$MRK
Merck & Co., Inc.

2022 Q1 Form 10-Q Financial Statement

#000031015822000011 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $15.90B $10.63B
YoY Change 49.63% -11.86%
Cost Of Revenue $5.380B $3.199B
YoY Change 68.18% -3.41%
Gross Profit $10.52B $7.428B
YoY Change 41.64% -15.06%
Gross Profit Margin 66.17% 69.9%
Selling, General & Admin $2.323B $2.187B
YoY Change 6.22% -14.4%
% of Gross Profit 22.08% 29.44%
Research & Development $2.576B $2.412B
YoY Change 6.8% 9.19%
% of Gross Profit 24.48% 32.47%
Depreciation & Amortization $421.0M $378.0M
YoY Change 11.38% -53.96%
% of Gross Profit 4.0% 5.09%
Operating Expenses $4.899B $4.599B
YoY Change 6.52% -3.46%
Operating Profit $5.622B $2.829B
YoY Change 98.73% -28.94%
Interest Expense $243.0M $200.0M
YoY Change 21.5% -5.66%
% of Operating Profit 4.32% 7.07%
Other Income/Expense, Net -$708.0M $455.0M
YoY Change -255.6% -740.85%
Pretax Income $4.861B $2.987B
YoY Change 62.74% -22.17%
Income Tax $554.0M $238.0M
% Of Pretax Income 11.4% 7.97%
Net Earnings $4.310B $3.179B
YoY Change 35.58% -1.24%
Net Earnings / Revenue 27.11% 29.91%
Basic Earnings Per Share $1.70 $1.26
Diluted Earnings Per Share $1.70 $1.25
COMMON SHARES
Basic Shares Outstanding 2.528B shares 2.531B shares
Diluted Shares Outstanding 2.537B shares 2.541B shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.928B $6.981B
YoY Change 27.89% -6.07%
Cash & Equivalents $8.556B $6.981B
Short-Term Investments $372.0M
Other Short-Term Assets $6.654B $5.291B
YoY Change 25.76% 12.24%
Inventory $5.774B $6.402B
Prepaid Expenses
Receivables $9.828B $8.235B
Other Receivables $0.00 $0.00
Total Short-Term Assets $31.18B $26.91B
YoY Change 15.89% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $19.75B $18.30B
YoY Change 7.94% 19.82%
Goodwill $21.26B $20.21B
YoY Change 5.18% 2.25%
Intangibles $23.02B $14.40B
YoY Change 59.86% -10.53%
Long-Term Investments $959.0M $544.0M
YoY Change 76.29% -1.98%
Other Assets $10.50B $10.49B
YoY Change 0.11% 48.7%
Total Long-Term Assets $75.48B $63.94B
YoY Change 18.06% 8.85%
TOTAL ASSETS
Total Short-Term Assets $31.18B $26.91B
Total Long-Term Assets $75.48B $63.94B
Total Assets $106.7B $90.85B
YoY Change 17.41% 6.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.715B $4.034B
YoY Change -7.91% 12.93%
Accrued Expenses $14.05B $11.91B
YoY Change 17.97% 8.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.208B $7.251B
YoY Change -83.34% 13.99%
Total Short-Term Liabilities $22.32B $26.36B
YoY Change -15.34% 12.26%
LONG-TERM LIABILITIES
Long-Term Debt $30.59B $24.00B
YoY Change 27.43% 10.93%
Other Long-Term Liabilities $9.742B $12.24B
YoY Change -20.41% 5.98%
Total Long-Term Liabilities $40.33B $36.24B
YoY Change 11.27% 9.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.32B $26.36B
Total Long-Term Liabilities $40.33B $36.24B
Total Liabilities $62.64B $62.60B
YoY Change 0.06% 10.47%
SHAREHOLDERS EQUITY
Retained Earnings $56.25B $48.89B
YoY Change 15.06% 1.28%
Common Stock $46.06B $41.40B
YoY Change 11.26% -0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $56.72B
YoY Change -0.77%
Treasury Stock Shares 1.046B shares
Shareholders Equity $40.88B $26.95B
YoY Change
Total Liabilities & Shareholders Equity $106.7B $90.85B
YoY Change 17.41% 6.99%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $4.310B $3.179B
YoY Change 35.58% -1.24%
Depreciation, Depletion And Amortization $421.0M $378.0M
YoY Change 11.38% -53.96%
Cash From Operating Activities $4.761B $1.791B
YoY Change 165.83% 153.32%
INVESTING ACTIVITIES
Capital Expenditures -$984.0M -$1.134B
YoY Change -13.23% 15.01%
Acquisitions $14.00M
YoY Change
Other Investing Activities -$182.0M -$11.00M
YoY Change 1554.55% -91.91%
Cash From Investing Activities -$1.173B -$738.0M
YoY Change 58.94% -54.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $1.250B $1.153B
YoY Change 8.41% -40.9%
Cash From Financing Activities -$3.086B -$2.098B
YoY Change 47.09% 40.81%
NET CHANGE
Cash From Operating Activities 4.761B $1.791B
Cash From Investing Activities -1.173B -$738.0M
Cash From Financing Activities -$3.086B -$2.098B
Net Change In Cash $447.0M -$1.142B
YoY Change -139.14% -53.84%
FREE CASH FLOW
Cash From Operating Activities $4.761B $1.791B
Capital Expenditures -$984.0M -$1.134B
Free Cash Flow $5.745B $2.925B
YoY Change 96.41% 72.77%

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CY2021Q1 us-gaap Payments To Acquire Marketable Securities
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CY2021Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2021Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2022Q1 us-gaap Repayments Of Long Term Debt
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1250000000 USD
CY2021Q1 us-gaap Repayments Of Long Term Debt
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1153000000 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
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1745000000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
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CY2022Q1 us-gaap Proceeds From Stock Options Exercised
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CY2021Q1 us-gaap Proceeds From Stock Options Exercised
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CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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CY2022Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2021Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2022Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2021Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
447000000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
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CY2021Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
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CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
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Reclassifications — Certain reclassifications have been made to prior year amounts to conform to the current year presentation
CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Consideration
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CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Other Expense
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CY2021Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
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CY2021Q1 mrk Disposal Group Including Discontinued Operations Research And Development Expenses
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CY2021Q1 mrk Disposal Group Including Discontinued Operations Restructuring Costs
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CY2021Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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CY2021Q1 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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CY2022Q1 us-gaap Restructuring And Related Cost Expected Cost1
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CY2022Q1 mrk Estimate Of Cumulative Pre Tax Costs That Will Result In Cash Outlays
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CY2022Q1 mrk Estimate Of Cumulative Pre Tax Costs That Will Be Noncash
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CY2021Q1 us-gaap Restructuring And Related Cost Incurred Cost
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CY2022Q1 us-gaap Restructuring And Related Cost Incurred Cost
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CY2021Q1 us-gaap Restructuring And Related Cost Incurred Cost
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CY2022Q1 us-gaap Restructuring Reserve
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CY2021Q1 us-gaap Revenues
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248000000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2022Q1 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2021Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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33000000 USD
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248000000 USD
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CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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CY2022Q1 mrk Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Other
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CY2021Q1 mrk Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Other
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12000000 USD
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CY2021Q1 us-gaap Business Combination Contingent Consideration Liability
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CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2022Q1 us-gaap Inventory Work In Process And Raw Materials
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CY2022Q1 us-gaap Other Inventory Supplies
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CY2021Q4 us-gaap Other Inventory Supplies
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CY2021Q4 us-gaap Inventory Gross
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CY2022Q1 us-gaap Inventory Lifo Reserve
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CY2021Q4 mrk Inventory Net And Inventory Noncurrent
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CY2022Q1 us-gaap Inventory Net
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Interest Expense
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CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
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CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
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574000000 USD
CY2022Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2021Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2022Q1 us-gaap Other Nonoperating Income Expense
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CY2021Q1 us-gaap Other Nonoperating Income Expense
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CY2022Q1 us-gaap Interest Paid
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CY2021Q1 us-gaap Income Loss From Continuing Operations
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CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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4310000000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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4310000000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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3179000000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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9000000 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
10000000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2537000000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2541000000 shares
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.70
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.08
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0
CY2021Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.17
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.70
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.26
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.70
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.08
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.17
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.70
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.25
CY2021Q1 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
-35000000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
127000000 USD
CY2021Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-162000000 USD
CY2021Q1 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-198000000 USD
CY2021Q1 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
-24000000 USD
CY2021Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-174000000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
12000000 USD
CY2022Q1 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
131000000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
50000000 USD
CY2022Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
81000000 USD
CY2022Q1 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
23000000 USD
CY2022Q1 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
2000000 USD
CY2022Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
21000000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
60000000 USD
CY2022Q1 us-gaap Revenues
Revenues
15901000000 USD
CY2021Q1 us-gaap Revenues
Revenues
10627000000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
114000000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
56000000 USD
CY2022Q1 mrk Sales Discounts
SalesDiscounts
2900000000 USD
CY2021Q1 mrk Sales Discounts
SalesDiscounts
2800000000 USD
CY2022Q1 us-gaap Revenues
Revenues
15901000000 USD
CY2021Q1 us-gaap Revenues
Revenues
10627000000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4861000000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2987000000 USD

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