$MRK
Merck & Co., Inc.

2012 Q4 Form 10-Q Financial Statement

#000119312512463586 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $11.74B $11.49B $12.02B
YoY Change -4.52% -4.44% 8.06%
Cost Of Revenue $2.934B $4.137B $4.352B
YoY Change 1.56% -4.94% 55.65%
Gross Profit $8.804B $7.351B $7.670B
YoY Change -6.39% -4.16% -7.91%
Gross Profit Margin 75.0% 63.99% 63.8%
Selling, General & Admin $3.282B $3.063B $3.340B
YoY Change -8.22% -8.29% 11.41%
% of Gross Profit 37.28% 41.67% 43.55%
Research & Development $2.197B $1.918B $1.954B
YoY Change 3.34% -1.84% -0.81%
% of Gross Profit 24.95% 26.09% 25.48%
Depreciation & Amortization $1.661B $1.723B $1.903B
YoY Change -10.75% -9.46% 1.22%
% of Gross Profit 18.87% 23.44% 24.81%
Operating Expenses $5.479B $4.981B $5.294B
YoY Change -3.91% -5.91% 6.56%
Operating Profit $3.325B $2.370B $2.376B
YoY Change -10.21% -0.25% -29.31%
Interest Expense $42.00M $178.0M $176.0M
YoY Change -50.59% 1.14% 125.64%
% of Operating Profit 1.26% 7.51% 7.41%
Other Income/Expense, Net -$480.0M -$200.0M -$66.00M
YoY Change -1554.55% 203.03% -93.05%
Pretax Income $1.335B $2.218B $2.352B
YoY Change -15.51% -5.7% 372.29%
Income Tax $386.0M $455.0M $628.0M
% Of Pretax Income 28.91% 20.51% 26.7%
Net Earnings $908.0M $1.729B $1.692B
YoY Change -39.95% 2.19% 394.74%
Net Earnings / Revenue 7.74% 15.05% 14.07%
Basic Earnings Per Share $0.57 $0.55
Diluted Earnings Per Share $295.4K $0.56 $0.55
COMMON SHARES
Basic Shares Outstanding 3.040B shares 3.045B shares 3.070B shares
Diluted Shares Outstanding 3.079B shares 3.091B shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.15B $18.12B $15.58B
YoY Change 7.87% 16.31% 46.6%
Cash & Equivalents $13.45B $17.36B $14.25B
Short-Term Investments $2.700B $757.0M $1.323B
Other Short-Term Assets $4.509B $3.429B $4.158B
YoY Change 22.06% -17.53% 16.47%
Inventory $6.535B $6.731B $6.239B
Prepaid Expenses
Receivables $7.672B $7.952B $8.136B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.86B $36.23B $34.11B
YoY Change 5.05% 6.22% 22.89%
LONG-TERM ASSETS
Property, Plant & Equipment $16.03B $15.88B $16.38B
YoY Change -1.64% -3.05% -4.28%
Goodwill $12.13B $12.17B
YoY Change -0.17%
Intangibles $29.08B $30.33B
YoY Change -15.21%
Long-Term Investments $1.300B $5.560B $2.423B
YoY Change 46.73% 129.47% 13.33%
Other Assets $6.723B $6.135B $5.569B
YoY Change 17.23% 10.16% 3.21%
Total Long-Term Assets $71.28B $70.07B $72.43B
YoY Change -0.93% -3.25% -9.56%
TOTAL ASSETS
Total Short-Term Assets $34.86B $36.23B $34.11B
Total Long-Term Assets $71.28B $70.07B $72.43B
Total Assets $106.1B $106.3B $106.5B
YoY Change 0.96% -0.22% -1.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.753B $1.804B $2.282B
YoY Change -13.35% -20.95% 1.78%
Accrued Expenses $9.737B $8.923B $9.228B
YoY Change -4.26% -3.31% 13.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.800B $2.029B $2.455B
YoY Change -9.55% -17.35% -40.35%
Total Short-Term Liabilities $18.35B $15.58B $16.59B
YoY Change 12.95% -6.09% -4.21%
LONG-TERM LIABILITIES
Long-Term Debt $16.25B $17.57B $15.69B
YoY Change 4.7% 11.97% 11.83%
Other Long-Term Liabilities $10.33B
YoY Change
Total Long-Term Liabilities $26.58B $17.57B $15.69B
YoY Change 71.21% 11.97% 11.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.35B $15.58B $16.59B
Total Long-Term Liabilities $26.58B $17.57B $15.69B
Total Liabilities $44.93B $33.15B $51.39B
YoY Change 41.42% -35.49% -1.63%
SHAREHOLDERS EQUITY
Retained Earnings $39.99B $40.39B
YoY Change 2.55%
Common Stock $42.43B $42.26B
YoY Change -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.72B $23.86B
YoY Change 3.89%
Treasury Stock Shares 550.5M shares 532.7M shares
Shareholders Equity $53.02B $55.75B $55.14B
YoY Change
Total Liabilities & Shareholders Equity $106.1B $106.3B $106.5B
YoY Change 0.96% -0.22% -1.21%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $908.0M $1.729B $1.692B
YoY Change -39.95% 2.19% 394.74%
Depreciation, Depletion And Amortization $1.661B $1.723B $1.903B
YoY Change -10.75% -9.46% 1.22%
Cash From Operating Activities $1.809B $3.139B $4.577B
YoY Change -44.05% -31.42% 76.58%
INVESTING ACTIVITIES
Capital Expenditures -$778.0M -$414.0M -$431.0M
YoY Change 29.02% -3.94% 27.51%
Acquisitions
YoY Change
Other Investing Activities -$3.620B -$1.425B $168.0M
YoY Change 234.88% -948.21% -68.48%
Cash From Investing Activities -$4.398B -$1.839B -$263.0M
YoY Change 161.16% 599.24% -235.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.218B -738.0M -2.244B
YoY Change -45.41% -67.11% 38.09%
NET CHANGE
Cash From Operating Activities 1.809B 3.139B 4.577B
Cash From Investing Activities -4.398B -1.839B -263.0M
Cash From Financing Activities -1.218B -738.0M -2.244B
Net Change In Cash -3.807B 562.0M 2.070B
YoY Change 458.21% -72.85% 78.29%
FREE CASH FLOW
Cash From Operating Activities $1.809B $3.139B $4.577B
Capital Expenditures -$778.0M -$414.0M -$431.0M
Free Cash Flow $2.587B $3.553B $5.008B
YoY Change -32.56% -29.05% 70.92%

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CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1918000000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3045000000 shares
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205 pure
CY2012Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
170000000
CY2012Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
60000000
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
88000000
CY2012Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
28000000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
86000000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2012Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
163000000
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
4137000000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
1729000000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.42
CY2012Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-143000000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3079000000 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
34000000 shares
CY2012Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-50000000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3063000000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
455000000
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
34000000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
158000000
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1729000000
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
11488000000
CY2012Q3 us-gaap Restructuring Charges
RestructuringCharges
110000000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2218000000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
97000000 shares
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1815000000
CY2012Q3 us-gaap Interest Expense
InterestExpense
178000000
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1729000000
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
32000000
CY2012Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
40000000
CY2012Q3 mrk Other Other Nonoperating Income Expense
OtherOtherNonoperatingIncomeExpense
-19000000
CY2012Q3 mrk Costs Expenses And Other
CostsExpensesAndOther
9270000000

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