$OGN
Organon & Co.

2023 Q2 Form 10-Q Financial Statement

#000182182523000006 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.608B $1.538B
YoY Change 1.45% -1.85%
Cost Of Revenue $640.0M $580.0M
YoY Change 8.84% 3.39%
Gross Profit $968.0M $958.0M
YoY Change -2.91% -4.77%
Gross Profit Margin 60.2% 62.29%
Selling, General & Admin $451.0M $435.0M
YoY Change 6.62% 17.25%
% of Gross Profit 46.59% 45.41%
Research & Development $128.0M $129.0M
YoY Change 20.75% 34.38%
% of Gross Profit 13.22% 13.47%
Depreciation & Amortization $58.00M $28.00M
YoY Change 16.0% 12.0%
% of Gross Profit 5.99% 2.92%
Operating Expenses $579.0M $564.0M
YoY Change 9.45% 20.77%
Operating Profit $389.0M $394.0M
YoY Change -16.88% -26.9%
Interest Expense $132.0M $132.0M
YoY Change 34.69% 36.08%
% of Operating Profit 33.93% 33.5%
Other Income/Expense, Net
YoY Change
Pretax Income $254.0M $235.0M
YoY Change -11.5% -46.83%
Income Tax $12.00M $58.00M
% Of Pretax Income 4.72% 24.68%
Net Earnings $242.0M $177.0M
YoY Change 3.42% -49.14%
Net Earnings / Revenue 15.05% 11.51%
Basic Earnings Per Share $0.95 $0.70
Diluted Earnings Per Share $0.95 $0.69
COMMON SHARES
Basic Shares Outstanding 255.1M shares 254.4M shares
Diluted Shares Outstanding 256.0M shares 256.2M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $326.0M $459.0M
YoY Change -40.18% -33.86%
Cash & Equivalents $326.0M $459.0M
Short-Term Investments
Other Short-Term Assets $761.0M $755.0M
YoY Change -3.55% -0.26%
Inventory $1.199B $1.121B
Prepaid Expenses
Receivables $1.672B $1.445B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.958B $3.780B
YoY Change 4.88% 1.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.110B $1.055B
YoY Change 16.6% 8.76%
Goodwill $4.603B $4.603B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $716.0M $704.0M
YoY Change 10.66% 10.0%
Total Long-Term Assets $7.021B $6.983B
YoY Change 2.65% 1.53%
TOTAL ASSETS
Total Short-Term Assets $3.958B $3.780B
Total Long-Term Assets $7.021B $6.983B
Total Assets $10.98B $10.76B
YoY Change 3.44% 1.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.115B $996.0M
YoY Change -1.33% -7.86%
Accrued Expenses $1.101B $1.150B
YoY Change 5.26% 13.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.000M $8.000M
YoY Change -11.11% -11.11%
Total Short-Term Liabilities $2.387B $2.346B
YoY Change -0.38% 1.73%
LONG-TERM LIABILITIES
Long-Term Debt $8.722B $8.703B
YoY Change -1.82% -4.2%
Other Long-Term Liabilities $393.0M $421.0M
YoY Change -12.28% -7.27%
Total Long-Term Liabilities $9.115B $9.124B
YoY Change -2.33% -4.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.387B $2.346B
Total Long-Term Liabilities $9.115B $9.124B
Total Liabilities $11.53B $11.47B
YoY Change -1.65% -3.17%
SHAREHOLDERS EQUITY
Retained Earnings -$25.00M -$206.0M
YoY Change -95.46% -71.55%
Common Stock $3.000M $3.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$555.0M -$737.0M
YoY Change
Total Liabilities & Shareholders Equity $10.98B $10.76B
YoY Change 3.44% 1.57%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $242.0M $177.0M
YoY Change 3.42% -49.14%
Depreciation, Depletion And Amortization $58.00M $28.00M
YoY Change 16.0% 12.0%
Cash From Operating Activities $27.00M $114.0M
YoY Change -82.12% -7.32%
INVESTING ACTIVITIES
Capital Expenditures $71.00M $46.00M
YoY Change -257.78% 39.39%
Acquisitions
YoY Change
Other Investing Activities $1.000M $0.00
YoY Change -102.63% -100.0%
Cash From Investing Activities -$70.00M -$54.00M
YoY Change -15.66% -14.29%
FINANCING ACTIVITIES
Cash Dividend Paid $73.00M
YoY Change 2.82%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $252.0M
YoY Change 12500.0%
Cash From Financing Activities -88.00M -$326.0M
YoY Change -51.91% 258.24%
NET CHANGE
Cash From Operating Activities 27.00M $114.0M
Cash From Investing Activities -70.00M -$54.00M
Cash From Financing Activities -88.00M -$326.0M
Net Change In Cash -131.0M -$247.0M
YoY Change 13.91% 474.42%
FREE CASH FLOW
Cash From Operating Activities $27.00M $114.0M
Capital Expenditures $71.00M $46.00M
Free Cash Flow -$44.00M $68.00M
YoY Change -122.45% -24.44%

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CY2023Q1 us-gaap Repayments Of Long Term Debt
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CY2022Q1 ogn Net Financing Transfers
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CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023Q1 us-gaap Payments Of Dividends
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CY2022Q1 us-gaap Payments Of Dividends
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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19000000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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459000000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Nature Of Operations
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Background and Nature of Operations<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Organon &amp; Co. ("Organon" or the "Company") is a global health care company with a focus on improving the health of women throughout their lives. Organon develops and delivers innovative health solutions through a portfolio of prescription therapies and medical devices within women's health, biosimilars and established brands (the "Organon Products"). Organon has a portfolio of more than 60 medicines and products across a range of therapeutic areas. The Company sells these products through various channels including drug wholesalers and retailers, hospitals, government agencies and managed health care providers such as health maintenance organizations, pharmacy benefit managers and other institutions. The Company operates six manufacturing facilities, which are located in Belgium, Brazil, Indonesia, Mexico, the Netherlands and the United Kingdom. Unless otherwise indicated, trademarks appearing in italics throughout this document are trademarks of, or are used under license by, the Organon group of companies.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's operations include the following product portfolios:</span></div><div style="text-align:justify;text-indent:45pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%;padding-left:14.5pt">Women's Health</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">: Organon's women's health products are sold by prescription primarily in two therapeutic areas, contraception, with key brands such as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Nexplanon®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (etonogestrel implant) (sold as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Implanon NXT</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">™ in some countries outside the United States) and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">NuvaRing® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(etonogestrel / ethinyl estradiol vaginal ring), and fertility, with key brands such as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Follistim AQ®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (follitropin beta injection) (marketed in most countries outside the United States as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Puregon</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">™). </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Nexplanon</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">® is a long-acting reversible contraceptive, which is a class of contraceptives that is recognized as one of the most effective types of hormonal contraception available to patients with a low long-term average cost. Other women’s health products include the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Jada</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">® System, which is intended to provide control and treatment of abnormal postpartum uterine bleeding or hemorrhage when conservative management is warranted and a license from Daré Biosciences for the global commercial rights to </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Xaciato</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">™ (clindamycin phosphate vaginal gel, 2%), an FDA-approved medication for the treatment of bacterial vaginosis ("BV") in females 12 years of age and older.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Biosimilars</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Organon's current portfolio spans across immunology and oncology treatments. Organon's oncology biosimilars have been launched in more than 20 countries and Organon's immunology biosimilars have been launched in five countries. All five biosimilars in Organon's portfolio have launched in Canada, and two biosimilars;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Ontruzant® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(trastuzumab-dttb)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Renflexis® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(infliximab-abda)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">have been launched in the United States. </span></div><div><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Established Brands</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Organon has a portfolio of established brands, which generally are beyond market exclusivity, including leading brands in cardiovascular, respiratory, dermatology and non-opioid pain management. A number of Organon's established brands lost exclusivity years ago and have faced generic competition for some time.</span></div>
CY2023Q1 ogn Number Of Medicines And Products
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60 segment
CY2023Q1 ogn Number Of Manufacturing Facilities
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6 manufacturingfacility
CY2023Q1 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for complete consolidated financial statements are not included herein. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. In the Company's opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. All intercompany transactions and accounts within Organon have been eliminated. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in Organon's Annual Report on Form 10-K for the year ended December 31, 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:45pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The presentation of these Condensed Consolidated Financial Statements and accompanying notes in conformity with U.S. GAAP require management to make estimates and assumptions that affect the amounts reported, as further described in our Form 10-K for the year ended December 31, 2022. Accordingly, actual results could differ materially from management's estimates and assumptions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to experience uncertainty relative to the duration and overall impact of COVID-19, specifically, in the Company's operations in China. The future operating performance in that region, particularly in the short-term, may be subject to volatility. The assessment of certain accounting matters and specifically its effect on the Company's results require consideration of forecasted financial information in the context of the information reasonably available to the Company and the future impacts of COVID-19 on the Company's operations in China as of March 31, 2023 and through the date of this report which are difficult to predict.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Recently Adopted Accounting Standards </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2021, the FASB issued ASU 2021-08, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, guidance to improve the accounting for contract assets and contract liabilities from acquired revenue contracts with customers in a business combination. The guidance addresses diversity in practice and inconsistency related to the recognition of an acquired contract liability, payment terms and their effect on subsequent revenue recognized by an acquirer. The guidance became effective for the Company on January 1, 2023 and its amendments will be applied prospectively to business combinations occurring on or after the effective date of the guidance. The adoption of this guidance did not have an impact on the Company's Consolidated Financial Statements for prior acquisitions; however, the impact in future periods will be dependent upon the contract assets and contract liabilities acquired in future business combinations.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Recently Issued Accounting Standards Not Yet Adopted</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summarizes recent Accounting Standards Updates ("ASUs") issued by the FASB that could have a material impact on our consolidated financial statements.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In March 2020, the FASB issued ASU 2020-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting and subsequently issued clarifying amendments. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform. The optional guidance is effective upon issuance and can be applied on a prospective basis at any time between January 1, 2020 and December 31, 2022, the sunset date was subsequently deferred to December 31, 2024 based on the amendment issued in December 2022 under ASU 2022-06, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Reference Rate Reform (Topic 848)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">. The Company is still evaluating the impact to its LIBOR-based debt. Based on the evaluation thus far, the Company does not anticipate a material impact to the Consolidated Financial Statements as a result of reference rate reform.</span></div>
CY2023Q1 us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:45pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The presentation of these Condensed Consolidated Financial Statements and accompanying notes in conformity with U.S. GAAP require management to make estimates and assumptions that affect the amounts reported, as further described in our Form 10-K for the year ended December 31, 2022. Accordingly, actual results could differ materially from management's estimates and assumptions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to experience uncertainty relative to the duration and overall impact of COVID-19, specifically, in the Company's operations in China. The future operating performance in that region, particularly in the short-term, may be subject to volatility. The assessment of certain accounting matters and specifically its effect on the Company's results require consideration of forecasted financial information in the context of the information reasonably available to the Company and the future impacts of COVID-19 on the Company's operations in China as of March 31, 2023 and through the date of this report which are difficult to predict.</span></div>
CY2023Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
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CY2023Q1 us-gaap Payments For Restructuring
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CY2023Q1 us-gaap Restructuring Charges
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CY2023Q1 us-gaap Restructuring Reserve
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CY2022Q4 us-gaap Restructuring Reserve
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CY2022Q4 us-gaap Inventory Finished Goods
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CY2023Q1 us-gaap Inventory Raw Materials
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CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q1 us-gaap Inventory Finished Goods
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CY2022Q4 us-gaap Inventory Raw Materials
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CY2023Q1 us-gaap Inventory Work In Process
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CY2022Q4 us-gaap Inventory Work In Process
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CY2023Q1 us-gaap Other Inventory Supplies
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CY2022Q4 us-gaap Other Inventory Supplies
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CY2023Q1 us-gaap Inventory Gross
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CY2022Q4 us-gaap Inventory Gross
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CY2023Q1 us-gaap Inventory Lifo Reserve
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CY2022Q4 us-gaap Inventory Lifo Reserve
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CY2023Q1 ogn Inventory Net And Inventory Noncurrent
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CY2022Q4 ogn Inventory Net And Inventory Noncurrent
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CY2023Q1 us-gaap Inventory Net
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CY2022Q4 us-gaap Inventory Net
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CY2023Q1 us-gaap Inventory Noncurrent
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CY2022Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
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CY2023Q1 us-gaap Lifo Inventory Amount
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CY2023Q1 ogn Debt Instrument Interest Payments
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65000000 usd
CY2022Q4 us-gaap Lifo Inventory Amount
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CY2023Q1 ogn Derivative Gain Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
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Foreign currency (losses) gains in Other comprehensive income
CY2022Q1 ogn Derivative Gain Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
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CY2023Q1 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized
68000000 usd
CY2022Q4 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
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43000000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
97000000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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CY2023Q1 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q1 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Current
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CY2023Q1 us-gaap Long Term Debt Noncurrent
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CY2022Q4 us-gaap Long Term Debt Noncurrent
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CY2023Q1 us-gaap Long Term Debt Fair Value
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CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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CY2023Q1 ogn Debt Instrument Average Maturity
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P5Y8M12D
CY2023Q1 us-gaap Long Term Debt Weighted Average Interest Rate Over Time
LongTermDebtWeightedAverageInterestRateOverTime
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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
9000000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2022Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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CY2022Q1 us-gaap Other Comprehensive Income Loss Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
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CY2023Q1 us-gaap Other Comprehensive Income Loss Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2021Q2 ogn Separation And Distribution Agreement Provision Of Services Period
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P25M
CY2021Q2 ogn Separation And Distribution Agreement Provision Of Services Extension Period
SeparationAndDistributionAgreementProvisionOfServicesExtensionPeriod
P35M
CY2023Q1 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
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CY2022Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
374000000 usd
CY2023Q1 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
521000000 usd
CY2022Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
543000000 usd
CY2023Q1 us-gaap Litigation Reserve
LitigationReserve
22000000 usd
CY2022Q4 us-gaap Litigation Reserve
LitigationReserve
17000000 usd

Files In Submission

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0001821825-23-000006-index-headers.html Edgar Link pending
0001821825-23-000006-index.html Edgar Link pending
0001821825-23-000006.txt Edgar Link pending
0001821825-23-000006-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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ogn-20230331.htm Edgar Link pending
ogn-20230331.xsd Edgar Link pending
ogn03312023-exhibit311.htm Edgar Link pending
ogn03312023-exhibit312.htm Edgar Link pending
ogn03312023-exhibit321.htm Edgar Link pending
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ogn-20230331_cal.xml Edgar Link unprocessable