2021 Q4 Form 10-K Financial Statement

#000123252422000012 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $896.7M $3.094B $665.5M
YoY Change 34.74% 30.91% 14.4%
Cost Of Revenue $136.2M $440.8M $50.20M
YoY Change 171.22% 196.01% 42.21%
Gross Profit $760.6M $2.653B $611.1M
YoY Change 24.45% 19.81% 12.93%
Gross Profit Margin 84.82% 85.76% 91.83%
Selling, General & Admin $254.9M $1.452B $247.2M
YoY Change 3.1% 69.94% 15.35%
% of Gross Profit 33.51% 54.71% 40.45%
Research & Development $155.4M $505.7M $127.7M
YoY Change 21.73% 50.8% 31.11%
% of Gross Profit 20.44% 19.06% 20.9%
Depreciation & Amortization $164.6M $26.70M $71.70M
YoY Change 129.6% 42.78% -59.7%
% of Gross Profit 21.64% 1.01% 11.73%
Operating Expenses $567.6M $1.957B $441.9M
YoY Change 28.44% 64.54% -8.92%
Operating Profit $193.0M $170.3M $169.2M
YoY Change 14.02% -54.96% 202.34%
Interest Expense -$94.21M -$278.8M -$28.60M
YoY Change 229.41% 179.59% 39.51%
% of Operating Profit -48.82% -163.71% -16.9%
Other Income/Expense, Net
YoY Change
Pretax Income -$44.83M $97.56M $144.8M
YoY Change -130.96% -195.34% 254.9%
Income Tax -$12.47M $216.1M $10.80M
% Of Pretax Income 221.51% 7.46%
Net Earnings -$35.35M -$329.7M $133.4M
YoY Change -126.5% -238.16% 80.31%
Net Earnings / Revenue -3.94% -10.65% 20.05%
Basic Earnings Per Share -$5.52 $2.39
Diluted Earnings Per Share -$574.6K -$5.52 $2.33
COMMON SHARES
Basic Shares Outstanding 61.47M shares 59.69M shares 55.71M shares
Diluted Shares Outstanding 59.69M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $591.4M $591.4M $2.133B
YoY Change -72.27% -72.27% 97.98%
Cash & Equivalents $591.4M $1.058B
Short-Term Investments $80.70M $80.70M $1.616B
Other Short-Term Assets $252.4M $383.8M $152.5M
YoY Change 65.51% 78.6% 93.28%
Inventory $1.073B $1.073B $95.40M
Prepaid Expenses $131.4M $62.42M
Receivables $563.4M $563.4M $396.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.611B $2.611B $2.840B
YoY Change -8.04% -8.04% 74.18%
LONG-TERM ASSETS
Property, Plant & Equipment $343.4M $343.4M $127.9M
YoY Change 168.44% 33.58% -2.72%
Goodwill $1.828B $958.3M
YoY Change 90.71% 4.16%
Intangibles $7.152B $2.195B
YoY Change 225.84% -10.07%
Long-Term Investments
YoY Change
Other Assets $40.81M $363.9M $25.72M
YoY Change 58.68% 27.3% -46.32%
Total Long-Term Assets $9.687B $9.687B $3.696B
YoY Change 162.08% 162.08% -5.43%
TOTAL ASSETS
Total Short-Term Assets $2.611B $2.611B $2.840B
Total Long-Term Assets $9.687B $9.687B $3.696B
Total Assets $12.30B $12.30B $6.536B
YoY Change 88.17% 88.17% 18.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.3M $100.3M $26.95M
YoY Change 272.23% 272.86% -41.08%
Accrued Expenses $666.3M $647.5M $352.7M
YoY Change 88.9% 85.47% 30.79%
Deferred Revenue $2.093M $2.546M
YoY Change -17.79% -46.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $31.00M $31.41M $246.3M
YoY Change -87.41% -87.25% 637.78%
Total Short-Term Liabilities $809.3M $809.3M $653.7M
YoY Change 23.79% 23.8% 79.36%
LONG-TERM LIABILITIES
Long-Term Debt $6.019B $6.025B $1.849B
YoY Change 225.61% 225.95% 17.45%
Other Long-Term Liabilities $117.0M $198.4M $101.1M
YoY Change 15.67% -18.52% -7.52%
Total Long-Term Liabilities $6.136B $6.224B $1.950B
YoY Change 214.72% 197.5% 15.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $809.3M $809.3M $653.7M
Total Long-Term Liabilities $6.136B $6.224B $1.950B
Total Liabilities $6.945B $8.333B $2.603B
YoY Change 166.77% 189.74% 27.14%
SHAREHOLDERS EQUITY
Retained Earnings $830.2M $1.160B
YoY Change -28.42% 8.62%
Common Stock $3.535B $2.634B
YoY Change 34.22% 16.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.965B $3.965B $3.660B
YoY Change
Total Liabilities & Shareholders Equity $12.30B $12.30B $6.536B
YoY Change 88.17% 88.17% 18.0%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$35.35M -$329.7M $133.4M
YoY Change -126.5% -238.16% 80.31%
Depreciation, Depletion And Amortization $164.6M $26.70M $71.70M
YoY Change 129.6% 42.78% -59.7%
Cash From Operating Activities $177.8M $778.5M $186.2M
YoY Change -4.54% -13.47% 112.07%
INVESTING ACTIVITIES
Capital Expenditures -$9.967M $27.64M -$40.20M
YoY Change -75.21% 84.22% 466.2%
Acquisitions $6.235B
YoY Change
Other Investing Activities -$125.0K -$5.167B $113.4M
YoY Change -100.11% 722.19% -174.61%
Cash From Investing Activities -$10.09M -$5.212B $73.20M
YoY Change -113.79% 417.25% -146.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -246.6M $3.971B 55.90M
YoY Change -541.16% 651.89% -163.74%
NET CHANGE
Cash From Operating Activities 177.8M $778.5M 186.2M
Cash From Investing Activities -10.09M -$5.212B 73.20M
Cash From Financing Activities -246.6M $3.971B 55.90M
Net Change In Cash -78.95M -$466.3M 315.3M
YoY Change -125.04% -210.92% -298.3%
FREE CASH FLOW
Cash From Operating Activities $177.8M $778.5M $186.2M
Capital Expenditures -$9.967M $27.64M -$40.20M
Free Cash Flow $187.7M $750.9M $226.4M
YoY Change -17.08% -15.12% 138.57%

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226823000 USD
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<div style="margin-top:6pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.</span></div>
CY2021 us-gaap Concentration Risk Credit Risk
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<div style="margin-top:6pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, investments and derivative contracts. Our investment policy permits investments in U.S. federal government and federal agency securities, corporate bonds or commercial paper issued by U.S. corporations, money market instruments, certain qualifying money market mutual funds, certain repurchase agreements, and tax-exempt obligations of U.S. states, agencies and municipalities and places restrictions on credit ratings, maturities, and concentration by type and issuer. We are exposed to credit risk in the event of a default by the financial institutions holding our cash, cash equivalents and investments to the extent recorded on the balance sheet.</span></div>We manage our foreign currency transaction risk and interest rate risk within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes. We are also subject to credit risk from our accounts receivable related to our product sales. We monitor our exposure within accounts receivable and record a reserve against uncollectible accounts receivable as necessary. We extend credit to pharmaceutical wholesale distributors and specialty pharmaceutical distribution companies, primarily in the U.S., and to other international distributors and hospitals. Customer creditworthiness is monitored and collateral is not required. We monitor economic conditions in certain European countries which may result in variability of the timing of cash receipts and an increase in the average length of time that it takes to collect accounts receivable outstanding. We depend on single source suppliers for most of our products, product candidates and their active pharmaceutical ingredients, or APIs. With respect to our oxybate products, the API is manufactured for us by a single source supplier and the finished product are manufactured both by us in our facility in Athlone, Ireland and by our U.S.-based supplier.
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CY2019 jazz De Recognition Of Operating Lease Asset On Lease Assignment
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3
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3094238000 USD
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139.24
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130.51
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CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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114.33
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137000 shares
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164.45
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275095000 USD
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