served as Vice President and General Manager of the Gas Phase Division within the former Life Sciences and Applied Markets Group.

Prior to that, Mr.

Tang served in various capacities in Agilent's legal department.

Before joining Agilent, Mr.

Tang worked at Wilson Sonsini Goodrich & Rosati, a California law firm and Fenwick & West LLP, a California law firm.

Zhang was Vice President and General Manager for the Gas Phase Separations Division from January 2020 to August 2024.

He previously held various leadership roles in manufacturing over the span of his 22 years at Agilent.

He was a manufacturing engineer at Agilent’s Shanghai site from March 2002 to December 2019.

He also held various leadership roles in Agilent’s Order Fulfillment and Supply Chain organization and was named global manufacturing manager for GC operations and general manager of Agilent’s Shanghai site in April 2016.

Investor Information

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The address is www.investor.agilent.com.

We make available, free of charge, copies of our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after filing such material electronically or otherwise furnishing it to the SEC.

Our Amended and Restated Bylaws, Corporate Governance Standards, the charters of our Audit and Finance Committee, our Compensation Committee, our Executive Committee and our Nominating/Corporate Governance Committee, as well as our Standards of Business Conduct (including code of ethics provisions that apply to our principal executive officer, principal financial officer, principal accounting officer and senior financial officers) are available on our website at www.investor.agilent.com under “Corporate Governance”.

These items are also available in print to any stockholder in the United States and Canada who requests them by calling (877) 942-4200.

This information is also available by writing to the company at the address on the cover of this Annual Report on Form 10-K.

We make available, free of charge on our website, electronic copies of our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after filing such material electronically or otherwise furnishing it to the SEC.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business