2024 Q1 Form 10-K Financial Statement

#000162828024006850 Filed on February 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $15.78B $14.63B $60.12B
YoY Change 8.89% 5.78% 1.4%
Cost Of Revenue $2.961B $3.340B $13.90B
YoY Change -11.66% -0.62% -8.25%
Gross Profit $12.81B $11.29B $46.22B
YoY Change 15.08% 7.84% 4.72%
Gross Profit Margin 81.23% 77.17% 76.88%
Selling, General & Admin $2.457B $2.751B $10.30B
YoY Change -0.04% 4.68% 5.36%
% of Gross Profit 19.17% 24.37% 22.28%
Research & Development $3.974B $8.838B $29.71B
YoY Change -6.84% 191.2% 150.9%
% of Gross Profit 31.01% 78.28% 64.28%
Depreciation & Amortization $511.0M $964.0M $1.800B
YoY Change 14.06% 8.07% 0.0%
% of Gross Profit 3.99% 8.54% 3.89%
Operating Expenses $6.431B $11.59B $40.01B
YoY Change -4.36% 104.64% 85.1%
Operating Profit $6.383B -$299.0M $6.211B
YoY Change 44.71% -106.22% -72.42%
Interest Expense $116.0M $61.00M $279.0M
YoY Change -72.96% -176.25% -120.7%
% of Operating Profit 1.82% 4.49%
Other Income/Expense, Net -$87.00M -$174.0M -$792.0M
YoY Change -82.7% -302.33% 120.0%
Pretax Income $5.670B -$2.046B $1.889B
YoY Change 55.34% -158.24% -88.51%
Income Tax $903.0M -$821.0M $1.512B
% Of Pretax Income 15.93% 80.04%
Net Earnings $4.762B -$1.226B $365.0M
YoY Change 68.81% -140.64% -97.49%
Net Earnings / Revenue 30.19% -8.38% 0.61%
Basic Earnings Per Share $1.88 $0.14
Diluted Earnings Per Share $1.87 -$0.48 $0.14
COMMON SHARES
Basic Shares Outstanding 2.533B shares 2.534B shares 2.537B shares
Diluted Shares Outstanding 2.544B shares 2.547B shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.619B $7.093B $7.093B
YoY Change -45.9% -46.23% -46.23%
Cash & Equivalents $5.579B $6.841B $6.841B
Short-Term Investments $40.00M $252.0M $252.0M
Other Short-Term Assets $7.950B $8.368B $7.645B
YoY Change 18.01% 16.72% 6.64%
Inventory $6.510B $6.358B $6.358B
Prepaid Expenses
Receivables $11.37B $10.35B $10.35B
Other Receivables $744.0M $723.0M $723.0M
Total Short-Term Assets $31.45B $32.17B $32.17B
YoY Change -5.86% -9.95% -9.95%
LONG-TERM ASSETS
Property, Plant & Equipment $23.05B $23.05B $24.49B
YoY Change 5.92% 7.6% 7.55%
Goodwill $21.18B $21.20B
YoY Change -0.13% -0.03%
Intangibles $17.57B $18.01B
YoY Change -11.51% -11.14%
Long-Term Investments $1.527B $1.501B $1.501B
YoY Change -31.59% -18.73% -18.73%
Other Assets $12.33B $12.00B $9.310B
YoY Change 32.0% 37.95% 26.67%
Total Long-Term Assets $74.40B $74.51B $74.51B
YoY Change 0.01% 1.46% 1.46%
TOTAL ASSETS
Total Short-Term Assets $31.45B $32.17B $32.17B
Total Long-Term Assets $74.40B $74.51B $74.51B
Total Assets $105.8B $106.7B $106.7B
YoY Change -1.81% -2.28% -2.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.514B $3.922B $3.922B
YoY Change -4.51% -8.02% -8.02%
Accrued Expenses $13.13B $15.19B $15.19B
YoY Change 0.97% 7.3% 7.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.077B $1.300B $1.372B
YoY Change 15.16% -23.53% -29.5%
Total Short-Term Liabilities $25.10B $25.69B $25.69B
YoY Change 8.51% 6.0% 6.0%
LONG-TERM LIABILITIES
Long-Term Debt $31.14B $33.68B $33.68B
YoY Change 10.93% 17.18% 17.18%
Other Long-Term Liabilities $8.262B $8.792B $8.792B
YoY Change 0.22% 5.63% 5.63%
Total Long-Term Liabilities $39.40B $42.48B $42.48B
YoY Change 8.5% 14.59% 14.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.10B $25.69B $25.69B
Total Long-Term Liabilities $39.40B $42.48B $42.48B
Total Liabilities $64.50B $68.17B $69.09B
YoY Change 8.5% 11.19% 9.38%
SHAREHOLDERS EQUITY
Retained Earnings $56.70B $53.90B
YoY Change -8.61% -11.76%
Common Stock $46.39B $46.30B
YoY Change 0.28% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.36B $37.58B $37.58B
YoY Change
Total Liabilities & Shareholders Equity $105.8B $106.7B $106.7B
YoY Change -1.81% -2.28% -2.28%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $4.762B -$1.226B $365.0M
YoY Change 68.81% -140.64% -97.49%
Depreciation, Depletion And Amortization $511.0M $964.0M $1.800B
YoY Change 14.06% 8.07% 0.0%
Cash From Operating Activities $3.090B $246.0M $13.01B
YoY Change 130.77% -94.45% -31.89%
INVESTING ACTIVITIES
Capital Expenditures $861.0M $989.0M $3.863B
YoY Change -14.5% -13.93% -11.96%
Acquisitions $746.0M $0.00
YoY Change -100.0%
Other Investing Activities $14.00M $1.042B $36.00M
YoY Change -137.84% -273.96% -212.5%
Cash From Investing Activities -$1.376B $53.00M -$14.08B
YoY Change -41.67% -103.03% 183.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $751.0M $1.755B
YoY Change 75000.0% -22.03%
Cash From Financing Activities -$2.814B -2.245B -4.810B
YoY Change 37.0% 44.47% -47.25%
NET CHANGE
Cash From Operating Activities $3.090B 246.0M 13.01B
Cash From Investing Activities -$1.376B 53.00M -14.08B
Cash From Financing Activities -$2.814B -2.245B -4.810B
Net Change In Cash -$1.238B -1.946B -$5.864B
YoY Change -58.55% -272.52% -227.31%
FREE CASH FLOW
Cash From Operating Activities $3.090B $246.0M $13.01B
Capital Expenditures $861.0M $989.0M $3.863B
Free Cash Flow $2.229B -$743.0M $9.143B
YoY Change 571.39% -122.65% -37.83%

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Nature of Operations<div style="margin-top:5pt;text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Merck &amp; Co., Inc. (Merck or the Company) is a global health care company that delivers innovative health solutions through its prescription medicines, including biologic therapies, vaccines and animal health products. The Company’s operations are principally managed on a product basis and include two operating segments, Pharmaceutical and Animal Health, both of which are reportable segments. </span></div><div style="margin-top:5pt;text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Pharmaceutical segment includes human health pharmaceutical and vaccine products. Human health pharmaceutical products consist of therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders. The Company sells these human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies and managed health care providers such as health maintenance organizations, pharmacy benefit managers and other institutions. Human health vaccine products consist of preventive pediatric, adolescent and adult vaccines. The Company sells these human health vaccines primarily to physicians, wholesalers, distributors and government entities. </span></div><div style="margin-top:5pt;text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Animal Health segment discovers, develops, manufactures and markets a wide range of veterinary pharmaceutical and vaccine products, as well as health management solutions and services, for the prevention, treatment and control of disease in all major livestock and companion animal species. The Company also offers an extensive suite of digitally connected identification, traceability and monitoring products. The Company sells its products to veterinarians, distributors, animal producers, farmers and pet owners. </span></div><div style="margin-top:9pt"><span style="color:#00857c;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Spin-Off of Organon &amp; Co. </span></div><div style="margin-top:3pt;text-align:justify;text-indent:45pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 2, 2021, Merck completed the spin-off of products from its women’s health, biosimilars and established brands businesses into a new, independent, publicly traded company named Organon &amp; Co. (Organon) through a distribution of Organon’s publicly traded stock to Company shareholders. The established brands included in the transaction consisted of dermatology, non-opioid pain management, respiratory, select cardiovascular products, as well as the rest of Merck’s diversified brands franchise. The historical results of the businesses that were contributed to Organon in the spin-off have been reflected as discontinued operations in the Company’s consolidated financial statements through the date of the spin-off (see Note 5).</span></div>
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<span style="color:#00857c;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications —</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%"> </span>Certain reclassifications have been made to prior year amounts to conform to the current year presentation.
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
122000000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
57000000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
117000000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.209
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1437000000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1346000000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
285000000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
281000000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
928000000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1013000000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1213000000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1294000000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.033
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
325000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
268000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
222000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
139000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
109000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
326000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1389000000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
176000000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1213000000 usd
CY2023Q4 mrk Lessee Operating Lease Lease Notyet Commenced Amount
LesseeOperatingLeaseLeaseNotyetCommencedAmount
188000000 usd
CY2023 mrk Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
EnvironmentalLossContingencyStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
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CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
42000000 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
39000000 usd
CY2023 mrk Term For Paying Off Environmental Liabilities
TermForPayingOffEnvironmentalLiabilities
P15Y
CY2023 us-gaap Environmental Exit Costs Reasonably Possible Additional Loss
EnvironmentalExitCostsReasonablyPossibleAdditionalLoss
40000000 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6500000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
81000000 shares
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
645000000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
541000000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
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498000000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
479000000 usd
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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96000000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
78000000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
69000000 usd
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
117.89
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
87.10
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
75.99
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.69
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.45
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.80
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.031
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.031
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.031
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.034
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.030
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.010
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.224
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.225
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13719000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
70.55
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1826000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
117.89
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1934000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
64.57
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
84000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
111.37
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13527000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
77.54
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
442000000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
13119000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
76.63
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y1M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
438000000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9451000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
68.97
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y2M12D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
379000000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
95000000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
225000000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
106000000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
30000000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
30000000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
27000000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
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384000000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
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202000000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
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175000000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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158000000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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990000000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2023 us-gaap Defined Contribution Plan Cost Recognized
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199000000 usd
CY2023 us-gaap Investment Income Interest
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365000000 usd
CY2022 us-gaap Investment Income Interest
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CY2021 us-gaap Investment Income Interest
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CY2023 us-gaap Interest Expense
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CY2022 us-gaap Interest Expense
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CY2021 us-gaap Interest Expense
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2023 us-gaap Equity Securities Fv Ni Gain Loss
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340000000 usd
CY2022 us-gaap Equity Securities Fv Ni Gain Loss
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-1419000000 usd
CY2021 us-gaap Equity Securities Fv Ni Gain Loss
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1940000000 usd
CY2023 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2022 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2021 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2023 mrk Other Nonoperating Income Expense Other
OtherNonoperatingIncomeExpenseOther
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CY2022 mrk Other Nonoperating Income Expense Other
OtherNonoperatingIncomeExpenseOther
681000000 usd
CY2021 mrk Other Nonoperating Income Expense Other
OtherNonoperatingIncomeExpenseOther
256000000 usd
CY2023 us-gaap Other Nonoperating Income Expense
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CY2022 us-gaap Other Nonoperating Income Expense
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CY2021 us-gaap Other Nonoperating Income Expense
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CY2023 us-gaap Interest Paid Net
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CY2022 us-gaap Interest Paid Net
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937000000 usd
CY2021 us-gaap Interest Paid Net
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
397000000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3453000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2915000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 mrk Income Tax Rate Reconciliation Asset Acquisition Three Amount
IncomeTaxRateReconciliationAssetAcquisitionThreeAmount
2139000000 usd
CY2023 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Three Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionThreePercent
1.133
CY2022 mrk Income Tax Rate Reconciliation Asset Acquisition Three Amount
IncomeTaxRateReconciliationAssetAcquisitionThreeAmount
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CY2022 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Three Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionThreePercent
0
CY2021 mrk Income Tax Rate Reconciliation Asset Acquisition Three Amount
IncomeTaxRateReconciliationAssetAcquisitionThreeAmount
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CY2021 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Three Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionThreePercent
0
CY2023 mrk Income Tax Rate Reconciliation Asset Acquisition Two Amount
IncomeTaxRateReconciliationAssetAcquisitionTwoAmount
253000000 usd
CY2023 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Two Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionTwoPercent
0.134
CY2022 mrk Income Tax Rate Reconciliation Asset Acquisition Two Amount
IncomeTaxRateReconciliationAssetAcquisitionTwoAmount
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CY2022 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Two Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionTwoPercent
0
CY2021 mrk Income Tax Rate Reconciliation Asset Acquisition Two Amount
IncomeTaxRateReconciliationAssetAcquisitionTwoAmount
0 usd
CY2021 mrk Effective Income Tax Rate Reconciliation Asset Acquisition Two Percent
EffectiveIncomeTaxRateReconciliationAssetAcquisitionTwoPercent
0
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
70000000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.037
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
108000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.007
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
102000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2023 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Amount
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationAmount
42000000 usd
CY2023 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Percent
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationPercent
0.022
CY2022 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Amount
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationAmount
-3000000 usd
CY2022 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Percent
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationPercent
0
CY2021 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Amount
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationAmount
8000000 usd
CY2021 mrk Effective Income Tax Rate Reconciliation Acquisition Related Costs And Amortization Percent
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCostsAndAmortizationPercent
0.001
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
41000000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges
0.022
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
11000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges
0.001
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
61000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges
0.004
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.498
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.111
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1456000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.105
CY2023 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Amount
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionAmount
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CY2023 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionPercent
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CY2022 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Amount
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionAmount
462000000 usd
CY2022 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionPercent
0.028
CY2021 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Amount
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionAmount
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CY2021 mrk Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Foreign Derived Intangible Income Deduction Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeForeignDerivedIntangibleIncomeDeductionPercent
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CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
214000000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
117000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
113000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-110000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
218000000 usd
CY2023 us-gaap Revenues
Revenues
60115000000 usd
CY2022 us-gaap Revenues
Revenues
59283000000 usd
CY2021 us-gaap Revenues
Revenues
48704000000 usd
CY2023 us-gaap Restructuring Charges
RestructuringCharges
599000000 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
337000000 usd
CY2021 us-gaap Restructuring Charges
RestructuringCharges
661000000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1889000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16444000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13879000000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23051000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21422000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19279000000 usd
CY2023 dei Auditor Name
AuditorName
PricewaterhouseCoopers LLP
CY2023 dei Auditor Location
AuditorLocation
Florham Park, New Jersey
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023 dei Auditor Firm
AuditorFirmId
238

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