$EW
Edwards Lifesciences Corp

2023 Q3 Form 10-Q Financial Statement

#000109980023000034 Filed on July 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.481B $1.530B
YoY Change 12.27% 11.38%
Cost Of Revenue $350.4M $343.0M
YoY Change 38.06% 27.32%
Gross Profit $1.131B $1.187B
YoY Change 6.13% 7.49%
Gross Profit Margin 76.34% 77.58%
Selling, General & Admin $439.6M $468.7M
YoY Change 16.51% 14.6%
% of Gross Profit 38.89% 39.48%
Research & Development $270.3M $270.3M
YoY Change 15.71% 7.78%
% of Gross Profit 23.91% 22.77%
Depreciation & Amortization $36.90M $36.10M
YoY Change 4.24% 5.87%
% of Gross Profit 3.26% 3.04%
Operating Expenses $709.9M $712.1M
YoY Change 16.21% 7.93%
Operating Profit $418.4M $475.1M
YoY Change 3.98% 3.39%
Interest Expense $15.10M $11.30M
YoY Change 118.84% 205.41%
% of Operating Profit 3.61% 2.38%
Other Income/Expense, Net $5.800M $0.00
YoY Change -390.0% -100.0%
Pretax Income $439.3M $338.5M
YoY Change 7.86% -27.16%
Income Tax $55.60M $33.00M
% Of Pretax Income 12.66% 9.75%
Net Earnings $384.9M $307.1M
YoY Change 12.05% -24.43%
Net Earnings / Revenue 25.99% 20.07%
Basic Earnings Per Share $0.63 $0.51
Diluted Earnings Per Share $0.63 $0.50
COMMON SHARES
Basic Shares Outstanding 607.9M shares 606.2M shares
Diluted Shares Outstanding 609.5M shares 610.3M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.864B $1.509B
YoY Change 7.2% -0.43%
Cash & Equivalents $1.410B $1.043B
Short-Term Investments $453.8M $466.7M
Other Short-Term Assets $235.8M $340.6M
YoY Change -11.88% 36.9%
Inventory $1.032B $980.2M
Prepaid Expenses $133.3M $123.2M
Receivables $739.8M $754.4M
Other Receivables $62.30M $62.50M
Total Short-Term Assets $4.068B $3.647B
YoY Change 15.75% 11.76%
LONG-TERM ASSETS
Property, Plant & Equipment $1.681B $1.747B
YoY Change 7.34% 12.0%
Goodwill $1.297B $1.300B
YoY Change 11.97% 11.63%
Intangibles $429.8M $431.4M
YoY Change 61.28% 34.52%
Long-Term Investments $22.90M $856.2M
YoY Change 6.51% 5764.38%
Other Assets $447.4M $1.023B
YoY Change 41.36% 335.79%
Total Long-Term Assets $5.303B $5.357B
YoY Change 3.49% 3.78%
TOTAL ASSETS
Total Short-Term Assets $4.068B $3.647B
Total Long-Term Assets $5.303B $5.357B
Total Assets $9.371B $9.004B
YoY Change 8.48% 6.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $190.6M $193.0M
YoY Change 23.05% 18.77%
Accrued Expenses $773.3M $740.2M
YoY Change 3190.64% 18.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.239B $1.157B
YoY Change 34.97% 19.41%
LONG-TERM LIABILITIES
Long-Term Debt $596.8M $596.7M
YoY Change 0.1% 0.12%
Other Long-Term Liabilities $240.3M $499.9M
YoY Change 8.68% 124.98%
Total Long-Term Liabilities $837.1M $1.097B
YoY Change 2.42% 34.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.239B $1.157B
Total Long-Term Liabilities $837.1M $1.097B
Total Liabilities $2.644B $2.628B
YoY Change 9.23% 5.92%
SHAREHOLDERS EQUITY
Retained Earnings $8.623B $8.238B
YoY Change 19.9% 20.29%
Common Stock $2.861B $2.795B
YoY Change 11.76% 11.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.658B $6.376B
YoY Change
Total Liabilities & Shareholders Equity $9.371B $9.004B
YoY Change 8.48% 6.87%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $384.9M $307.1M
YoY Change 12.05% -24.43%
Depreciation, Depletion And Amortization $36.90M $36.10M
YoY Change 4.24% 5.87%
Cash From Operating Activities $411.5M $33.60M
YoY Change 32.78% -89.89%
INVESTING ACTIVITIES
Capital Expenditures $55.30M $47.90M
YoY Change -192.32% -211.14%
Acquisitions
YoY Change
Other Investing Activities $144.3M $118.1M
YoY Change -201.91% -31.62%
Cash From Investing Activities $89.00M $70.20M
YoY Change -144.17% -45.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -143.3M 52.10M
YoY Change 105.01% -116.91%
NET CHANGE
Cash From Operating Activities 411.5M 33.60M
Cash From Investing Activities 89.00M 70.20M
Cash From Financing Activities -143.3M 52.10M
Net Change In Cash 357.2M 155.9M
YoY Change 827.79% 1.43%
FREE CASH FLOW
Cash From Operating Activities $411.5M $33.60M
Capital Expenditures $55.30M $47.90M
Free Cash Flow $356.2M -$14.30M
YoY Change -3.68% -103.81%

Facts In Submission

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DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
182100000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
314900000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
293200000 usd
CY2021 us-gaap Income Tax Examination Estimate Of Possible Loss
IncomeTaxExaminationEstimateOfPossibleLoss
220000000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1530200000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1373900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2989800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2715100000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-26900000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-20900000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-26200000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-23800000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
327200000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
459500000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
715600000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
898300000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
338500000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
464700000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
737100000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
900800000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1530200000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1373900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2989800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2715100000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1530200000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1373900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2989800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2715100000 usd

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