Benefit plans, net of tax expense of $0 and $(991) in 2022 and $0 and $0 in 2021

  
IDEXX LABORATORIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) (Unaudited) 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30, |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |
|  |  |  |  |  |  |  |  |
| Net income | $ | 180,938  |  |  | $ | 175,178  |  |  | $ | 506,882  |  |  | $ | 582,073  |  |
| Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |
| Foreign currency translation adjustments | (31,220) |  |  | (12,967) |  |  | (59,024) |  |  | (20,213) |  |
| Benefit plans, net of tax expense of $0 and $(991) in 2022 and $0 and $0 in 2021 | —  |  |  | —  |  |  | (5,056) |  |  | —  |  |
| Reclassification adjustment for benefit plans included in net income, net of tax of $23 and $74 in 2022 and $0 and $0 in 2021 | 118  |  |  | —  |  |  | 378  |  |  | —  |  |
| Unrealized gain on Euro-denominated notes, net of tax expense (benefit) of $1,713 and $3,438 in 2022 and $498 and $1,335 in 2021 | 5,495  |  |  | 1,581  |  |  | 11,028  |  |  | 4,235  |  |
| Unrealized (loss) on investments, net of tax expense (benefit) of $(3) and $(15) in 2022 and $0 and $48 in 2021 | (10) |  |  | (1) |  |  | (52) |  |  | 153  |  |
| Unrealized gain (loss) on derivative instruments: |  |  |  |  |  |  |  |
| Unrealized gain on foreign currency exchange contracts, net of tax expense (benefit) of $4,634 and $10,368 in 2022 and $940 and $1,595 in 2021 | 13,490  |  |  | 4,109  |  |  | 26,930  |  |  | 7,300  |  |
| Unrealized gain on cross currency swaps, net of tax expense (benefit) of $1,657 and $3,303 in 2022 and $744 and $1,438 in 2021 | 5,319  |  |  | 2,359  |  |  | 10,597  |  |  | 4,561  |  |
| Reclassification adjustment for (gain) included in net income, net of tax benefit (expense) of $(2,254) and $(4,441) in 2022 and $330 and $1,206 in 2021 | (6,381) |  |  | 1,253  |  |  | (12,211) |  |  | 5,522  |  |
| Unrealized gain on derivative instruments | 12,428  |  |  | 7,721  |  |  | 25,316  |  |  | 17,383  |  |
| Other comprehensive (gain) loss, net of tax | (13,189) |  |  | (3,666) |  |  | (27,410) |  |  | 1,558  |  |
| Comprehensive income | 167,749  |  |  | 171,512  |  |  | 479,472  |  |  | 583,631  |  |
| Less: Comprehensive loss attributable to noncontrolling interest | —  |  |  | (57) |  |  | —  |  |  | (1) |  |
| Comprehensive income attributable to IDEXX Laboratories, Inc. | $ | 167,749  |  |  | $ | 171,569  |  |  | $ | 479,472  |  |  | $ | 583,632  |  |
|  |  |  |  |  |  |  |  |
| The accompanying notes are an integral part of these condensed consolidated financial statements. |  |  |
|  |  |  |  |  |  |  |  |

5
