2014 Q1 Form 10-Q Financial Statement

#000001427214000175 Filed on April 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $3.811B $3.831B
YoY Change -0.52% -27.04%
Cost Of Revenue $968.0M $1.063B
YoY Change -8.94% -18.42%
Gross Profit $2.843B $2.768B
YoY Change 2.71% -29.89%
Gross Profit Margin 74.6% 72.25%
Selling, General & Admin $957.0M $994.0M
YoY Change -3.72% -0.8%
% of Gross Profit 33.66% 35.91%
Research & Development $946.0M $930.0M
YoY Change 1.72% 2.31%
% of Gross Profit 33.27% 33.6%
Depreciation & Amortization $137.0M $213.0M
YoY Change -35.68% 53.24%
% of Gross Profit 4.82% 7.7%
Operating Expenses $1.903B $1.924B
YoY Change -1.09% 0.68%
Operating Profit $940.0M $844.0M
YoY Change 11.37% -39.8%
Interest Expense $54.00M $50.00M
YoY Change 8.0% 19.05%
% of Operating Profit 5.74% 5.92%
Other Income/Expense, Net $208.0M $19.00M
YoY Change 994.74% -89.67%
Pretax Income $985.0M $674.0M
YoY Change 46.14% -66.75%
Income Tax $49.00M $51.00M
% Of Pretax Income 4.97% 7.57%
Net Earnings $937.0M $609.0M
YoY Change 53.86% -44.69%
Net Earnings / Revenue 24.59% 15.9%
Basic Earnings Per Share $0.57 $0.37
Diluted Earnings Per Share $0.56 $0.37
COMMON SHARES
Basic Shares Outstanding 1.652B shares 1.638B shares
Diluted Shares Outstanding 1.666B shares 1.655B shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.62B $5.775B
YoY Change 83.84% -32.96%
Cash & Equivalents $5.225B $1.355B
Short-Term Investments $5.392B $4.420B
Other Short-Term Assets $2.267B $2.780B
YoY Change -18.45% 46.01%
Inventory $1.655B $1.791B
Prepaid Expenses $538.0M $616.0M
Receivables $1.742B $1.798B
Other Receivables $1.291B $1.174B
Total Short-Term Assets $14.01B $10.08B
YoY Change 39.08% -14.36%
LONG-TERM ASSETS
Property, Plant & Equipment $4.485B $5.259B
YoY Change -14.72% 16.56%
Goodwill $7.046B $7.646B
YoY Change -7.85% 12.46%
Intangibles $2.208B $8.570B
YoY Change -74.24% 77.95%
Long-Term Investments $3.558B $3.242B
YoY Change 9.75% -9.57%
Other Assets $1.324B $975.0M
YoY Change 35.79% 18.47%
Total Long-Term Assets $19.41B $25.88B
YoY Change -25.01% 25.38%
TOTAL ASSETS
Total Short-Term Assets $14.01B $10.08B
Total Long-Term Assets $19.41B $25.88B
Total Assets $33.42B $35.96B
YoY Change -7.05% 10.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.502B $2.079B
YoY Change 20.35% -12.83%
Accrued Expenses $1.997B $2.376B
YoY Change -15.95% -7.4%
Deferred Revenue
YoY Change
Short-Term Debt $281.0M $1.372B
YoY Change -79.52% 846.21%
Long-Term Debt Due $281.0M $658.0M
YoY Change -57.29% 353.79%
Total Short-Term Liabilities $7.521B $8.414B
YoY Change -10.61% 16.68%
LONG-TERM LIABILITIES
Long-Term Debt $7.367B $6.522B
YoY Change 12.96% 23.76%
Other Long-Term Liabilities $616.0M $459.0M
YoY Change 34.2% -30.03%
Total Long-Term Liabilities $7.983B $6.981B
YoY Change 14.35% 17.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.521B $8.414B
Total Long-Term Liabilities $7.983B $6.981B
Total Liabilities $17.89B $22.26B
YoY Change -19.61% 37.72%
SHAREHOLDERS EQUITY
Retained Earnings $33.29B $32.76B
YoY Change 1.62% -2.48%
Common Stock $221.0M $221.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.22B $18.32B
YoY Change -5.99% 5.97%
Treasury Stock Shares 551.0M shares 565.0M shares
Shareholders Equity $15.47B $13.66B
YoY Change
Total Liabilities & Shareholders Equity $33.42B $35.96B
YoY Change -7.05% 10.95%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $937.0M $609.0M
YoY Change 53.86% -44.69%
Depreciation, Depletion And Amortization $137.0M $213.0M
YoY Change -35.68% 53.24%
Cash From Operating Activities $617.0M -$428.0M
YoY Change -244.16% -210.59%
INVESTING ACTIVITIES
Capital Expenditures $118.0M $115.0M
YoY Change 2.61% -6.5%
Acquisitions $21.00M
YoY Change
Other Investing Activities $21.00M -$3.000M
YoY Change -800.0% -75.0%
Cash From Investing Activities $2.212B $161.0M
YoY Change 1273.91% -105.32%
FINANCING ACTIVITIES
Cash Dividend Paid $605.0M $580.0M
YoY Change 4.31% 0.17%
Common Stock Issuance & Retirement, Net $297.0M
YoY Change -12.39%
Debt Paid & Issued, Net $676.0M
YoY Change
Cash From Financing Activities -$1.192B -$44.00M
YoY Change 2609.09% -94.74%
NET CHANGE
Cash From Operating Activities $617.0M -$428.0M
Cash From Investing Activities $2.212B $161.0M
Cash From Financing Activities -$1.192B -$44.00M
Net Change In Cash $1.637B -$311.0M
YoY Change -626.37% -91.05%
FREE CASH FLOW
Cash From Operating Activities $617.0M -$428.0M
Capital Expenditures $118.0M $115.0M
Free Cash Flow $499.0M -$543.0M
YoY Change -191.9% -305.68%

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CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1638000000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1652000000 shares
CY2014Q1 bmy Accrued Rebates And Returns
AccruedRebatesAndReturns
891000000 USD
CY2013Q4 bmy Accrued Rebates And Returns
AccruedRebatesAndReturns
889000000 USD
CY2013Q4 bmy Alliance Partner Receivables
AlliancePartnerReceivables
1122000000 USD
CY2014Q1 bmy Alliance Partner Receivables
AlliancePartnerReceivables
1095000000 USD
CY2013Q4 bmy Available For Sale Securities Gross Unrealized Gain1
AvailableForSaleSecuritiesGrossUnrealizedGain1
47000000 USD
CY2014Q1 bmy Available For Sale Securities Gross Unrealized Gain1
AvailableForSaleSecuritiesGrossUnrealizedGain1
47000000 USD
CY2014Q1 bmy Available For Sale Securities Gross Unrealized Losses
AvailableForSaleSecuritiesGrossUnrealizedLosses
6000000 USD
CY2013Q4 bmy Available For Sale Securities Gross Unrealized Losses
AvailableForSaleSecuritiesGrossUnrealizedLosses
13000000 USD
CY2014Q1 bmy Bmy Portion Of Proceeds Allocated To Deferred Income Undelivered Elements
Bmy_PortionOfProceedsAllocatedToDeferredIncomeUndeliveredElements
635000000 USD
CY2014Q1 bmy Cash Flow Hedges Period Of Reclassification To Earnings Years
CashFlowHedgesPeriodOfReclassificationToEarningsYears
2
CY2014Q1 bmy Contingentand Regulatory Milestone Payments
ContingentandRegulatoryMilestonePayments
550000000 USD
CY2014Q1 bmy Debt Conversion Capitalin Exceedof Par Valueof Stock
DebtConversionCapitalinExceedofParValueofStock
-16000000 USD
CY2013Q4 bmy Deferred Upfront And Milestone Payments
DeferredUpfrontAndMilestonePayments
970000000 USD
CY2014Q1 bmy Deferred Upfront And Milestone Payments
DeferredUpfrontAndMilestonePayments
908000000 USD
CY2014Q1 bmy Discontinued Cash Flow Hedges After Forecasted Date Days
DiscontinuedCashFlowHedgesAfterForecastedDateDays
60
CY2013Q4 bmy Disposal Group Including Discontinued Operation Current Portion Of Long Term Debt
DisposalGroupIncludingDiscontinuedOperationCurrentPortionOfLongTermDebt
27000000 USD
CY2013Q4 bmy Disposal Group Including Discontinued Operation Deferred Income Current
DisposalGroupIncludingDiscontinuedOperationDeferredIncomeCurrent
352000000 USD
CY2013Q4 bmy Disposal Group Including Discontinued Operation Deferred Income Noncurrent
DisposalGroupIncludingDiscontinuedOperationDeferredIncomeNoncurrent
3319000000 USD
CY2013Q1 bmy Employeestockcompensationplans Capitalin Excessof Par
EmployeestockcompensationplansCapitalinExcessofPar
-568000000 USD
CY2014Q1 bmy Employeestockcompensationplans Capitalin Excessof Par
EmployeestockcompensationplansCapitalinExcessofPar
-457000000 USD
CY2014 bmy Estimated Annual Development Agreement Costs
EstimatedAnnualDevelopmentAgreementCosts
227000000 USD
CY2013Q1 bmy Increase Decrease In Other Deferred Income
IncreaseDecreaseInOtherDeferredIncome
215000000 USD
CY2014Q1 bmy Increase Decrease In Other Deferred Income
IncreaseDecreaseInOtherDeferredIncome
327000000 USD
CY2014Q1 bmy Long Term Debt Interest Rate Swap Fair Value Adjustment To Principal Value
LongTermDebtInterestRateSwapFairValueAdjustmentToPrincipalValue
74000000 USD
CY2013Q4 bmy Long Term Debt Interest Rate Swap Fair Value Adjustment To Principal Value
LongTermDebtInterestRateSwapFairValueAdjustmentToPrincipalValue
37000000 USD
CY2014Q1 bmy Net Earnings Noncontrolling Interest
NetEarningsNoncontrollingInterest
-1000000 USD
CY2013Q1 bmy Net Earnings Noncontrolling Interest
NetEarningsNoncontrollingInterest
26000000 USD
CY2014Q1 bmy Notional Amount Of Nonderivative Instruments Designated As Net Investment Hedges1
NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges1
749000000 USD
CY2014Q1 bmy Notional Amount Of Nonderivative Instruments Designated As Net Investment Hedges1
NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges1
541000000 EUR
CY2014Q1 bmy Number Of Largest Pharmaceutical Wholesalers
NumberOfLargestPharmaceuticalWholesalers
3
CY2013Q4 bmy Other Deferred Income
OtherDeferredIncome
16000000 USD
CY2014Q1 bmy Other Deferred Income
OtherDeferredIncome
19000000 USD
CY2014Q1 bmy Other Income Received From Alliance Partners
OtherIncomeReceivedFromAlliancePartners
108000000 USD
CY2013Q1 bmy Other Income Received From Alliance Partners
OtherIncomeReceivedFromAlliancePartners
57000000 USD
CY2014Q1 bmy Other Other Income Expense
OtherOtherIncomeExpense
-50000000 USD
CY2013Q1 bmy Other Other Income Expense
OtherOtherIncomeExpense
-17000000 USD
CY2014Q1 bmy Pension Curtailments Settlements And Special Termination Benefits
PensionCurtailmentsSettlementsAndSpecialTerminationBenefits
-64000000 USD
CY2014Q1 bmy Percentage Of Aggregate Total Trade Receivables Due
PercentageOfAggregateTotalTradeReceivablesDue
0.36
CY2013Q4 bmy Percentage Of Aggregate Total Trade Receivables Due
PercentageOfAggregateTotalTradeReceivablesDue
0.40
CY2014Q1 bmy Percentage Of Sales Recognized
PercentageOfSalesRecognized
1.00
CY2014Q1 bmy Proceeds From Issuance Of Shares Under Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderShareBasedCompensationPlans
172000000 USD
CY2013Q1 bmy Proceeds From Issuance Of Shares Under Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderShareBasedCompensationPlans
270000000 USD
CY2014Q1 bmy Proceeds Termination Interest Rate Swap
ProceedsTerminationInterestRateSwap
-4000000 USD
CY2014Q1 bmy Property Plant And Equipment Manufacturing Facility Expected To Be Sold
PropertyPlantAndEquipmentManufacturingFacilityExpectedToBeSold
300000000 USD
CY2014Q1 bmy Receivables Sold On Nonrecourse Basis
ReceivablesSoldOnNonrecourseBasis
215000000 USD
CY2013Q1 bmy Receivables Sold On Nonrecourse Basis
ReceivablesSoldOnNonrecourseBasis
224000000 USD
CY2013Q1 bmy Restructuring Reserve Period Expense1
RestructuringReservePeriodExpense1
34000000 USD
CY2014Q1 bmy Restructuring Reserve Period Expense1
RestructuringReservePeriodExpense1
23000000 USD
CY2013Q4 bmy Total Debt
TotalDebt
8008000000 USD
CY2014Q1 bmy Total Debt
TotalDebt
7367000000 USD
CY2014Q1 bmy Total Earned Royalties
TotalEarnedRoyalties
59000000 USD
CY2014Q1 bmy Unamortized Basis Adjustment From Swap Terminations
UnamortizedBasisAdjustmentFromSwapTerminations
375000000 USD
CY2013Q4 bmy Unamortized Basis Adjustment From Swap Terminations
UnamortizedBasisAdjustmentFromSwapTerminations
442000000 USD
CY2014Q1 bmy Upfront Paymentto Alliance Partner
UpfrontPaymenttoAlliancePartner
175000000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000014272
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1657176162 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
BRISTOL MYERS SQUIBB CO
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0000014272-14-000175-index-headers.html Edgar Link pending
0000014272-14-000175-index.html Edgar Link pending
0000014272-14-000175.txt Edgar Link pending
0000014272-14-000175-xbrl.zip Edgar Link pending
bmy-20140331.xml Edgar Link completed
bmy-20140331.xsd Edgar Link pending
bmy-20140331x10q.htm Edgar Link pending
bmy-20140331_cal.xml Edgar Link unprocessable
bmy-20140331_def.xml Edgar Link unprocessable
bmy-20140331_lab.xml Edgar Link unprocessable
bmy-20140331_pre.xml Edgar Link unprocessable
bmyex31120140331.htm Edgar Link pending
bmyex312_20140331.htm Edgar Link pending
bmyex321_20140331.htm Edgar Link pending
bmyex322_20140331.htm Edgar Link pending
exhibit12ratioofearningsto.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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