Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

(Unaudited)

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
Net revenue:
Products			$	1,333					$	1,230					$	3,911					$	3,616
Services and other			545						508						1,600						1,471
Total net revenue			1,878						1,738						5,511						5,087
Costs and expenses:
Cost of products			559						577						1,697						1,650
Cost of services and other			277						273						836						784
Total costs			836						850						2,533						2,434
Research and development			123						111						366						336
Selling, general and administrative			475						417						1,416						1,281
Total costs and expenses			1,434						1,378						4,315						4,051
Income from operations			444						360						1,196						1,036
Interest income			15						16						43						45
Interest expense			(29)						(28)						(79)						(85)
Other income (expense), net			14						18						56						(3)
Income before taxes			444						366						1,216						993
Provision for income taxes			82						30						210						124
Net income			$	362					$	336					$	1,006					$	869
Net income per share:
Basic			$	1.28					$	1.18					$	3.55					$	3.05
Diluted			$	1.28					$	1.18					$	3.55					$	3.05
Weighted average shares used in computing net income per share:
Basic			282						284						283						285
Diluted			283						285						283						285

The accompanying notes are an integral part of these condensed consolidated financial statements.

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in millions)

(Unaudited)

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
Net income			$	362					$	336					$	1,006					$	869
Other comprehensive income (loss):
Unrealized gain (loss) on derivative instruments, net of tax expense (benefit) of $0, $1, $(2) and $0			(1)						2						(3)						(1)
Amounts reclassified into earnings related to derivative instruments, net of tax expense (benefit) of $0, $2, $1 and $0			(1)						5						—						2
Foreign currency translation, net of tax expense (benefit) of $0, $0, $0 and $0			(24)						(5)						9						30
Net defined benefit pension cost and postretirement plan costs:
Change in actuarial net gain (loss), net of tax expense (benefit) of $(2), $(3), $(5) and $(5)			(5)						(4)						(13)						(8)
Change in net prior service benefit, net of tax expense (benefit) of $0, $0, $0 and $0			—						(1)						—						(1)
Other comprehensive income (loss)			(31)						(3)						(7)						22
Total comprehensive income			$	331					$	333					$	999					$	891

The accompanying notes are an integral part of these condensed consolidated financial statements.

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except par value and share data)

(Unaudited)

			July 31, 2026						October 31, 2025
ASSETS
Current assets:
Cash and cash equivalents			$	1,758					$	1,789
Accounts receivable, net			1,478						1,487
Inventory			1,117						1,025
Other current assets			340						293
Total current assets			4,693						4,594
Property, plant and equipment, net			2,134						2,023
Goodwill			5,030						4,473
Other intangible assets, net			906						445
Long-term investments			130						133
Other assets			1,074						1,059
Total assets			$	13,967					$	12,727
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable			$	608					$	570
Employee compensation and benefits			423						443
Deferred revenue			640						624
Short-term debt			304						304
Other accrued liabilities			314						406
Total current liabilities			2,289						2,347
Long-term debt			3,645						3,050
Retirement and postretirement benefits			128						126
Other long-term liabilities			542						463
Total liabilities			6,604						5,986
Commitments and contingencies (Note 13)
Total equity:
Stockholders’ equity:
Preferred stock; $0.01 par value; 125,000,000 shares authorized; none issued and outstanding at July 31, 2026 and October 31, 2025			—						—
Common stock; $0.01 par value; 2,000,000,000 shares authorized; 281,965,813 shares at July 31, 2026 and 283,054,377 shares at October 31, 2025 issued and outstanding			3						3
Additional paid-in-capital			5,681						5,575
Retained earnings			1,912						1,389
Accumulated other comprehensive loss			(233)						(226)
Total stockholders' equity			7,363						6,741
Total liabilities and stockholders' equity			$	13,967					$	12,727

The accompanying notes are an integral part of these condensed consolidated financial statements.

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

(Unaudited)

			Nine Months Ended
			July 31,
			2026						2025
Cash flows from operating activities:
Net income			$	1,006					$	869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			200						217
Share-based compensation			105						102
Deferred taxes expense (benefit)			77						(35)
Excess and obsolete inventory related charges			35						30
Net (gain) loss on equity securities			2						28
Asset impairment charges			—						15
Other non-cash (income) expense, net			12						4
Changes in assets and liabilities:
Accounts receivable, net			16						(44)
Inventory			(110)						(72)
Accounts payable			41						(13)
Employee compensation and benefits			(25)						(26)
Other assets and liabilities			(295)						(61)
Net cash provided by operating activities			1,064						1,014
Cash flows from investing activities:
Payments to acquire property, plant and equipment			(249)						(314)
Proceeds from sale of equity securities			—						5
Proceeds from convertible note			—						2
Payments in exchange for convertible note			(3)						(1)
Payments to acquire businesses and intangible assets, net of cash acquired			(950)						4
Net cash used in investing activities			(1,202)						(304)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock plans			63						60
Payments of taxes related to net share settlement of equity awards			(31)						(28)
Payments for repurchase of common stock			(295)						(340)
Payment of excise taxes related to repurchases of common stock			(3)						(10)
Payments of dividends			(216)						(212)
Proceeds from issuance of long-term debt			600						4
Repayments of long-term debt			(4)						(2)
Payments of debt issuance costs			(5)						—
Net proceeds from (repayments of) short-term debt			—						13
Payments of finance lease			(4)						—
Net cash provided by (used in) financing activities			105						(515)
Effect of exchange rate movements			2						10
Net increase (decrease) in cash, cash equivalents and restricted cash			(31)						205
Cash, cash equivalents and restricted cash at beginning of period			1,791						1,332
Cash, cash equivalents and restricted cash at end of period			$	1,760					$	1,537
Supplemental cash flow information:
Income tax paid, net of refunds received			$	376					$	304
Interest payments, net of capitalized interest			$	47					$	55
Net change in property, plant and equipment included in accounts payable and accrued liabilities-increase (decrease)			$	(9)					$	—
Excise tax on share repurchases, accrued but not paid			$	2					$	2

The accompanying notes are an integral part of these condensed consolidated financial statements.

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(in millions, except number of shares in thousands and per share data)

(Unaudited)

			Common Stock																								Accumulated Other Comprehensive Loss
Three Months Ended July 31, 2026			Number of Shares						Par Value						Additional Paid-in Capital						Retained Earnings						Total Stockholders' Equity
Balance as of April 30, 2026			282,218						$	3					$	5,629					$	1,692					$	(202)					$	7,122
Components of comprehensive income, net of tax:
Net income			—						—						—						362						—						362
Other comprehensive income (loss)			—						—						—						—						(31)						(31)
Total comprehensive income																																	331
Cash dividends declared ($0.255 per common share)			—						—						—						(72)						—						(72)
Share-based awards issued, net of tax of $2			360						—						29						—						—						29
Repurchase of common stock, including excise taxes			(612)						—						(9)						(70)						—						(79)
Share-based compensation			—						—						32						—						—						32
Balance as of July 31, 2026			281,966						$	3					$	5,681					$	1,912					$	(233)					$	7,363

			Common Stock																								Accumulated Other Comprehensive Loss
Nine Months Ended July 31, 2026			Number of Shares						Par Value						Additional Paid-in Capital						Retained Earnings						Total Stockholders' Equity
Balance as of October 31, 2025			283,054						$	3					$	5,575					$	1,389					$	(226)					$	6,741
Components of comprehensive income, net of tax:
Net income			—						—						—						1,006						—						1,006
Other comprehensive income (loss)			—						—						—						—						(7)						(7)
Total comprehensive income																																	999
Cash dividends declared ($0.765 per common share)			—						—						—						(216)						—						(216)
Share-based awards issued, net of tax of $31			1,124						—						31						—						—						31
Repurchase of common stock, including excise taxes			(2,212)						—						(30)						(267)						—						(297)
Share-based compensation			—						—						105						—						—						105
Balance as of July 31, 2026			281,966						$	3					$	5,681					$	1,912					$	(233)					$	7,363

			Common Stock																								Accumulated Other Comprehensive Loss
Three Months Ended July 31, 2025			Number of Shares						Par Value						Additional Paid-in Capital						Retained Earnings						Total Stockholders' Equity
Balance as of April 30, 2025			283,936						$	3					$	5,501					$	912					$	(280)					$	6,136
Components of comprehensive income, net of tax:
Net income			—						—						—						336						—						336
Other comprehensive income (loss)			—						—						—						—						(3)						(3)
Total comprehensive income																																	333
Cash dividends declared ($0.248 per common share)			—						—						—						(71)						—						(71)
Share-based awards issued, net of tax of $4			395						—						25						—						—						25
Repurchase of common stock, including excise taxes			(737)						—						(10)						(75)						—						(85)
Share-based compensation			—						—						32						—						—						32
Balance as of July 31, 2025			283,594						$	3					$	5,548					$	1,102					$	(283)					$	6,370

			Common Stock																								Accumulated Other Comprehensive Loss
Nine Months Ended July 31, 2025			Number of Shares						Par Value						Additional Paid-in Capital						Retained Earnings						Total Stockholders' Equity
Balance as of October 31, 2024			285,193						$	3					$	5,450					$	750					$	(305)					$	5,898
Components of comprehensive income, net of tax:
Net income			—						—						—						869						—						869
Other comprehensive income (loss)			—						—						—						—						22						22
Total comprehensive income																																	891
Cash dividends declared ($0.744 per common share)			—						—						—						(212)						—						(212)
Share-based awards issued, net of tax of $28			1,135						—						33						—						—						33
Repurchase of common stock, including excise taxes			(2,734)						—						(37)						(305)						—						(342)
Share-based compensation			—						—						102						—						—						102
Balance as of July 31, 2025			283,594						$	3					$	5,548					$	1,102					$	(283)					$	6,370

The accompanying notes are an integral part of these condensed consolidated financial statements.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1. OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

Our fiscal year-end is October 31, and our fiscal quarters end on January 31, April 30 and July 31. Unless otherwise stated, these dates refer to our fiscal year and fiscal quarters.

Basis of Presentation. We have prepared the accompanying financial data for the three and nine months ended July 31, 2026 and 2025 pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles ("GAAP") in the U.S. have been condensed or omitted pursuant to such rules and regulations. The October 31, 2025 condensed balance sheet data was derived from audited financial statements but does not include all the disclosures required in audited financial statements by U.S. GAAP. The accompanying financial data and information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended October 31, 2025.

In the opinion of management, the accompanying condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair statement of our condensed consolidated balance sheets as of July 31, 2026 and October 31, 2025, condensed consolidated statements of comprehensive income for the three and nine months ended July 31, 2026 and 2025, condensed consolidated statements of operations for the three and nine months ended July 31, 2026 and 2025, condensed consolidated statements of cash flows for the nine months ended July 31, 2026 and 2025 and condensed consolidated statements of equity for the three and nine months ended July 31, 2026 and 2025.

Risks and Uncertainties. We are subject to risks common to companies in the analytical instrument industry, such as global economic and financial market conditions, fluctuations in foreign currency exchange rates and fluctuations in customer demand, among others. See Part II, Item 1A, "Risk Factors" for additional discussion of such risks and uncertainties.

On February 20, 2026, the U.S. Supreme Court invalidated certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”), and the U.S. Court of International Trade ordered U.S. Customs and Border Protection (“CBP”) to refund such tariffs, subject to potential appeal. On April 20, 2026, CBP launched an online portal for submitting IEEPA tariff refund requests. While we have submitted additional claims for refunds related to certain eligible tariffs paid, the timing and approval of any remaining refunds are uncertain and contingent upon further legal, regulatory, and administrative developments. Management continues to assess the recoverability of tariffs paid and will continue to recognize any recoveries in accordance with the gain contingency model when it is realized or realizable upon formal acceptance of refund claims submitted.

Additionally, the continued geopolitical tensions in the Middle East and surrounding regions have increased global economic uncertainty and disruptions to global energy supply chains resulting in inflationary pressures. The Middle East conflict did not have a material impact on our results of operations through the third quarter of fiscal year 2026 as a result of leveraging a series of mitigation strategies developed in response to the ongoing tariff pressures. As the situation remains dynamic, we continue to monitor the potential impact that such geopolitical tensions may have on our business.

Acquisition. On June 24, 2026, we acquired 100 percent of the outstanding capital stock of BC Midco I, Inc. (“Biocare”) for a net consideration of $950 million. Biocare is a leading provider of clinical and research solutions and is included within our Life Sciences and Diagnostics Markets segment. The acquisition of Biocare expands our pathology portfolio enabling us to better serve our pathology customers across clinical and research settings. The acquisition has been accounted for in accordance with the authoritative accounting guidance for business combinations. As a result of the acquisition, Biocare became a wholly-owned subsidiary of Agilent. Accordingly, the financial results of Biocare are included within our condensed consolidated financial statements from the date of acquisition. See Note 3, "Acquisitions" for additional information.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Use of Estimates. The preparation of condensed consolidated financial statements in accordance with GAAP in the U.S. requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events and actions that may impact the company in the future, actual results may be different from the estimates. Our critical accounting policies are those that affect our financial statements materially and involve difficult, subjective or complex judgments by management. Those policies are revenue recognition, valuation of goodwill and purchased intangible assets, inventory valuation, retirement and postretirement benefit plan assumptions and accounting for income taxes.

Restricted Cash and Restricted Cash Equivalents. Restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets follows:

			July 31,						October 31,
			2026						2025
			(in millions)
Cash and cash equivalents			$	1,758					$	1,789
Restricted cash included in other assets			2						2
Total cash, cash equivalents and restricted cash			$	1,760					$	1,791

Leases. As of July 31, 2026 and October 31, 2025, operating lease right-of-use assets where we are the lessee were $187 million and $183 million, respectively, and were included within other assets in the accompanying condensed consolidated balance sheets. The associated operating lease liabilities were $199 million and $189 million as of July 31, 2026 and October 31, 2025, respectively, and were included in other accrued liabilities and other long-term liabilities in the accompanying condensed consolidated balance sheets.

Variable Interest Entities. We make a determination upon entering into an arrangement whether an entity in which we have made an investment is considered a Variable Interest Entity ("VIE"). We evaluate our investments in privately held companies on an ongoing basis. We have determined that as of July 31, 2026 and October 31, 2025, there were no VIEs required to be consolidated in our consolidated financial statements because we do not have a controlling financial interest in any of the VIEs in which we have invested nor are we the primary beneficiary. We account for these investments under either the equity method or as equity investments without readily determinable fair value ("RDFV"), depending on the circumstances. We periodically reassess whether we are the primary beneficiary of a VIE. The reassessment process considers whether we have acquired the power to direct the most significant activities of the VIE through changes in governing documents or other circumstances. We also reconsider whether entities previously determined not to be VIEs have become VIEs and vice-versa, based on changes in facts and circumstances including changes in contractual arrangements and capital structure.

As of July 31, 2026 and October 31, 2025, the total carrying value of investments and loans in privately held companies considered as VIEs was $40 million and $44 million, respectively. The maximum exposure is equal to the carrying value because we do not have future funding commitments. The investments are classified as long-term investments and the loans are classified as other current assets and other assets (depending upon tenure of loan) on the condensed consolidated balance sheets.

Fair Value of Financial Instruments. The carrying values of certain of our financial instruments including cash and cash equivalents, accounts receivable, accounts payable, accrued compensation and other accrued liabilities approximate fair value because of their short maturities. The fair value of long-term equity investments which are readily determinable, and which are not accounted for under the equity method are reported at fair value using quoted market prices for those securities when available with gains and losses included in net income. The fair value of long-term equity investments which are not readily determinable, and which are not accounted for under the equity method are reported at cost with adjustments for observable changes in prices or impairments included in net income. As of July 31, 2026, the fair value of our senior notes was $3,749 million with a carrying value of $3,928 million. This compares to the fair value of our senior notes of $3,191 million with a carrying value of $3,330 million as of October 31, 2025. The change in the fair value in the nine months ended July 31, 2026 is primarily due to the increased carrying value of our senior notes of $600 million in aggregate principal amount issued in June 2026, partially offset by increased market interest rates. The fair value was calculated from quoted prices which are primarily Level 1 inputs under the accounting guidance. The fair value of foreign currency contracts used for hedging purposes is estimated internally by using inputs tied to active markets. These inputs, for example, interest rate yield curves, foreign exchange rates, and forward and spot prices for currencies are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. See Note 10, "Fair Value Measurements" for additional information on fair value of financial instruments.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

2. NEW ACCOUNTING PRONOUNCEMENTS

There were no additions to the new accounting pronouncements not yet adopted as described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2025 except for the following:

In May 2026, the Financial Accounting Standards Board ("FASB") issued new guidance related to environmental credits and environmental credit obligations. The guidance establishes recognition, measurement, presentation, and disclosure requirements for environmental credits and environmental credit obligations. The guidance is effective for our fiscal year 2029, including interim periods within that year, with early adoption permitted. We are currently evaluating the effect of adopting this guidance on our condensed consolidated financial statements.

Other amendments to GAAP in the U.S. that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our condensed consolidated financial statements upon adoption.

3. ACQUISITION

Acquisition of Biocare

On June 24, 2026, we acquired 100 percent of the outstanding capital stock of BC Midco I, Inc. ("Biocare") for a net consideration paid of $950 million. Biocare is a leading provider of clinical and research solutions and is included within our Life Sciences and Diagnostics Markets segment. The acquisition of Biocare expands our pathology portfolio enabling us to better serve our pathology customers across clinical and research settings. As a result of the acquisition, Biocare became a wholly-owned subsidiary of Agilent. Accordingly, the results of Biocare are included in Agilent's condensed consolidated financial statements from the acquisition date.

The Biocare acquisition was accounted for in accordance with the authoritative accounting guidance for business combinations. The acquired assets and assumed liabilities were recorded at their estimated fair values. We determined the estimated fair values with the assistance of valuations performed by a third-party specialist, discounted cash flow analyses and estimates made by management. We expect to realize revenue synergies, expand the existing sales channels and product development resources, and benefit from the assembled workforce. These factors, among others, contributed to a purchase price in excess of the estimated fair value of Biocare’s net identifiable assets acquired (see summary of net assets below), and, as a result, we have recorded goodwill in connection with this transaction. All goodwill acquired was allocated to the Life Sciences and Diagnostics Markets operating segment and reporting unit as part of the purchase price allocation.

Our acquisition of Biocare is treated as a stock acquisition and therefore is not deductible for United States federal tax purposes.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

The following table summarizes the allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of June 24, 2026 (in millions):

Purchase Price
Cash paid			$	964
Less: Cash acquired			(14)
Net cash consideration			$	950
Net assets acquired
Current assets			27
Property, plant and equipment			8
Goodwill			549
Other intangible assets:
Customer relationships			372
Developed technology			145
Trade names			3
Other assets			6
Liabilities assumed			(59)
Deferred tax liability			(101)
Total net assets acquired			$	950

Other identifiable intangible assets consist of customer relationships, developed technology, and trade names. These finite-lived intangible assets have estimated useful lives of 15 years for customer relationships and developed technology and 3 years for trade names, resulting in a weighted-average estimated useful life of approximately 15 years.

Supplemental pro forma revenue and net income have not been presented because the effects of the acquisition were not material to our condensed consolidated financial statements.

4. REVENUE

The following table presents the company’s total revenue and segment revenue disaggregated by geographical region:

			Three Months Ended July 31,
			2026																								2025
			Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total						Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total
			(in millions)
Revenue by Region
Americas			$	369					$	289					$	103					$	761					$	316					$	274					$	93					$	683
Europe			201						221						82						504						201						212						79						492
Asia Pacific			176						276						161						613						153						258						152						563
Total			$	746					$	786					$	346					$	1,878					$	670					$	744					$	324					$	1,738

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

			Nine Months Ended July 31,
			2026																								2025
			Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total						Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total
			(in millions)
Revenue by Region
Americas			$	1,039					$	851					$	313					$	2,203					$	953					$	805					$	272					$	2,030
Europe			618						658						264						1,540						568						594						235						1,397
Asia Pacific			500						794						474						1,768						450						754						456						1,660
Total			$	2,157					$	2,303					$	1,051					$	5,511					$	1,971					$	2,153					$	963					$	5,087

The following table presents the company’s total revenue disaggregated by end markets and by revenue type:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Revenue by End Markets
Pharmaceutical and Biotechnology			$	707					$	629					$	2,010					$	1,817
Chemicals and Advanced Materials			430						399						1,264						1,147
Diagnostics and Clinical			284						258						842						753
Food			158						157						471						472
Academia and Government			128						132						390						404
Environmental and Forensics			171						163						534						494
Total			$	1,878					$	1,738					$	5,511					$	5,087
Revenue by Type
Instrumentation			$	643					$	599					$	1,919					$	1,774
Non-instrumentation and other			1,235						1,139						3,592						3,313
Total			$	1,878					$	1,738					$	5,511					$	5,087

Revenue by region is based on the ship to location of the customer. Revenue by end market is determined by the market indicator of the customer and by customer type. Instrumentation revenue includes sales from instruments, remarketed instruments and third-party products. Non-instrumentation revenue includes sales from contract and per incident services, companion diagnostics, contract development and manufacturing, spare parts, consumables, reagents, vacuum pumps, subscriptions, software licenses and associated services.

Contract Balances

Contract Assets

Contract assets (unbilled accounts receivable) primarily relate to the company's right to consideration for work completed but not billed at the reporting date. The unbilled receivables are reclassified to trade receivables when billed to customers. Contract assets are generally classified as current assets and are included in "Accounts receivable, net" in the condensed consolidated balance sheets. The balances of contract assets as of July 31, 2026 and October 31, 2025, were $316 million and $329 million, respectively.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Contract Liabilities

The following table provides information about contract liabilities (deferred revenue) and the changes in the balances during the nine months ended July 31, 2026:

						Contract Liabilities
						(in millions)
Ending balance as of October 31, 2025						$	803
Net revenue deferred in the period						498
Revenue recognized that was included in the contract liability balance at the beginning of the period						(487)
Change in deferrals from customer cash advances, net of revenue recognized						7
Currency translation and other adjustments						1
Ending balance as of July 31, 2026						$	822

During the nine months ended July 31, 2025, revenue recognized that was included in the contract liability balance at October 31, 2024 was $429 million.

Contract liabilities primarily relate to multiple element arrangements for which billing has occurred but transfer of control of all elements to the customer has either partially or not occurred at the balance sheet date. This includes cash received from customers for products and related installation and services in advance of the transfer of control. Contract liabilities are classified as either current in deferred revenue or long-term in other long-term liabilities in the condensed consolidated balance sheets based on the timing of when we expect to complete our performance obligation.

Contract Costs

Incremental costs of obtaining a contract with a customer are recognized as an asset if we expect the benefit of those costs to be longer than one year. We have determined that certain sales incentive programs meet the requirements to be capitalized. The change in total capitalized costs to obtain a contract was immaterial during the three and nine months ended July 31, 2026, and was included in other current and long-term assets on the condensed consolidated balance sheet. We have applied the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include the company's internal sales force compensation program, as we have determined that annual compensation is commensurate with annual sales activities.

Transaction Price Allocated to the Remaining Performance Obligations

We have applied the practical expedient in ASC 606-10-50-14 and have not disclosed information about transaction price allocated to remaining performance obligations that have original expected durations of one year or less.

The estimated revenue expected to be recognized for remaining performance obligations that have an original term of more than one year, as of July 31, 2026, was $434 million, the majority of which is expected to be recognized over the next 12 months. Remaining performance obligations primarily include extended warranty, customer manufacturing contracts, software maintenance contracts and revenue associated with lease arrangements.

5. SHARE-BASED COMPENSATION

We account for share-based awards in accordance with the provisions of the authoritative accounting guidance which requires the measurement and recognition of compensation expense for all share-based payment awards made to our employees and directors including employee stock options, restricted stock units, employee stock purchases made under our employee stock purchase plan ("ESPP") and performance share awards granted to selected members of our senior management under the long-term performance plan ("LTPP") based on estimated fair values.

Performance Stock Units. We have two LTPP performance stock award programs, which are administered under the 2018 Stock Plan, for our executive officers and other key employees. Participants in our LTPP Total Stockholders’ Return ("TSR") and LTPP Earnings Per Share ("EPS") programs are entitled to receive shares of the company's stock after the end of a

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

three-year period, if specified performance targets for the programs are met. The LTPP-TSR awards are generally designed to meet the criteria of a performance award with the performance metrics and peer group comparison based on the TSR set at the beginning of the performance period. The LTPP-EPS awards are based on the company’s EPS performance over a three-year period. The performance targets for the LTPP-EPS for year 2 and year 3 of the performance period are set in the first quarter of year 2 and year 3, respectively. For LTPP awards granted in fiscal year 2025, final payout of fiscal year 2025 awards will be further adjusted on achievement of predefined operating margin targets for fiscal year 2027. All LTPP awards granted through fiscal year 2025 are subject to a one-year post-vest holding period. The final LTPP award may vary from 0 percent to 200 percent of the target award. We consider the dilutive impact of these programs in our diluted net income per share calculation only to the extent that the performance conditions are expected to be met. Effective in fiscal year 2026, we have discontinued granting LTPP-EPS awards. In addition, LTPP-TSR awards granted in fiscal year 2026 are no longer subject to a one-year post-vest holding period.

Restricted Stock Units. Restricted stock units generally vest, with some exceptions, at a rate of 25 percent per year over a period of four years from the date of grant. All restricted stock units granted to our executives through fiscal year 2025 are subject to a one-year post-vest holding period. Effective in fiscal year 2026, all restricted stock units granted to our executives are no longer subject to a one-year post-vest holding period.

Stock Options. Stock options granted under the 2018 Stock Plan may be either "incentive stock options", as defined in Section 422 of the Internal Revenue Code, or non-statutory. Options generally vest at a rate of 25 percent per year over a period of four years from the date of grant with a maximum contractual term of ten years. The exercise price for stock options is generally not less than 100 percent of the fair market value of our common stock on the date the stock award is granted. We issue new shares of common stock when previously granted employee stock options are exercised. Effective in fiscal year 2026, we have discontinued granting employee stock options.

The impact on our results for share-based compensation was as follows:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Cost of products and services			$	13					$	13					$	35					$	35
Research and development			3						3						12						11
Selling, general and administrative			15						16						59						57
Total share-based compensation expense			$	31					$	32					$	106					$	103

At July 31, 2026 and October 31, 2025, there was no share-based compensation capitalized within inventory.

The following assumptions were used to estimate the fair value of awards granted.

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
Stock Option Plans:
Weighted average risk-free interest rate			—						4.1%						—						4.1%
Dividend yield			—						0.9%						—						0.7%
Weighted average volatility			—						30%						—						29%
Expected life			—						5.5 years						—						5.5 years
LTPP:
Volatility of Agilent shares			29%						30%						29%						30%
Volatility of selected peer-company shares			17%-59%						16%-62%						17%-59%						16%-62%
Pair-wise correlation with selected peers			24%						29%						24%						29%
Post-vest holding restriction discount for all executive awards(1)			6.5%						6.7%						6.5%						6.7%

---

(1) For the three and nine months ended July 31, 2026, post-vest holding restriction discount assumption relates to LTPP awards granted to our senior management employees before November 1, 2025.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Valuation Assumptions. The fair value of share-based awards for our employee stock option awards was estimated using the Black-Scholes option pricing model. Shares granted under the LTPP-TSR were valued using a Monte Carlo simulation model. The Monte Carlo simulation fair value model requires the use of highly subjective and complex assumptions, including the price volatility of the underlying stock. For the volatility of our LTPP-TSR grants, we used our own historical stock price volatility.

The ESPP allows eligible employees to purchase shares of our common stock at 85 percent of the price at purchase and uses the purchase date to establish the fair market value.

We use historical volatility to estimate the expected stock price volatility assumption for employee stock option awards. In reaching the conclusion, we have considered many factors including the extent to which our options are currently traded and our ability to find traded options in the current market with similar terms and prices to the options we are valuing. In estimating the expected life of our options granted, we considered the historical option exercise behavior of our executives, which we believe is representative of future behavior.

The estimated fair value of restricted stock units and LTPP-EPS awards is determined based on the market price of our common stock on the date of grant adjusted for expected dividend yield. The compensation cost for LTPP-EPS reflects the cost of awards that are probable to vest at the end of the performance period.

All LTPP awards granted to our senior management employees through fiscal year 2025 have a one-year post-vest holding restriction. The estimated discount associated with post-vest holding restrictions is calculated using the Finnerty model. The model calculates the potential lost value if the employees were able to sell the shares during the lack of marketability period instead of being required to hold the shares. The model used the same historical stock price volatility and dividend yield assumption used for the Monte Carlo simulation model and an expected dividend yield to compute the discount.

6. INCOME TAXES

For the three and nine months ended July 31, 2026, our income tax expense was $82 million with an effective tax rate of 18.5 percent and $210 million with an effective tax rate of 17.3 percent, respectively. For the three and nine months ended July 31, 2026, there were no significant discrete items.

For the three and nine months ended July 31, 2025, our income tax expense was $30 million with an effective tax rate of 8.2 percent and $124 million with an effective tax rate of 12.5 percent, respectively. For the three and nine months ended July 31, 2025, our effective tax rate and the resulting provision for income taxes were impacted by the tax benefit of $28 million related to the release of tax reserves due to a remeasurement of the liability.

In the U.S., tax years remain open back to the year 2022 for federal income tax purposes and 2021 for significant states. In other major jurisdictions where we conduct business, the tax years generally remain open back to the year 2016.

With these jurisdictions and the U.S., it is reasonably possible that some tax audits may be completed over the next twelve months. However, management cannot provide a reasonably reliable estimate of the timing of any other future tax payments or change in unrecognized tax benefits, if any.

The Organization for Economic Co-operation and Development ("OECD") has introduced rules to establish a global minimum tax rate of 15 percent, commonly referred to as the Pillar Two rules. We have considered the impact of currently enacted Pillar Two rules, and our income taxes have increased due to top-up taxes. Additionally, the United States enacted the One Big Beautiful Bill Act ("OBBBA") on July 4, 2025, including adjustments to effective tax rates on certain types of income and an elective deduction for domestic Research and Development (R&D), which are applicable to Agilent in fiscal years 2026 and 2027. The OBBBA did not have a material impact on our effective tax rate or cash flow for the three and nine months ended July 31, 2026.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

7. NET INCOME PER SHARE

The following is a reconciliation of the numerator and denominator of the basic and diluted net income per share computations for the periods presented below:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Numerator:
Net income			$	362					$	336					$	1,006					$	869
Denominator:
Basic weighted-average shares			282						284						283						285
Potential common shares— stock options and other employee stock plans			1						1						—						—
Diluted weighted-average shares			283						285						283						285

The dilutive effect of share-based awards is reflected in diluted net income per share by application of the treasury stock method, which includes consideration of unamortized share-based compensation expense and the dilutive effect of in-the-money options and non-vested restricted stock units. Under the treasury stock method, the amount the employee must pay for exercising stock options and unamortized share-based compensation expense collectively are assumed proceeds to be used to repurchase hypothetical shares. An increase in the fair market value of the company's common stock can result in a greater dilutive effect from potentially dilutive awards.

We exclude stock options with exercise prices greater than the average market price of our common stock from the calculation of diluted earnings per share because their effect would be anti-dilutive. In addition, we exclude from the calculation of diluted earnings per share stock options, ESPP, LTPP and restricted stock awards whose combined exercise price and unamortized fair value were greater than the average market price of our common stock because their effect would also be anti-dilutive.

For the three and nine months ended July 31, 2026, we excluded approximately 0.72 million and 0.83 million potential common shares, respectively, from the calculation of diluted earnings per share because their effect would be anti-dilutive. For the three and nine months ended July 31, 2025, potential common shares excluded from the calculation of diluted earnings per share were not material.

8. INVENTORY

Inventory as of July 31, 2026 and October 31, 2025 consisted of the following:

			July 31, 2026						October 31, 2025
			(in millions)
Finished goods			$	581					$	547
Purchased parts and fabricated assemblies			536						478
Inventory			$	1,117					$	1,025

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

9. GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents goodwill balances and the movements for each of our reportable segments during the nine months ended July 31, 2026:

			Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total
			(in millions)
Goodwill as of October 31, 2025			$	2,996					$	1,168					$	309					$	4,473
Foreign currency translation impact			—						3						5						8
Goodwill arising from acquisitions			549						—						—						549
Goodwill as of July 31, 2026			$	3,545					$	1,171					$	314					$	5,030

The component parts of other intangible assets as of October 31, 2025 and July 31, 2026 are shown in the table below:

			Other Intangible Assets
			Gross Carrying Amount						Accumulated Amortization						Net Book Value
			(in millions)
As of October 31, 2025
Purchased technology			$	1,484					$	1,235					$	249
Trademark/Trade name			199						181						18
Customer relationships			289						129						160
Backlog			9						2						7
Third-party technology and licenses			34						23						11
Total amortizable intangible assets			$	2,015					$	1,570					$	445
As of July 31, 2026
Purchased technology			$	1,633					$	1,269					$	364
Trademark/Trade name			201						185						16
Customer relationships			660						148						512
Backlog			9						3						6
Third-party technology and licenses			35						27						8
Total amortizable intangible assets			$	2,538					$	1,632					$	906

During the nine months ended July 31, 2026, we recorded additions of $549 million to goodwill and $520 million to other intangible assets in our Life Sciences and Diagnostics Markets segment related to our acquisition of Biocare. During the nine months ended July 31, 2026, there was no change in net book value of other intangible assets due to the impact of foreign currency translation.

In general, for U.S. federal tax purposes, goodwill from asset purchases is amortizable; however, any goodwill created as part of a stock acquisition is not deductible.

Each quarter we review the events and circumstances to determine if impairment of indefinite-lived intangible assets and goodwill is indicated. During the three and nine months ended July 31, 2026 and 2025, we did not identify any triggering events or circumstances which would indicate an impairment of goodwill or indefinite-lived intangible assets.

For the three and nine months ended July 31, 2026, amortization expense of intangible assets was $21 million and $59 million, respectively. For the three and nine months ended July 31, 2025, amortization expense of intangible assets was $26 million and $81 million, respectively.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Future amortization expense related to existing finite-lived purchased intangible assets for the remainder of fiscal year 2026 and for each of the next five fiscal years and thereafter is estimated below:

Estimated future amortization expense:
			(in millions)
Remainder of 2026			$	27
2027			$	108
2028			$	101
2029			$	97
2030			$	87
2031			$	81
Thereafter			$	405

10. FAIR VALUE MEASUREMENTS

The authoritative guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market and assumptions that market participants would use when pricing the asset or liability.

Fair Value Hierarchy

The guidance establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into three levels. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There are three levels of inputs that may be used to measure fair value:

Level 1- applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2- applies to assets or liabilities for which there are inputs other than quoted prices included within level 1 that are observable, either directly or indirectly, for the asset or liability such as: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in less active markets; or other inputs that can be derived principally from, or corroborated by, observable market data.

Level 3- applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis as of July 31, 2026 were as follows:

									Fair Value Measurement at July 31, 2026 Using
			July 31, 2026						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(in millions)
Assets:
Short-term
Cash equivalents (money market funds)			$	1,089					$	1,089					$	—					$	—
Derivative instruments (foreign exchange contracts)			9						—						9						—
Long-term
Trading securities			41						41						—						—
Other investments			40						—						40						—
Total assets measured at fair value			$	1,179					$	1,130					$	49					$	—
Liabilities:
Short-term
Derivative instruments (foreign exchange contracts)			$	9					$	—					$	9					$	—
Long-term
Deferred compensation liability			41						—						41						—
Total liabilities measured at fair value			$	50					$	—					$	50					$	—

Financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2025 were as follows:

									Fair Value Measurement at October 31, 2025 Using
			October 31, 2025						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(in millions)
Assets:
Short-term
Cash equivalents (money market funds)			$	1,614					$	1,614					$	—					$	—
Derivative instruments (foreign exchange contracts)			14						—						14						—
Long-term
Trading securities			41						41						—						—
Other investments			37						—						37						—
Total assets measured at fair value			$	1,706					$	1,655					$	51					$	—
Liabilities:
Short-term
Derivative instruments (foreign exchange contracts)			$	10					$	—					$	10					$	—
Long-term
Deferred compensation liability			41						—						41						—
Total liabilities measured at fair value			$	51					$	—					$	51					$	—

Our money market funds and trading securities are generally valued using quoted market prices and therefore are classified within level 1 of the fair value hierarchy. Our derivative financial instruments are classified within level 2, as there is not an active market for each hedge contract, but the inputs used to calculate the value of the instruments are tied to active markets. Our deferred compensation liability is classified as level 2 because, although the values are not directly based on quoted market prices, the inputs used in the calculations are observable.

Other investments represent shares we own in a special fund that targets underlying investments of approximately 40 percent in debt securities and 60 percent in equity securities. These shares have been classified as level 2 because, although the

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

shares of the fund are not traded on any active stock exchange, each of the individual underlying securities are or can be derived from similar securities traded on an active market and hence we have a readily determinable value for the underlying securities, from which we are able to determine the fair market value for the special fund itself.

Trading securities, which are comprised of mutual funds, bonds and other similar instruments, other investments and deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized currently in net income. Certain derivative instruments are reported at fair value, with unrealized gains and losses, net of tax, included in accumulated other comprehensive income (loss) within stockholders' equity. Realized gains and losses from the sale of these instruments are recorded in net income.

Gains and losses reflected in other income (expense), net for our equity investments with readily determinable fair value ("RDFV") and equity investments without RDFV are summarized below:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Net gain (loss) recognized during the period on equity securities			$	(3)					$	(1)					$	(2)					$	(28)
Less: Net gain (loss) on equity securities sold during the period			$	—					$	—					$	—					$	—
Unrealized gain (loss) on equity securities			$	(3)					$	(1)					$	(2)					$	(28)

Impairment of Investments. There were no impairments of investments for the three and nine months ended July 31, 2026. There were no impairments of investments for the three months ended July 31, 2025. During the nine months ended July 31, 2025, we recorded impairments of investments of $15 million.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

For the three and nine months ended July 31, 2026 and 2025, there were no impairments of long-lived assets held for use or held for sale.

Non-Marketable Equity Securities

For the three months ended July 31, 2026, the unrealized gain (loss) on our non-marketable equity securities without readily determinable fair values had no upward adjustments, $5 million of downward adjustments and no impairments which were included in net income as adjustments to the carrying value.

For the nine months ended July 31, 2026, the unrealized gain (loss) on our non-marketable equity securities without readily determinable fair values had no upward adjustments, $6 million of downward adjustments and no impairments which were included in net income as adjustments to the carrying value.

As of July 31, 2026, the cumulative unrealized net gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of $42 million upward adjustments, $77 million downward adjustments and $26 million of impairments. As of July 31, 2026, the carrying amount of our non-marketable equity securities without readily determinable fair value was $49 million.

For the three months ended July 31, 2025, the unrealized gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of no upward adjustments, $2 million of downward adjustments and no impairments which were included in net income as adjustments to the carrying value.

For the nine months ended July 31, 2025, the unrealized gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of no upward adjustments, $29 million of downward adjustments and $15 million impairments which were included in net income as adjustments to the carrying value.

As of July 31, 2025, the cumulative unrealized net gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of $40 million upward adjustments, $59 million downward adjustments and $26 million impairments. As of July 31, 2025, the carrying amount of our non-marketable equity securities without readily determinable fair value was $59 million.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

11. DERIVATIVES

We are exposed to foreign currency exchange rate fluctuations and interest rate changes in the normal course of our business. As part of our risk management strategy, we use derivative instruments, primarily forward contracts to hedge economic and/or accounting exposures resulting from changes in foreign currency exchange rates.

Cash Flow Hedges

We enter into foreign exchange contracts to hedge our forecasted operational cash flow exposures resulting from changes in foreign currency exchange rates. These foreign exchange contracts, carried at fair value, have maturities between one and twelve months. These derivative instruments are designated and qualify as cash flow hedges under the criteria prescribed in the authoritative guidance and are assessed for effectiveness against the underlying exposure every reporting period. For open contracts as of July 31, 2026, changes in the time value of the foreign exchange contract are excluded from the assessment of hedge effectiveness and are recognized in cost of revenue over the life of the foreign exchange contract. The changes in fair value of the effective portion of the derivative instrument are recognized in accumulated other comprehensive income (loss). Amounts associated with cash flow hedges are reclassified to cost of revenue in the condensed consolidated statement of operations when the forecasted transaction occurs. If it becomes probable that the forecasted transaction will not occur, the hedge relationship will be de-designated and amounts accumulated in other comprehensive income (loss) will be reclassified to other income (expense), net in the current period. Changes in the fair value of the ineffective portion of derivative instruments are recognized in other income (expense), net in the condensed consolidated statement of operations in the current period. We record the premium paid (time value) of an option on the date of purchase as an asset. For options designated as cash flow hedges, changes in the time value are excluded from the assessment of hedge effectiveness and are recognized in cost of revenue over the life of the option contract. For the three and nine months ended July 31, 2026 and 2025, there were no ineffectiveness or gains or losses recognized in other income (expense), net due to de-designation of cash flow hedge contracts.

In February 2016, Agilent executed three forward-starting pay fixed/receive variable interest rate swaps for the notional amount of $300 million in connection with future interest payments to be made on our 2026 senior notes issued on September 15, 2016. These derivative instruments were designated and qualified as cash flow hedges under the criteria prescribed in the authoritative guidance. The swap arrangements were terminated on September 15, 2016 with a payment of $10 million, and we recognized this as a deferred loss in accumulated other comprehensive income (loss) which is being amortized to interest expense over the life of the 2026 senior notes. As of July 31, 2026, the remaining loss to be amortized related to the interest rate swap agreements is not significant.

In August 2019, Agilent executed treasury lock agreements for $250 million in connection with future interest payments to be made on our 2029 senior notes issued on September 16, 2019. We designated the treasury lock as a cash flow hedge. The treasury lock contracts were terminated on September 6, 2019, and we recognized a deferred loss of $6 million in accumulated other comprehensive income (loss) which is being amortized to interest expense over the life of the 2029 senior notes. The remaining loss to be amortized related to the treasury lock agreements at July 31, 2026 was $2 million.

Net Investment Hedges

We enter into foreign exchange contracts to hedge net investments in foreign operations to mitigate the risk of adverse movements in exchange rates. These foreign exchange contracts are carried at fair value and are designated and qualify as net investment hedges under the criteria prescribed in the authoritative guidance. Changes in fair value of the effective portion of the derivative instrument are recognized in accumulated other comprehensive income (loss) - translation adjustment and are assessed for effectiveness against the underlying exposure every reporting period. For open contracts as of July 31, 2026, changes in the time value of the foreign exchange contract are excluded from the assessment of hedge effectiveness and are recognized in other income (expense) over the life of the contract. If our net investment changes during the year, the hedge relationship will be assessed and de-designated if the hedge notional amount is outside of prescribed tolerance with a gain/loss reclassified from other comprehensive income (loss) to other income (expense) in the current period. For the three and nine months ended July 31, 2026 and 2025, there were no ineffectiveness or gains or losses recognized in other income (expense) due to de-designation of the net investment hedge contracts.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Other Hedges

Additionally, we enter into foreign exchange contracts to hedge monetary assets and liabilities that are denominated in currencies other than the functional currency of our subsidiaries. These foreign exchange contracts are carried at fair value and do not qualify for hedge accounting treatment and are not designated as hedging instruments. Changes in value of the derivative instruments are recognized in other income (expense), net in the condensed consolidated statement of operations, in the current period, along with the offsetting foreign currency gain or loss on the underlying assets or liabilities.

Our use of derivative instruments exposes us to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. We do, however, seek to mitigate such risks by limiting our counterparties to major financial institutions which are selected based on their credit ratings and other factors. We have established policies and procedures for mitigating credit risk that include establishing counterparty credit limits, monitoring credit exposures, and continually assessing the creditworthiness of counterparties.

A number of our derivative agreements contain threshold limits to the net liability position with counterparties and are dependent on our corporate credit rating determined by the major credit rating agencies. The counterparties to the derivative instruments may request collateralization, in accordance with derivative agreements, on derivative instruments in net liability positions.

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position as of July 31, 2026, was approximately $5 million. The credit-risk-related contingent features underlying these agreements had not been triggered as of July 31, 2026.

The number of open foreign exchange forward contracts and aggregated notional amounts by designation as of July 31, 2026 were as follows:

						Number of Open Forward Contracts						Aggregate Notional Amount USD
									Buy/(Sell)
												($ in millions)
Derivatives designated as hedging instruments:
Cash Flow Hedges
Foreign exchange forward contracts						399						$	(537)
Net Investment Hedges
Foreign exchange forward contracts						5						$	(155)
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts						191						$	(140)

Derivative instruments are subject to master netting arrangements and are disclosed gross in the balance sheets in accordance with the authoritative guidance.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

The gross fair values and balance sheet location of derivative instruments held in the condensed consolidated balance sheets as of July 31, 2026, and October 31, 2025, were as follows:

Fair Values of Derivative Instruments
Asset Derivatives																		Liability Derivatives
						Fair Value																		Fair Value
Balance Sheet Location						July 31, 2026						October 31, 2025						Balance Sheet Location						July 31, 2026						October 31, 2025
(in millions)
Derivatives designated as hedging instruments:
Cash flow hedges
Foreign exchange contracts
Other current assets						$	5					$	9					Other accrued liabilities						$	6					$	3
Net investment hedges
Foreign exchange contracts
Other current assets						$	1					$	—					Other accrued liabilities						$	—					$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts
Other current assets						$	3					$	5					Other accrued liabilities						$	3					$	7
Total derivatives						$	9					$	14											$	9					$	10

The effects of derivative instruments for foreign exchange contracts designated as hedging instruments and not designated as hedging instruments in our condensed consolidated statement of operations were as follows:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Derivatives designated as hedging instruments:
Cash Flow Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss)			$	(1)					$	3					$	(5)					$	(1)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into cost of revenue			$	1					$	(7)					$	—					$	(1)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense			$	—					$	—					$	(1)					$	(1)
Gain (loss) on time value of forward contracts recorded in cost of revenue			$	2					$	2					$	6					$	5
Net Investment Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss) - translation adjustment			$	—					$	—					$	—					$	(1)
Gain (loss) on time value of forward contracts recorded in other income (expense), net			$	1					$	—					1						—
Derivatives not designated as hedging instruments:
Gain (loss) recognized in other income (expense), net			$	(3)					$	—					$	(5)					$	9

At July 31, 2026, the amount of existing net gain that is expected to be reclassified from accumulated other comprehensive income (loss) is $12 million. Within the next twelve months it is estimated that $3 million of loss included within the net amount of accumulated other comprehensive income (loss) will be reclassified to cost of revenue in respect of cash flow hedges.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

12. RETIREMENT PLANS AND POSTRETIREMENT PENSION PLANS

Components of net periodic benefit cost (income). For the three and nine months ended July 31, 2026 and 2025, our net pension and postretirement benefit cost (income) were comprised of the following:

			Three Months Ended July 31,
			U.S. Defined Benefit Plans												Non-U.S. Defined Benefit Plans												U.S. Postretirement Benefit Plans
			2026						2025						2026						2025						2026						2025
			(in millions)
Service cost - benefits earned during the period			$	—					$	—					$	6					$	6					$	—					$	—
Interest cost on benefit obligation			5						5						5						6						1						1
Expected return on plan assets			(7)						(6)						(12)						(12)						(1)						(1)
Amortization of net actuarial (gain) loss			—						—						(5)						(7)						—						—
Amortization of prior service benefit			—						—						—						—						—						(1)
Total net periodic benefit cost (income)			$	(2)					$	(1)					$	(6)					$	(7)					$	—					$	(1)

			Nine Months Ended July 31,
			U.S. Defined Benefit Plans												Non-U.S. Defined Benefit Plans												U.S. Postretirement Benefit Plans
			2026						2025						2026						2025						2026						2025
			(in millions)
Service cost—benefits earned during the period			$	—					$	—					$	14					$	13					$	—					$	—
Interest cost on benefit obligation			14						15						17						17						3						3
Expected return on plan assets			(19)						(18)						(37)						(33)						(4)						(4)
Amortization of net actuarial (gain) loss			—						—						(19)						(19)						(1)						(1)
Amortization of prior service benefit			—						—						—						—						—						(1)
Total net periodic benefit cost (income)			$	(5)					$	(3)					$	(25)					$	(22)					$	(2)					$	(3)
Settlement (gain) loss			$	—					$	—					$	—					$	14					$	—					$	—

The service cost component is recorded in cost of revenue and operating expenses in the condensed consolidated statement of operations. All other cost components are recorded in other income (expense), net in the condensed consolidated statement of operations.

During the nine months ended July 31, 2025, we transferred all the assets and obligations of our Netherlands defined benefit plan to an unaffiliated insurance company under a buy-out contract. The settlement resulted in a net loss of $14 million, which is included in other income (expense), net in the condensed consolidated statement of operations. The settlement loss includes the recognition of previously unrecognized actuarial losses that were included in accumulated other comprehensive income.

Employer contributions and expected future employer contributions for the remainder of the year were as follows:

			Three Months Ended												Nine Months Ended												Employer Contributions
			July 31,												July 31,												For Remainder of Year
			2026						2025						2026						2025									2026
			(in millions)
U.S. defined benefit plans			$	—					$	—					$	—					$	—								$	—
Non-U.S. defined benefit plans			$	8					$	9					$	18					$	18								$	4

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

13. WARRANTIES AND CONTINGENCIES

Warranties

We accrue for standard warranty costs based on historical trends in actual warranty charges over the past 12 months. The accrual is reviewed regularly and periodically adjusted to reflect changes in warranty cost over the period. The standard warranty accrual balances are held in other accrued and other long-term liabilities on our condensed consolidated balance sheets. Our standard warranty terms typically extend to one year from the date of delivery, depending on the product.

A summary of the standard warranty accrual activity is shown in the table below:

			Nine Months Ended
			July 31,
			2026						2025
			(in millions)
Standard warranty accrual, beginning balance			$	28					$	30
Accruals for warranties including change in estimates			46						37
Settlements made during the period			(43)						(39)
Standard warranty accrual, ending balance			$	31					$	28
Accruals for warranties due within one year			$	31					$	28

Bank Guarantees

Guarantees consist primarily of outstanding standby letters of credit and bank guarantees and were approximately $41 million and $39 million as of July 31, 2026 and October 31, 2025, respectively. A standby letter of credit is a guarantee of payment issued by a bank on behalf of us that is used as payment of last resort should we fail to fulfill a contractual commitment with a third party. A bank guarantee is a promise from a bank or other lending institution that if we default on a loan, the bank will cover the loss.

Contingencies

We are involved in lawsuits, claims, investigations and proceedings, including, but not limited to, intellectual property, commercial, real estate, environmental and employment matters, which arise in the ordinary course of business. We regularly evaluate the status of such lawsuits, claims, investigations and proceedings to assess whether a loss is probable and whether there is a reasonable estimate of such loss to determine if an accrual is appropriate. There are no such matters pending that we currently believe are probable and where a loss is reasonably possible of having a material impact on our business, condensed consolidated financial condition, results of operations or cash flows.

14. RESTRUCTURING AND OTHER RELATED COSTS

Summary of Restructuring Plans. In fiscal years 2026 and 2025, we announced two separate restructuring plans designed to optimize our management structure to better serve our customers. These actions impact all three of our business segments. The costs associated with these restructuring plans were not allocated to our business segments' results; however, each business segment will benefit from the future cost savings from these actions. When completed, the restructuring programs are expected to result in the reduction in annual cost of revenues and operating expenses over the three business segments.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

A summary of our aggregate liability relating to the fiscal year 2026 and 2025 restructuring plans and the total restructuring expense since inception of each plan are shown in the table below:

						Workforce Reduction Total
			(in millions)
Balance at October 31, 2025						$	18
Income statement expense						20
Non-cash settlement (accelerated share-based compensation expense)						(3)
Cash payments						(19)
Balance at January 31, 2026						$	16
Income statement expense						8
Non-cash settlement (accelerated share-based compensation expense)						(3)
Cash payments						(16)
Balance at April 30, 2026						$	5
Income statement expense						15
Non-cash settlement (accelerated share-based compensation expense)						(1)
Cash payments						(6)
Balance at July 31, 2026						$	13
Restructuring expense since inception of plan:
Fiscal Year 2026 Plan						$	15
Fiscal Year 2025 Plan						109
Total restructuring expense since inception of all plans						$	124

The aggregate restructuring liability of $13 million at July 31, 2026, is recorded in other accrued liabilities on the condensed consolidated balance sheet and reflects estimated future cash outlays.

A summary of the charges in the condensed consolidated statement of operations resulting from restructuring activity is shown below:

						Three Months Ended												Nine Months Ended
						July 31,												July 31,
						2026						2025						2026						2025
						(in millions)
Cost of products and services						$	1					$	7					$	9					$	22
Research and development						3						—						3						3
Selling, general and administrative						11						10						31						49
Total restructuring expense						$	15					$	17					$	43					$	74

Fiscal Year 2026 Plan ("FY26 Plan")

In the third quarter of fiscal year 2026, we implemented a new restructuring plan designed to optimize our management structure to better serve our customers. The expenses associated with this workforce reduction include severance and other personnel-related costs. We expect to substantially complete these restructuring activities by the first quarter of fiscal year 2027.

In connection with the FY26 Plan, we have recorded approximately $15 million in restructuring and other related costs in both the three and nine months ended July 31, 2026.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

A summary of the FY26 Plan activity is shown in the table below:

						Workforce Reduction Total
			(in millions)
Balance at April 30, 2026						$	—
Income statement expense						15
Non-cash settlement (accelerated share-based compensation expense)						(1)
Cash payments						(5)
Balance at July 31, 2026						$	9
Total restructuring expense since inception of FY26 Plan						$	15

Fiscal Year 2025 Plan ("FY25 Plan")

In the second quarter of fiscal year 2025, we announced a restructuring plan designed to optimize our management structure to better serve our customers. The expense associated with this workforce reduction includes severance and other personnel-related costs. We expect to substantially complete these restructuring activities by the end of fiscal year 2026.

In connection with the FY25 Plan, we have recorded approximately zero and $28 million, respectively, in restructuring and other related costs in the three and nine months ended July 31, 2026.

A summary of the FY25 Plan activity is shown in the table below:

						Workforce Reduction Total
			(in millions)
Balance at October 31, 2025						$	18
Income statement expense						20
Non-cash settlement (accelerated share-based compensation expense)						(3)
Cash payments						(19)
Balance at January 31, 2026						16
Income statement expense						8
Non-cash settlement (accelerated share-based compensation expense)						(3)
Cash payments						(16)
Balance at April 30, 2026						5
Cash payments						(1)
Balance at July 31, 2026						$	4
Total restructuring expense since inception of FY25 Plan						$	109

15. SHORT-TERM DEBT

Credit Facilities

On June 7, 2023, we entered into a credit agreement with a group of financial institutions which provides for a $1.5 billion five-year unsecured credit facility that will expire on June 7, 2028 and an incremental revolving credit facility in an aggregate amount of up to $750 million. During the nine months ended July 31, 2026, we made no borrowings or repayments under these credit facilities. As of both July 31, 2026 and October 31, 2025, we had no borrowings outstanding under either the credit facility or the incremental revolving credit facility.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

On June 2, 2023, we entered into an uncommitted money market line credit agreement with Societe Generale (the "Uncommitted Money Market Line Credit Agreement") which provides for an aggregate borrowing capacity of $300 million. The credit facility is an uncommitted short-term cash advance facility where each request must be at least $1 million. The interest rate is set by the lender at the time of the borrowing and is fixed for the duration of the advance. During the nine months ended July 31, 2026, we made no borrowings or repayments under this credit facility. As of both July 31, 2026 and October 31, 2025, we had no borrowings outstanding under the credit facility.

We were in compliance with the covenants for the credit facilities during the nine months ended July 31, 2026.

Commercial Paper

Under our U.S. commercial paper program, the company may issue and sell unsecured, short-term promissory notes in the aggregate principal amount not to exceed $1.5 billion with up to 397-day maturities. At any point in time, the company intends to maintain available commitments under its revolving credit facility in an amount at least equal to the amount of the commercial paper notes outstanding. Amounts available under the program may be borrowed, repaid and re-borrowed from time to time. The proceeds from issuances under the program may be used for general corporate purposes. During the nine months ended July 31, 2026, we borrowed and repaid $1.06 billion under our commercial paper program. As of July 31, 2026 and October 31, 2025, we had no borrowings outstanding under our U.S. commercial paper program.

2026 Senior Notes

In 2025, we reclassified to short-term debt the aggregate principal amount of $300 million related to our 2026 senior notes with a maturity date of September 22, 2026. The notes bear interest at a fixed rate of 3.05 percent per annum.

Other Loans

We have two interest-free loans from the Strategic Innovation Fund ("SIF"). The loans are repayable in quarterly and yearly installments through 2040 at a weighted average imputed interest rate of 4.7 percent. In addition, we have two interest-free loans with the Atlantic Canada Opportunities Agency ("ACOA"). The loans are repayable in monthly installments through 2029 at a weighted average imputed interest rate of 4.5 percent. As of both July 31, 2026 and October 31, 2025, the current portion of these loans of $4 million was recorded in short-term debt.

16. LONG-TERM DEBT

Senior Notes

The following table summarizes our long-term senior notes:

			July 31, 2026						October 31, 2025
			Amortized Principal						Amortized Principal
			(in millions)
2027 Senior Notes			$	598					$	597
2029 Senior Notes			498						497
2030 Senior Notes			498						498
2031 Senior Notes			846						845
2032 Senior Notes			594						—
2034 Senior Notes			594						593
Total Senior Notes			$	3,628					$	3,030

2032 Senior Notes

On June 25, 2026, we issued $600 million in aggregate principal amount senior notes ("2032 senior notes"). The 2032 senior notes were issued at 99.968 percent of their principal amount. The 2032 senior notes will mature on January 15, 2032, and bear interest at a fixed rate of 4.90 percent per annum. The interest is payable semi-annually in arrears on January 15 and July 15 of each year and payments will commence on January 15, 2027.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

All outstanding notes listed above are unsecured and rank equally in right of payment with all of Agilent’s other senior unsecured indebtedness. Other than the issuance of our 2032 senior notes, there have been no other changes to the principal, maturity, interest rates and interest payment terms of the Agilent senior notes, detailed in the table above, in the nine months ended July 31, 2026, as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2025.

Other Loans

We have two interest-free loans from the Strategic Innovation Fund ("SIF"). The loans are repayable in quarterly and yearly installments through 2040 at a weighted average imputed interest rate of 4.7 percent. In addition, we have two interest-free loans with the Atlantic Canada Opportunities Agency ("ACOA"). The loans are repayable in monthly installments through 2029 at a weighted average imputed interest rate of 4.5 percent. During the nine months ended July 31, 2026 we repaid $4 million of these loans. As of July 31, 2026 and October 31, 2025, the non-current portion of these loans of $17 million and $20 million, respectively, was recorded in long-term debt.

17. STOCKHOLDERS' EQUITY

Stock Repurchase Programs

On January 9, 2023, we announced that our board of directors had approved a share repurchase program (the "2023 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2023 repurchase program authorized the purchase of up to $2.0 billion, excluding excise taxes, of our common stock at the company's discretion and had no fixed termination date. The 2023 repurchase program did not require the company to acquire a specific number of shares and could have been suspended, amended or discontinued at any time. The 2023 repurchase program commenced on March 1, 2023 and was completed as of September 2025. During the three and nine months ended July 31, 2025, we repurchased and retired 737,474 shares for $85 million, excluding applicable excise taxes and 2.734 million shares for $340 million, excluding applicable excise taxes, respectively, under this authorization.

On May 29, 2024, we announced that our board of directors had approved a share repurchase program (the "2024 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2024 repurchase program authorizes the purchase of up to $2.0 billion, excluding excise taxes, of our common stock at the company's discretion and has no fixed termination date. The 2024 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued at any time. The 2024 repurchase program became effective on August 1, 2024 and commenced in September 2025 upon the completion of our 2023 repurchase program. During the three and nine months ended July 31, 2026, we repurchased and retired 612,270 shares for $78 million, excluding excise taxes and 2.212 million shares for $295 million excluding excise taxes, respectively, under this authorization. As of July 31, 2026, we had remaining authorization to repurchase up to approximately $1,654 million of our common stock under the 2024 repurchase program.

Excise Taxes. We record the applicable excise taxes payable related to repurchases of our common stock as an incremental cost of the shares repurchased and a corresponding liability for the excise tax payable in other accrued liabilities on our condensed consolidated balance sheet. During the nine months ended July 31, 2026, we recorded the applicable excise taxes payable of approximately $2 million and paid excise taxes of approximately $3 million related to the shares repurchased in fiscal year 2025. During the nine months ended July 31, 2025, we recorded the applicable excise taxes payable of approximately $2 million and paid excise taxes of approximately $10 million related to the shares repurchased in fiscal year 2024.

Cash Dividends on Shares of Common Stock

During the three and nine months ended July 31, 2026, we paid cash dividends of $0.255 per common share or $72 million and $0.765 per common share or $216 million, respectively, on the company's common stock. During the three and nine months ended July 31, 2025, we paid cash dividends of $0.248 per common share or $71 million and $0.744 per common share or $212 million, respectively, on the company's common stock. The timing and amounts of any future dividends are subject to determination and approval by our board of directors.

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component and related tax effects were as follows:

																		Net defined benefit pension cost and postretirement plan costs
Three Months Ended July 31, 2026												Foreign currency translation						Prior service credits						Actuarial Losses						Unrealized gains (losses) on derivatives						Total
												(in millions)
As of April 30, 2026												$	(264)					$	120					$	(72)					$	14					$	(202)
Other comprehensive income (loss) before reclassifications												(24)						—						(2)						(1)						(27)
Amounts reclassified out of accumulated other comprehensive income (loss)												—						—						(5)						(1)						(6)
Tax (expense) benefit												—						—						2						—						2
Other comprehensive income (loss)												(24)						—						(5)						(2)						(31)
As of July 31, 2026												$	(288)					$	120					$	(77)					$	12					$	(233)
Nine Months Ended July 31, 2026
As of October 31, 2025												$	(297)					$	120					$	(64)					$	15					$	(226)
Other comprehensive income (loss) before reclassifications												9						—						2						(5)						6
Amounts reclassified out of accumulated other comprehensive income (loss)												—						—						(20)						1						(19)
Tax (expense) benefit												—						—						5						1						6
Other comprehensive income (loss)												9						—						(13)						(3)						(7)
As of July 31, 2026												$	(288)					$	120					$	(77)					$	12					$	(233)

Reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended July 31, 2026 and 2025 were as follows (in millions):

Details about accumulated other comprehensive income (loss) components						Amounts Reclassified from other comprehensive income (loss)																								Affected line item in statement of operations
						Three Months Ended												Nine Months Ended
						July 31,												July 31,
						2026						2025						2026						2025
Unrealized gain (loss) on derivatives						1						(7)						—						(1)						Cost of products
Unrealized gain (loss) on derivatives						—						—						(1)						(1)						Interest expense
						1						(7)						(1)						(2)						Total before income tax
						—						2						1						—						(Provision) benefit for income tax
						1						(5)						—						(2)						Total net of income tax
Net defined benefit pension cost and postretirement plan costs:
Actuarial net gain (loss)						5						7						20						13						Other income (expense), net
Prior service benefit						—						1						—						1						Other income (expense)
						5						8						20						14						Total before income tax
						(2)						(3)						(6)						(5)						(Provision) benefit for income tax
						3						5						14						9						Total net of income tax
Total reclassifications for the period						$	4					$	—					$	14					$	7

Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss).

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

Reclassifications out of accumulated other comprehensive income (loss) of actuarial net gain (loss) and prior service benefit in respect of retirement plans and postretirement pension plans are included in the computation of net periodic benefit cost (income) (see Note 12, "Retirement Plans and Postretirement Pension Plans" for additional information).

18. SEGMENT INFORMATION

Our President and Chief Executive Officer is the chief operating decision maker ("CODM"). The three operating segments were determined based primarily on how the CODM views and evaluates our operations. The CODM uses segment net revenue and income from operations to assess the performance of the segments by reviewing budget to actual variances on a monthly basis. The CODM also uses segment net revenue and income from operations when making decisions about allocating capital and personnel resources predominantly during the annual strategic planning process. The CODM does not evaluate the segments using asset or liability information.

Description of Segments. We are a global leader in life sciences, diagnostics and applied markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.

A description of our three reportable segments is as follows:

Our Life Sciences and Diagnostics Markets segment is comprised of seven areas of activity. We provide active pharmaceutical ingredients 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 liquid chromatography and liquid chromatography mass spectrometry businesses enable customers in the clinical and life sciences research areas to interrogate samples at the molecular and cellular level. Second, our electrophoresis and cell phenotyping business delivers end-to-end workflow solutions (including instruments, reagents, consumables, and software) for nucleic acid quality control and multiparametric cell analysis. These offerings support next-generation sequencing accuracy and enable live-cell imaging, metabolism analysis, and flow cytometry across clinical and life science research applications. Third, our cell imaging and metabolism business provides integrated instruments, reagents, software, and labware for automated imaging, metabolic analysis, plate reading, and dispensing, supporting applications across immunology, oncology, drug discovery, and translational research. Fourth, our Agilent Advanced Therapeutics business (formerly known as our specialty contract development and manufacturing organization ("CDMO") business) provides good manufacturing practice compliant services and manufacturing of synthesized oligonucleotides used as active pharmaceutical ingredients in nucleic acid-based drugs, alongside capabilities in microbial fermentation, bioreagents, highly potent active pharmaceutical ingredients, peptide purification and broader nucleic acid biomanufacturing. Fifth, our pathology solutions business delivers products for cancer diagnostics and anatomic pathology workflows, including immunohistochemistry, in situ hybridization, hematoxylin and eosin, and special staining. The portfolio also includes clinical flow cytometry reagents and bulk antibodies, as well as assay development services for in vitro diagnostics, biotechnology, and pharmaceutical customers. Sixth, we also collaborate with several 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. Finally, our genomics business provides reagents for next-generation sequencing and array workflows, along with solutions that enable clinical labs to identify disease-associated DNA variants and inform cancer therapy.

Our Agilent CrossLab segment provides an extensive services and consumables portfolio that spans the entire lab, in addition to software and laboratory automation solutions, which are designed to improve customer outcomes and represents a broad range of offerings designed to serve customer needs across end-markets and applications. Our 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. Custom services are tailored to meet the specific application needs of various industries and to keep instruments fully operational and compliant with the respective industry requirements. Our consumables portfolio is designed to improve customer outcomes. Most of the portfolio is vendor neutral, meaning we can serve and supply customers regardless of their instrument purchase choices. Solutions range from chemistries to supplies. Key product categories in consumables include gas chromatography and liquid chromatography columns, sample preparation products, custom chemistries, and a large selection of laboratory supplies. Software and informatics solutions include software for instrument control, data acquisition, data analysis, secure storage of results, and laboratory information and workflow management. This software facilitates the compliant use of instruments in pharmaceutical quality assurance and quality control environments. The OpenLab laboratory software suite is a scalable, open software platform that enables customers to capture, analyze, and share scientific data throughout the lab and across the enterprise. Laboratory automation offers automated sample preparation solutions, including liquid handling, plate management, consumables and scheduling

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

software. These solutions range from standalone automation platforms to integrated workflow solutions with seamless integration to our instrumentation.

Our Applied Markets segment provides application-focused solutions that include instruments and software that enable customers to identify, quantify and analyze the physical and biological properties of substances and products. Our gas chromatography and gas chromatography mass spectrometry businesses enable customers to perform a wide variety of testing including measuring volatile and semi-volatile contaminants to assess the safety of our foods, quality of water and consumer products while also enabling testing of fuels and purity of chemicals. Our inductively coupled plasma mass spectrometry, inductively coupled plasma optical emission spectrometry, atomic absorption and microwave plasma-atomic emission spectrometry instruments are vital for our customers to measure metals and elemental signatures in their samples and find uses in the food safety, environmental quality, chemicals manufacture, advanced materials, energy and forensics markets. Our molecular spectroscopy business including the raman, fluorescence and infrared spectroscopy instruments offer both in-field and in-lab testing solutions in a diverse variety of applications including airport security, explosives testing, narcotics, food quality and chemical characterization. Our vacuum business develops cutting edge products and technologies to test vacuum environments and find uses in a diverse variety of industries including semi-conductor, batteries, chemical manufacturing and advanced materials development. Finally, our remarketed instruments business refurbishes and resells certified pre-owned instruments to value-oriented customers who would like Agilent quality and performance at a budget conscious price.

The following tables reflect segment results under our management reporting system after excluding certain unallocated costs as noted in the reconciliations below:

			Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total
			(in millions)
Three Months Ended July 31, 2026:
Net Revenue			$	746					$	786					$	346					$	1,878
Segment Expenses (1)
Cost of products and services			332						338						148
Research and development			66						28						24
Selling, general and administrative			172						150						88
Reportable segment income from operations			$	176					$	270					$	86					$	532
Three Months Ended July 31, 2025:
Net Revenue			$	670					$	744					$	324					$	1,738
Segment Expenses (1)
Cost of products and services			332						334						150
Research and development			61						26						23
Selling, general and administrative			159						136						80
Reportable segment income from operations			$	118					$	248					$	71					$	437

			(1) Share-based compensation expense and depreciation expense included in segment expenses are shown below:
									Share-Based Compensation Expense												Depreciation Expense
									Three Months Ended July 31,												Three Months Ended July 31,
									2026						2025						2026						2025
									(in millions)												(in millions)
						Life Sciences and Diagnostics Markets			$	11					$	8					$	24					$	25
						Agilent CrossLab			$	12					$	9					$	14					$	14
						Applied Markets			$	5					$	4					$	6					$	6

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

			Life Sciences and Diagnostics Markets						Agilent CrossLab						Applied Markets						Total
			(in millions)
Nine Months Ended July 31, 2026:
Net Revenue			$	2,157					$	2,303					$	1,051					$	5,511
Segment Expenses (1)
Cost of products and services			1,005						1,016						457
Research and development			195						84						72
Selling, general and administrative			511						451						263
Reportable segment income from operations			$	446					$	752					$	259					$	1,457
Nine Months Ended July 31, 2025:
Net Revenue			$	1,971					$	2,153					$	963					$	5,087
Segment Expenses (1)
Cost of products and services			946						957						440
Research and development			183						79						69
Selling, general and administrative			478						417						240
Reportable segment income from operations			$	364					$	700					$	214					$	1,278

			(1) Share-based compensation expense and depreciation expense included in segment expenses are shown below:
									Share-Based Compensation Expense												Depreciation Expense
									Nine Months Ended July 31,												Nine Months Ended July 31,
									2026						2025						2026						2025
									(in millions)												(in millions)
						Life Sciences and Diagnostics Markets			$	36					$	32					$	76					$	72
						Agilent CrossLab			$	40					$	36					$	42					$	42
						Applied Markets			$	18					$	17					$	19					$	18

The following table reconciles reportable segments' income from operations to Agilent’s total enterprise income before taxes:

			Three Months Ended												Nine Months Ended
			July 31,												July 31,
			2026						2025						2026						2025
			(in millions)
Total reportable segment income from operations			$	532					$	437					$	1,457					$	1,278
Unallocated costs:
Amortization of intangible assets related to business combinations			(21)						(26)						(59)						(81)
Acquisition and integration costs			(7)						(3)						(22)						(15)
Transformational initiatives			(37)						(18)						(95)						(48)
Restructuring and other related costs			(15)						(17)						(43)						(74)
Other			(8)						(13)						(42)						(24)
Total unallocated costs			(88)						(77)						(261)						(242)
Income from operations			444						360						1,196						1,036
Interest income			15						16						43						45
Interest expense			(29)						(28)						(79)						(85)
Other income (expense), net			14						18						56						(3)
Income before taxes, as reported			$	444					$	366					$	1,216					$	993

AGILENT TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - (Continued)

A portion of the segments' expenses arises from shared services and infrastructure that we have historically provided to the segments in order to realize economies of scale and to efficiently use resources. These expenses, collectively called corporate charges, include finance, tax, treasury, legal, real estate, insurance services, workplace services, human resources, information technology services, corporate development and other corporate infrastructure expenses, costs of centralized research and development and joint sales and marketing costs. Charges are allocated to the segments, and the allocations have been determined on a basis that we consider to be a reasonable reflection of the utilization of services provided to or benefits received by the segments. In addition, we do not allocate certain costs to the operating margin for each segment because management does not include this information in its measurement of the performance of the operating segments. Unallocated costs consist of asset impairments, amortization of acquisition-related intangible assets, acquisition and integration costs, transformational initiatives expenses, restructuring and other related costs and certain other charges. Transformational initiatives include expenses associated with targeted cost reduction activities such as manufacturing transfers including costs to move manufacturing, site consolidations, legal entity and other business reorganizations, in-sourcing or outsourcing of activities. Included in this category are also expenses associated with the recent transformation and company programs to transform our product lifecycle management system and human resources and financial systems.