$MRK
Merck & Co., Inc.

2023 Q2 Form 10-Q Financial Statement

#000162828023015990 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $15.04B $14.49B $15.90B
YoY Change 3.03% -8.89% 49.63%
Cost Of Revenue $3.525B $3.352B $5.380B
YoY Change -16.39% -37.7% 68.18%
Gross Profit $11.51B $11.14B $10.52B
YoY Change 10.92% 5.84% 41.64%
Gross Profit Margin 76.55% 76.86% 66.17%
Selling, General & Admin $2.625B $2.458B $2.323B
YoY Change 4.5% 5.81% 6.22%
% of Gross Profit 22.81% 22.07% 22.08%
Research & Development $13.31B $4.266B $2.576B
YoY Change 375.77% 65.61% 6.8%
% of Gross Profit 115.66% 38.31% 24.48%
Depreciation & Amortization $903.0M $448.0M $421.0M
YoY Change -3.73% 6.41% 11.38%
% of Gross Profit 7.85% 4.02% 4.0%
Operating Expenses $15.94B $6.724B $4.899B
YoY Change 200.13% 37.25% 6.52%
Operating Profit -$4.427B $4.411B $5.622B
YoY Change -187.37% -21.54% 98.73%
Interest Expense -$194.0M $429.0M $243.0M
YoY Change -180.83% 76.54% 21.5%
% of Operating Profit 9.73% 4.32%
Other Income/Expense, Net $19.00M -$503.0M -$708.0M
YoY Change -104.34% -28.95% -255.6%
Pretax Income -$5.335B $3.650B $4.861B
YoY Change -218.9% -24.91% 62.74%
Income Tax $637.0M $825.0M $554.0M
% Of Pretax Income 22.6% 11.4%
Net Earnings -$5.975B $2.821B $4.310B
YoY Change -251.5% -34.55% 35.58%
Net Earnings / Revenue -39.74% 19.47% 27.11%
Basic Earnings Per Share -$2.35 $1.11 $1.70
Diluted Earnings Per Share -$2.35 $1.11 $1.70
COMMON SHARES
Basic Shares Outstanding 2.537B shares 2.539B shares 2.528B shares
Diluted Shares Outstanding 2.539B shares 2.551B shares 2.537B shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.378B $10.39B $8.928B
YoY Change -37.03% 16.34% 27.89%
Cash & Equivalents $5.660B $9.707B $8.556B
Short-Term Investments $718.0M $680.0M $372.0M
Other Short-Term Assets $5.921B $6.737B $6.654B
YoY Change -13.05% 1.25% 25.76%
Inventory $5.930B $5.863B $5.774B
Prepaid Expenses
Receivables $11.03B $10.42B $9.828B
Other Receivables $718.0M $0.00 $0.00
Total Short-Term Assets $29.98B $33.40B $31.18B
YoY Change -6.66% 7.11% 15.89%
LONG-TERM ASSETS
Property, Plant & Equipment $22.23B $21.76B $19.75B
YoY Change 10.83% 10.18% 7.94%
Goodwill $21.20B $21.21B $21.26B
YoY Change -0.08% -0.23% 5.18%
Intangibles $19.67B $19.86B $23.02B
YoY Change -12.59% -13.75% 59.86%
Long-Term Investments $2.785B $2.232B $959.0M
YoY Change 206.38% 132.74% 76.29%
Other Assets $8.616B $9.338B $10.50B
YoY Change -16.36% -11.05% 0.11%
Total Long-Term Assets $74.49B $74.39B $75.48B
YoY Change -0.65% -1.44% 18.06%
TOTAL ASSETS
Total Short-Term Assets $29.98B $33.40B $31.18B
Total Long-Term Assets $74.49B $74.39B $75.48B
Total Assets $104.5B $107.8B $106.7B
YoY Change -2.45% 1.06% 17.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.442B $3.680B $3.715B
YoY Change -1.15% -0.94% -7.91%
Accrued Expenses $13.38B $13.00B $14.05B
YoY Change -0.93% -7.48% 17.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.839B $2.672B $1.208B
YoY Change -4.7% 121.19% -83.34%
Total Short-Term Liabilities $23.39B $23.13B $22.32B
YoY Change 0.98% 3.65% -15.34%
LONG-TERM LIABILITIES
Long-Term Debt $34.07B $28.07B $30.59B
YoY Change 18.78% -8.21% 27.43%
Other Long-Term Liabilities $7.265B $8.244B $9.742B
YoY Change -18.84% -15.38% -20.41%
Total Long-Term Liabilities $41.34B $36.32B $40.33B
YoY Change 9.84% -9.94% 11.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.39B $23.13B $22.32B
Total Long-Term Liabilities $41.34B $36.32B $40.33B
Total Liabilities $64.73B $59.45B $62.64B
YoY Change 6.46% -5.1% 0.06%
SHAREHOLDERS EQUITY
Retained Earnings $54.20B $62.04B $56.25B
YoY Change -7.25% 10.29% 15.06%
Common Stock $46.01B $46.26B $46.06B
YoY Change 0.23% 0.42% 11.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.69B $46.83B $40.88B
YoY Change
Total Liabilities & Shareholders Equity $104.5B $107.8B $106.7B
YoY Change -2.45% 1.06% 17.41%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$5.975B $2.821B $4.310B
YoY Change -251.5% -34.55% 35.58%
Depreciation, Depletion And Amortization $903.0M $448.0M $421.0M
YoY Change -3.73% 6.41% 11.38%
Cash From Operating Activities $3.704B $1.339B $4.761B
YoY Change -13.9% -71.88% 165.83%
INVESTING ACTIVITIES
Capital Expenditures $965.0M $1.007B -$984.0M
YoY Change -185.47% -202.34% -13.23%
Acquisitions $0.00
YoY Change
Other Investing Activities -$10.48B -$37.00M -$182.0M
YoY Change -20250.0% -79.67% 1554.55%
Cash From Investing Activities -$11.44B -$2.359B -$1.173B
YoY Change 962.49% 101.11% 58.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.000M $1.250B
YoY Change -99.92% 8.41%
Cash From Financing Activities 3.758B -$2.054B -$3.086B
YoY Change -311.48% -33.44% 47.09%
NET CHANGE
Cash From Operating Activities 3.704B $1.339B 4.761B
Cash From Investing Activities -11.44B -$2.359B -1.173B
Cash From Financing Activities 3.758B -$2.054B -$3.086B
Net Change In Cash -3.981B -$2.987B $447.0M
YoY Change -374.93% -768.23% -139.14%
FREE CASH FLOW
Cash From Operating Activities $3.704B $1.339B $4.761B
Capital Expenditures $965.0M $1.007B -$984.0M
Free Cash Flow $2.739B $332.0M $5.745B
YoY Change -49.57% -94.22% 96.41%

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OciBeforeReclassificationsBeforeTaxAttributableToParent
-34000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
4000000 usd
CY2023Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-38000000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
100000000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
23000000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
77000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-115000000 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q1 us-gaap Revenues
Revenues
14487000000 usd
CY2022Q1 us-gaap Revenues
Revenues
15901000000 usd
CY2023Q1 mrk Increase Decrease In Hedge Revenue
IncreaseDecreaseInHedgeRevenue
99000000 usd
CY2022Q1 mrk Increase Decrease In Hedge Revenue
IncreaseDecreaseInHedgeRevenue
69000000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
51000000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
114000000 usd
CY2023Q1 mrk Sales Discounts
SalesDiscounts
3100000000 usd
CY2022Q1 mrk Sales Discounts
SalesDiscounts
2900000000 usd
CY2023Q1 us-gaap Revenues
Revenues
14487000000 usd
CY2022Q1 us-gaap Revenues
Revenues
15901000000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3650000000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4861000000 usd

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