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Bio-Rad Laboratories, Inc. – ‘10-K’ for 12/31/10 – ‘XML.R10’

On: Monday, 2/28/11, at 3:24pm ET · For: 12/31/10 · Accession #: 12208-11-16 · File #: 1-07928

  As Of               Filer                 Filing    For·On·As Docs:Size

 2/28/11  Bio-Rad Laboratories, Inc.        10-K       12/31/10   41:6M

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Form 10-K 12/31/2010                                HTML    736K 
 2: EX-3        Exhibit 3.1 Restated Certificate of Incorporation   HTML     36K 
                of Bio-Rad Laboratories, Inc.                                    
 3: EX-3        Exhibit 3.1.1 Certificate of Amendment to Restated  HTML     16K 
                Certificate on Incorporation of Bio-Rad                          
                Laboratories, Inc.                                               
 4: EX-3        Exhibit 3.2 by Laws of Bio-Rad Laboratories, Inc.   HTML     62K 
 5: EX-21       Exhibit 21.1 Listing of Subsidiaries                HTML     32K 
 7: EX-23       Consent of Deloitte & Touche, LLP, Independent      HTML     16K 
                Registered Public Accounting Firm                                
 6: EX-23       Consent of Ernst & Young LLP, Independent           HTML     16K 
                Registered Public Accounting Firm                                
 8: EX-31       Certification of Chief Executive Officer Pursuant   HTML     26K 
                to Section 302                                                   
 9: EX-31       Certification of Chief Financial Officer Pursuant   HTML     26K 
                to Section 302                                                   
10: EX-32       Certification of Chief Executive Officer Pursuant   HTML     16K 
                to Section 906                                                   
11: EX-32       Certification of Chief Financial Officer Pursuant   HTML     16K 
                to Section 906                                                   
34: XML         IDEA XML File -- Definitions and References          XML     82K 
38: XML         IDEA XML File -- Filing Summary                      XML     64K 
36: XML.R1      Document and Entity Information                      XML    232K 
37: XML.R2      Consolidated Statements of Income                    XML    295K 
25: XML.R3      Consolidated Statements of Cash Flows                XML    408K 
29: XML.R4      Consolidated Balance Sheets                          XML    485K 
33: XML.R5      Consolidated Statements of Changes in                XML    925K 
                Stockholders' Equity and Comprehensive Income                    
                (Loss)                                                           
32: XML.R6      Interim Reporting                                    XML     76K 
40: XML.R7      Accounting Policies                                  XML     97K 
22: XML.R8      Intangible Assets, Goodwill and Other                XML    132K 
31: XML.R9      Commitment and Contingencies                         XML     43K 
21: XML.R10     Debt                                                 XML     59K 
20: XML.R11     Equity                                               XML     42K 
24: XML.R12     Compensation Related Costs, Share Based Payments     XML    209K 
35: XML.R13     Other Income and Expenses                            XML     53K 
26: XML.R14     Income Taxes                                         XML    145K 
27: XML.R15     Segment Reporting                                    XML    154K 
30: XML.R16     Statement of Cash Flows, Supplemental Disclosures    XML     73K 
41: XML.R17     Business Combinations                                XML     49K 
23: XML.R18     Fair Value Measures and Disclosures                  XML    238K 
18: XML.R19     Legal Proceedings                                    XML     40K 
28: XML.R20     SEC Schedule, Article 12-09, Valuation and           XML     61K 
                Qualifying Accounts                                              
39: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    940K 
12: EX-101.INS  XBRL Instance -- bio-20101231                        XML   1.16M 
14: EX-101.CAL  XBRL Calculations -- bio-20101231_cal                XML     29K 
17: EX-101.DEF  XBRL Definitions -- bio-20101231_def                 XML     47K 
15: EX-101.LAB  XBRL Labels -- bio-20101231_lab                      XML    341K 
16: EX-101.PRE  XBRL Presentations -- bio-20101231_pre               XML    224K 
13: EX-101.SCH  XBRL Schema -- bio-20101231                          XSD     55K 
19: ZIP         XBRL Zipped Folder -- 0000012208-11-000016-xbrl      Zip     85K

‘XML.R10’ — Debt

This Financial Report is an XBRL XML File.

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<table style="border-collapse:collapse" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid"> <td width="36" style="width:27.0pt; padding:0in 0in 0in 0in" valign="top"> 5. </td> <td width="319" style="width:239.4pt; padding:0in 5.4pt 0in 5.4pt" valign="top"> NOTES PAYABLE AND LONG-TERM DEBT </td> </tr> </table> Notes payable includes credit lines maintained locally by our international subsidiaries aggregating approximately $51.2 million, of which $48.0 million was unused at December 31, 2010. At December 31, 2009, these lines aggregated approximately $52.7 million, of which $49.1 million was unused. The weighted average interest rate on these lines was 1.4% and 4.0% at December 31, 2010 and 2009, respectively. Bio-Rad guaranteed most of these credit lines. The principal components of long-term debt are as follows (in millions): <div align="center"> <table style="border-collapse:collapse" cellpadding="0" cellspacing="0"> <tr style="page-break-inside:avoid"> <td width="406" colspan="5" style="width:304.35pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; padding:0in 0in 0in 0in" valign="top"> December 31, </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; padding:0in 0in 0in 0in" valign="top"> December 31, </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> 2010 </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> 2009 </td> </tr> <tr style="page-break-inside:avoid; height:.05in"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt; height:.05in" valign="top"> </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt; height:.05in" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; padding:0in 0in 0in 0in; height:.05in" valign="top"> </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt; height:.05in" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; padding:0in 0in 0in 0in; height:.05in" valign="top"> </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> 7.5% Senior Subordinated Notes </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; padding:0in 0in 0in 0in" valign="top"> $ 225.0 </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; padding:0in 0in 0in 0in" valign="top"> $ 225.0 </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> 6.125% Senior Subordinated Notes </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; background:#CCFFCC; padding:0in 2.15pt 0in 0in" valign="top"> -- </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> 200.0 </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> 8.0% Senior Subordinated Notes </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; padding:0in 0in 0in 0in" valign="top"> 295.6 </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; padding:0in 0in 0in 0in" valign="top"> 295.1 </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> 4.875% Senior Notes </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> 422.6 </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; background:#CCFFCC; padding:0in 2.15pt 0in 0in" valign="top"> -- </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> Capital leases and other debt </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> 21.0 </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> 22.5 </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> 964.2 </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> 742.6 </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; padding:0in 0in 0in 1.45pt" valign="top"> Less current maturities </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> (233.1) </td> <td width="12" style="width:9.0pt; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 0in 0in 0in" valign="top"> (4.7) </td> </tr> <tr style="page-break-inside:avoid"> <td width="223" style="width:167.15pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> Long-term debt </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="81" style="width:60.85pt; border:none; border-bottom:double windowtext 1.5pt; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> $ 731.1 </td> <td width="12" style="width:9.0pt; background:#CCFFCC; padding:0in 0in 0in 1.45pt" valign="top"> </td> <td width="78" style="width:58.35pt; border:none; border-bottom:double windowtext 1.5pt; background:#CCFFCC; padding:0in 0in 0in 0in" valign="top"> $ 737.9 </td> </tr> </table> </div> In December 2010, Bio-Rad sold $425.0 million principal amount of Senior Notes due 2020 (4.875% Notes). The sale yielded net cash proceeds of $422.6 million at an effective rate of 4.946%. The 4.875% Notes pay a fixed rate of interest of 4.875% per year. We have the option to redeem any or all of the 4.875% Notes at any time at a redemption price of 100% of the principal amount (plus a specified make-whole premium as defined in the indenture governing the 4.875% Notes) and accrued and unpaid interest thereon to the redemption date. Our obligations under the 4.875% Notes are not secured and rank equal in right of payment with all of our existing and future unsubordinated indebtedness. The net proceeds from the issuance of the 4.875% Notes were used, together with cash on hand, to redeem all $200 million of our 6.125% Notes (as defined below) in December 2010 and all $225 million of our 7.5% Notes (as defined below) in January 2011. In June 2010, Bio-Rad entered into a $200.0 million Amended and Restated Credit Agreement (Credit Agreement). Borrowings under the Credit Agreement are on a revolving basis and can be used for acquisitions, for working capital and for other general corporate purposes. We had no outstanding borrowings under the Credit Agreement as of December 31, 2010. The Credit Agreement expires on June 21, 2014. In May 2009, Bio-Rad sold $300.0 million principal amount of Senior Subordinated Notes due 2016 (8.0% Notes). The sale yielded net cash proceeds of $294.8 million at an effective interest rate of 8.3%. The 8.0% Notes pay a fixed rate of interest of 8.0% per year. We have the option to redeem any or all of the 8.0% Notes at any time prior to September 15, 2013 at a redemption price of 100% of the principal amount thereof plus a specified make-whole premium (as defined in the indenture) governing the 8.0% Notes and accrued and unpaid interest thereon to the redemption date. We also have the option to redeem any or all of the 8.0% Notes at any time on or after September 15, 2013 at various declining redemption prices plus accrued and unpaid interest thereon to the redemption date. Our obligations under the 8.0% Notes are not secured, rank equal in right of payment with all of our existing and future senior subordinated indebtedness and rank junior in right of payment to all of our existing and future unsubordinated indebtedness, including any borrowings under the Credit Agreement and the 4.875% Notes. In December 2004, Bio-Rad sold $200.0 million principal amount of Senior Subordinated Notes due 2014 (6.125% Notes). In December 2010, we redeemed all of the 6.125% Notes for $204.3 million, including a call premium, which is included in Interest expense in our Consolidated Statements of Income. In August 2003, Bio-Rad sold $225.0 million principal amount of Senior Subordinated Notes due 2013 (7.5% Notes). In January 2011, we redeemed all of the 7.5% Notes for $234.6 million, including a call premium, which will be included in Interest expense in our Consolidated Statements of Income. The Credit Agreement is secured by substantially all of our personal property assets, the assets of our domestic subsidiaries and 65% of the capital stock of certain of our foreign subsidiaries. It is guaranteed by all of our existing and future material domestic subsidiaries. The Credit Agreement and the 8.0% Notes require Bio-Rad to comply with certain financial ratios and covenants, among other things. These ratios and covenants include a leverage ratio test and an interest coverage test, as well as restrictions on our ability to declare or pay dividends, incur debt, guarantee debt, enter into transactions with affiliates, merge or consolidate, sell assets, make investments, create liens and prepay subordinated debt. We were in compliance with all of these ratios and covenants as of December 31, 2010. Maturities of long-term debt at December 31, 2010 are as follows: 2011 - $233.1 million; 2012 - $0.4 million; 2013 - $0.2 million; 2014 - $0.1 million; 2015 - $0.1 million; thereafter - $730.3 million.

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5 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/16/24  Bio-Rad Laboratories, Inc.        10-K       12/31/23  103:14M
 2/17/23  Bio-Rad Laboratories, Inc.        10-K       12/31/22  101:17M
 2/15/22  Bio-Rad Laboratories, Inc.        S-3ASR      2/15/22    6:731K                                   Donnelley … Solutions/FA
 2/11/22  Bio-Rad Laboratories, Inc.        10-K       12/31/21   96:16M
 2/16/21  Bio-Rad Laboratories, Inc.        10-K       12/31/20   97:16M

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Filing Submission 0000012208-11-000016 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Bio-Rad Laboratories, Inc. – ‘10-K’ for 12/31/10 – ‘XML.R10’

On: Monday, 2/28/11, at 3:24pm ET · For: 12/31/10 · Accession #: 12208-11-16 · File #: 1-07928

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘XML.R10’ — Debt

This Financial Report is an XBRL XML File.

5 Subsequent Filings that Reference this Filing

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents