$OGN
Organon & Co.

2023 Q3 Form 10-Q Financial Statement

#000182182523000010 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $1.519B $1.608B $1.585B
YoY Change -1.17% 1.45% -0.63%
Cost Of Revenue $612.0M $640.0M $588.0M
YoY Change 11.07% 8.84% 0.86%
Gross Profit $907.0M $968.0M $997.0M
YoY Change -8.01% -2.91% -1.48%
Gross Profit Margin 59.71% 60.2% 62.9%
Selling, General & Admin $538.0M $451.0M $423.0M
YoY Change 22.27% 6.62% 1.68%
% of Gross Profit 59.32% 46.59% 42.43%
Research & Development $137.0M $128.0M $106.0M
YoY Change 7.87% 20.75% 39.47%
% of Gross Profit 15.1% 13.22% 10.63%
Depreciation & Amortization $61.00M $58.00M $50.00M
YoY Change 7.02% 16.0% 16.28%
% of Gross Profit 6.73% 5.99% 5.02%
Operating Expenses $675.0M $579.0M $529.0M
YoY Change 19.05% 9.45% 7.52%
Operating Profit $232.0M $389.0M $468.0M
YoY Change -44.63% -16.88% -10.0%
Interest Expense $134.0M $132.0M $98.00M
YoY Change 24.07% 34.69% 58.06%
% of Operating Profit 57.76% 33.93% 20.94%
Other Income/Expense, Net
YoY Change
Pretax Income $80.00M $254.0M $287.0M
YoY Change -71.63% -11.5% -34.32%
Income Tax $22.00M $12.00M $53.00M
% Of Pretax Income 27.5% 4.72% 18.47%
Net Earnings $58.00M $242.0M $234.0M
YoY Change -74.45% 3.42% -45.2%
Net Earnings / Revenue 3.82% 15.05% 14.76%
Basic Earnings Per Share $0.23 $0.95 $0.92
Diluted Earnings Per Share $0.23 $0.95 $0.92
COMMON SHARES
Basic Shares Outstanding 255.6M shares 255.1M shares 254.0M shares
Diluted Shares Outstanding 256.3M shares 256.0M shares 255.2M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $414.0M $326.0M $545.0M
YoY Change -17.03% -40.18% -25.34%
Cash & Equivalents $414.0M $326.0M $545.0M
Short-Term Investments
Other Short-Term Assets $802.0M $761.0M $789.0M
YoY Change 3.62% -3.55% -1.74%
Inventory $1.186B $1.199B $950.0M
Prepaid Expenses
Receivables $1.648B $1.672B $1.490B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.050B $3.958B $3.774B
YoY Change 12.75% 4.88% -3.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.096B $1.110B $952.0M
YoY Change 20.97% 16.6% -2.46%
Goodwill $4.603B $4.603B $4.603B
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $702.0M $716.0M $647.0M
YoY Change 5.41% 10.66% 56.28%
Total Long-Term Assets $6.962B $7.021B $6.840B
YoY Change 1.71% 2.65% -2.24%
TOTAL ASSETS
Total Short-Term Assets $4.050B $3.958B $3.774B
Total Long-Term Assets $6.962B $7.021B $6.840B
Total Assets $11.01B $10.98B $10.61B
YoY Change 5.51% 3.44% -2.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.067B $1.115B $1.130B
YoY Change 3.79% -1.33% -37.64%
Accrued Expenses $1.255B $1.101B $1.046B
YoY Change 16.74% 5.26% 15.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.000M $8.000M $9.000M
YoY Change 0.0% -11.11% -76.92%
Total Short-Term Liabilities $2.491B $2.387B $2.396B
YoY Change 7.0% -0.38% -19.46%
LONG-TERM LIABILITIES
Long-Term Debt $8.646B $8.722B $8.884B
YoY Change -0.52% -1.82% -4.57%
Other Long-Term Liabilities $421.0M $393.0M $448.0M
YoY Change -4.54% -12.28% -8.01%
Total Long-Term Liabilities $9.067B $9.115B $9.332B
YoY Change -0.71% -2.33% -4.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.491B $2.387B $2.396B
Total Long-Term Liabilities $9.067B $9.115B $9.332B
Total Liabilities $11.60B $11.53B $11.73B
YoY Change 1.23% -1.65% -8.17%
SHAREHOLDERS EQUITY
Retained Earnings -$16.00M -$25.00M -$551.0M
YoY Change -95.82% -95.46% -62.59%
Common Stock $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$589.0M -$555.0M -$1.137B
YoY Change
Total Liabilities & Shareholders Equity $11.01B $10.98B $10.61B
YoY Change 5.51% 3.44% -2.7%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $58.00M $242.0M $234.0M
YoY Change -74.45% 3.42% -45.2%
Depreciation, Depletion And Amortization $61.00M $58.00M $50.00M
YoY Change 7.02% 16.0% 16.28%
Cash From Operating Activities $261.0M $27.00M $151.0M
YoY Change -17.67% -82.12% -71.99%
INVESTING ACTIVITIES
Capital Expenditures $55.00M $71.00M -$45.00M
YoY Change -134.38% -257.78% -23.73%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M -$38.00M
YoY Change -100.0% -102.63% -80.0%
Cash From Investing Activities -$55.00M -$70.00M -$83.00M
YoY Change -74.18% -15.66% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.00M -88.00M -183.0M
YoY Change 1.3% -51.91% -178.54%
NET CHANGE
Cash From Operating Activities 261.0M 27.00M 151.0M
Cash From Investing Activities -55.00M -70.00M -83.00M
Cash From Financing Activities -78.00M -88.00M -183.0M
Net Change In Cash 128.0M -131.0M -115.0M
YoY Change 374.07% 13.91% -121.99%
FREE CASH FLOW
Cash From Operating Activities $261.0M $27.00M $151.0M
Capital Expenditures $55.00M $71.00M -$45.00M
Free Cash Flow $206.0M -$44.00M $196.0M
YoY Change -56.81% -122.45% -67.22%

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