$MRK
Merck & Co., Inc.

2012 Q4 Form 10-K Financial Statement

#000119312513084618 Filed on February 28, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q4 2010 Q4
Revenue $11.74B $12.29B $12.09B
YoY Change -4.52% 1.65% 19.83%
Cost Of Revenue $2.934B $2.889B $4.440B
YoY Change 1.56% -34.93% -9.41%
Gross Profit $8.804B $9.405B $7.654B
YoY Change -6.39% 22.88% 47.42%
Gross Profit Margin 75.0% 76.5% 63.29%
Selling, General & Admin $3.282B $3.576B $3.364B
YoY Change -8.22% 6.3% 5.45%
% of Gross Profit 37.28% 38.02% 43.95%
Research & Development $2.197B $2.126B $2.219B
YoY Change 3.34% -4.19% 2.35%
% of Gross Profit 24.95% 22.6% 28.99%
Depreciation & Amortization $1.661B $1.861B $1.866B
YoY Change -10.75% -0.27% 49.28%
% of Gross Profit 18.87% 19.79% 24.38%
Operating Expenses $5.479B $5.702B $5.583B
YoY Change -3.91% 2.13% 4.22%
Operating Profit $3.325B $3.703B $2.071B
YoY Change -10.21% 78.8% -1355.15%
Interest Expense $42.00M $85.00M $171.0M
YoY Change -50.59% -50.29% -23.66%
% of Operating Profit 1.26% 2.3% 8.26%
Other Income/Expense, Net -$480.0M $33.00M -$309.0M
YoY Change -1554.55% -110.68% -103.88%
Pretax Income $1.335B $1.580B -$701.0M
YoY Change -15.51% -325.39% -110.85%
Income Tax $386.0M $37.00M -$201.0M
% Of Pretax Income 28.91% 2.34%
Net Earnings $908.0M $1.512B -$531.0M
YoY Change -39.95% -384.75% -108.18%
Net Earnings / Revenue 7.74% 12.3% -4.39%
Basic Earnings Per Share
Diluted Earnings Per Share $295.4K $492.7K -$172.3K
COMMON SHARES
Basic Shares Outstanding 3.040B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2011 Q4 2010 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.15B $14.97B $12.20B
YoY Change 7.87% 22.71% 27.04%
Cash & Equivalents $13.45B $13.53B $10.90B
Short-Term Investments $2.700B $1.441B $1.301B
Other Short-Term Assets $4.509B $3.694B $3.651B
YoY Change 22.06% 1.18% -12.59%
Inventory $6.535B $6.254B $5.868B
Prepaid Expenses
Receivables $7.672B $8.261B $7.344B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.86B $33.18B $29.06B
YoY Change 5.05% 14.17% 2.22%
LONG-TERM ASSETS
Property, Plant & Equipment $16.03B $16.30B $17.08B
YoY Change -1.64% -4.6% -6.55%
Goodwill $12.13B $12.16B $12.38B
YoY Change -0.17% -1.8%
Intangibles $29.08B $34.30B
YoY Change -15.21%
Long-Term Investments $1.300B $886.0M $2.175B
YoY Change 46.73% -59.26% 403.47%
Other Assets $6.723B $5.735B $5.626B
YoY Change 17.23% 1.94% 4.65%
Total Long-Term Assets $71.28B $71.95B $76.72B
YoY Change -0.93% -6.22% -8.54%
TOTAL ASSETS
Total Short-Term Assets $34.86B $33.18B $29.06B
Total Long-Term Assets $71.28B $71.95B $76.72B
Total Assets $106.1B $105.1B $105.8B
YoY Change 0.96% -0.62% -5.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.753B $2.023B $2.308B
YoY Change -13.35% -12.35% 2.85%
Accrued Expenses $9.737B $10.17B $8.514B
YoY Change -4.26% 19.45% -9.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $1.800B $1.990B $2.400B
YoY Change -9.55% -17.08% 74.04%
Total Short-Term Liabilities $18.35B $16.25B $15.64B
YoY Change 12.95% 3.86% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $16.25B $15.53B $15.48B
YoY Change 4.7% 0.28% -3.81%
Other Long-Term Liabilities $10.33B
YoY Change
Total Long-Term Liabilities $26.58B $15.53B $15.48B
YoY Change 71.21% 0.28% -3.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.35B $16.25B $15.64B
Total Long-Term Liabilities $26.58B $15.53B $15.48B
Total Liabilities $44.93B $31.77B $51.41B
YoY Change 41.42% -38.2% -3.48%
SHAREHOLDERS EQUITY
Retained Earnings $39.99B $38.99B
YoY Change 2.55%
Common Stock $42.43B $42.45B
YoY Change -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.72B $23.79B
YoY Change 3.89%
Treasury Stock Shares 550.5M shares 536.1M shares
Shareholders Equity $53.02B $54.52B $54.38B
YoY Change
Total Liabilities & Shareholders Equity $106.1B $105.1B $105.8B
YoY Change 0.96% -0.62% -5.82%

Cashflow Statement

Concept 2012 Q4 2011 Q4 2010 Q4
OPERATING ACTIVITIES
Net Income $908.0M $1.512B -$531.0M
YoY Change -39.95% -384.75% -108.18%
Depreciation, Depletion And Amortization $1.661B $1.861B $1.866B
YoY Change -10.75% -0.27% 49.28%
Cash From Operating Activities $1.809B $3.233B $3.539B
YoY Change -44.05% -8.65% 57.85%
INVESTING ACTIVITIES
Capital Expenditures -$778.0M -$603.0M -$660.0M
YoY Change 29.02% -8.64% 18.49%
Acquisitions
YoY Change
Other Investing Activities -$3.620B -$1.081B -$347.0M
YoY Change 234.88% 211.53% -97.18%
Cash From Investing Activities -$4.398B -$1.684B -$1.007B
YoY Change 161.16% 67.23% -92.17%
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 -2.231B -1.295B
YoY Change -45.41% 72.28% -29.96%
NET CHANGE
Cash From Operating Activities 1.809B 3.233B 3.539B
Cash From Investing Activities -4.398B -1.684B -1.007B
Cash From Financing Activities -1.218B -2.231B -1.295B
Net Change In Cash -3.807B -682.0M 1.237B
YoY Change 458.21% -155.13% -109.92%
FREE CASH FLOW
Cash From Operating Activities $1.809B $3.233B $3.539B
Capital Expenditures -$778.0M -$603.0M -$660.0M
Free Cash Flow $2.587B $3.836B $4.199B
YoY Change -32.56% -8.64% 50.02%

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60000000
CY2012 mrk Income Tax Reconciliation Legal Settlement
IncomeTaxReconciliationLegalSettlement
98000000
CY2012 mrk Participating Securities Distributed And Undistributed Earnings Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsBasic
3000000
CY2012 mrk Percentage Of Company Pension Projected Benefit Obligation Relates To International Defined Benefit Plans
PercentageOfCompanyPensionProjectedBenefitObligationRelatesToInternationalDefinedBenefitPlans
0.44 pure
CY2012 mrk Effective Income Tax Rate Reconciliation Amortization Of Purchase Accounting Adjustments
EffectiveIncomeTaxRateReconciliationAmortizationOfPurchaseAccountingAdjustments
0.103 pure
CY2012 mrk Effective Income Tax Rate Reconciliation Health Care Reform
EffectiveIncomeTaxRateReconciliationHealthCareReform
0.007 pure
CY2012 mrk Effective Income Tax Rate Reconciliation Unremitted Foreign Earnings
EffectiveIncomeTaxRateReconciliationUnremittedForeignEarnings
-0.001 pure
CY2012 mrk Effective Income Tax Reconciliation Legal Settlement
EffectiveIncomeTaxReconciliationLegalSettlement
0.012 pure
CY2012 mrk Expected Annual Standard Deviation In Returns Of Target Portfolio Which Reflects Both Equity Allocation And Diversification Benefits Among Asset Classes In Which Portfolio Invests
ExpectedAnnualStandardDeviationInReturnsOfTargetPortfolioWhichReflectsBothEquityAllocationAndDiversificationBenefitsAmongAssetClassesInWhichPortfolioInvests
0.13 pure
CY2012 mrk Percentage Of Cash And Cash Equivalents Invested In Highly Rated Money Market Funds
PercentageOfCashAndCashEquivalentsInvestedInHighlyRatedMoneyMarketFunds
0.50 pure
CY2012 mrk Maximum Debt To Capitalization Ratio Allowable
MaximumDebtToCapitalizationRatioAllowable
0.60 pure
CY2012 mrk Number Of Years For Royalty Payments
NumberOfYearsForRoyaltyPayments
P10Y

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