$UTHR
UNITED THERAPEUTICS Corp

2020 Q2 Form 10-Q Financial Statement

#000108255420000010 Filed on July 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $362.0M $373.6M $362.6M
YoY Change -3.1% -15.95% -6.83%
Cost Of Revenue $25.90M $26.70M $29.10M
YoY Change -3.0% -56.73% -45.3%
Gross Profit $336.1M $346.9M $333.5M
YoY Change -3.11% -9.38% -0.74%
Gross Profit Margin 92.85% 92.85% 91.97%
Selling, General & Admin $105.9M $39.60M $92.00M
YoY Change 167.42% -52.35% -1493.94%
% of Gross Profit 31.51% 11.42% 27.59%
Research & Development $89.70M $85.90M $897.4M
YoY Change 4.42% 4.37% 2413.73%
% of Gross Profit 26.69% 24.76% 269.09%
Depreciation & Amortization $12.60M $10.40M $10.30M
YoY Change 21.15% 28.4% 30.38%
% of Gross Profit 3.75% 3.0% 3.09%
Operating Expenses $89.70M $85.90M $897.4M
YoY Change 4.42% 4.37% 2983.85%
Operating Profit $140.5M $221.4M -$655.9M
YoY Change -36.54% 1.84% -313.72%
Interest Expense $5.600M $12.20M $10.30M
YoY Change -54.1% 320.69% -496.15%
% of Operating Profit 3.99% 5.51%
Other Income/Expense, Net -$6.600M $29.00M $5.300M
YoY Change -122.76% 5700.0% 12.77%
Pretax Income $133.9M $250.4M -$650.6M
YoY Change -46.53% 14.92% -310.55%
Income Tax $26.80M $45.30M -$156.0M
% Of Pretax Income 20.01% 18.09%
Net Earnings $107.1M $205.1M -$494.6M
YoY Change -47.78% 18.62% -302.29%
Net Earnings / Revenue 29.59% 54.9% -136.4%
Basic Earnings Per Share $2.43 $4.68 -$11.32
Diluted Earnings Per Share $2.41 $4.66 -$11.32
COMMON SHARES
Basic Shares Outstanding 44.10M shares 43.80M shares 43.70M
Diluted Shares Outstanding 44.40M shares 44.00M shares 43.70M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.561B $1.786B $1.605B
YoY Change -12.62% 47.25% 27.71%
Cash & Equivalents $685.4M $881.3M $790.6M
Short-Term Investments $875.3M $904.9M $814.5M
Other Short-Term Assets $72.00M $75.70M $81.40M
YoY Change -4.89% 32.34% 26.79%
Inventory $89.70M $96.90M $96.20M
Prepaid Expenses
Receivables $172.0M $181.0M $159.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.894B $2.140B $1.943B
YoY Change -11.47% 31.74% 18.91%
LONG-TERM ASSETS
Property, Plant & Equipment $744.2M $709.3M $708.3M
YoY Change 4.92% 13.29% 22.65%
Goodwill $28.00M $31.50M
YoY Change -11.11%
Intangibles
YoY Change
Long-Term Investments $1.009B $420.7M $411.3M
YoY Change 139.93% -27.25% -0.84%
Other Assets $167.4M $202.9M $493.8M
YoY Change -17.5% -45.27% 41.61%
Total Long-Term Assets $2.325B $1.759B $1.784B
YoY Change 32.17% 8.54% 28.67%
TOTAL ASSETS
Total Short-Term Assets $1.894B $2.140B $1.943B
Total Long-Term Assets $2.325B $1.759B $1.784B
Total Assets $4.219B $3.899B $3.727B
YoY Change 8.22% 20.15% 23.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $152.6M $163.9M $139.4M
YoY Change -6.89% -24.12% -31.47%
Accrued Expenses $2.900M $3.400M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $250.0M
YoY Change -100.0%
Total Short-Term Liabilities $255.0M $463.5M $270.0M
YoY Change -44.98% 32.43% -15.2%
LONG-TERM LIABILITIES
Long-Term Debt $800.0M $800.0M $1.050B
YoY Change 0.0% 220.0% 320.0%
Other Long-Term Liabilities $70.70M $68.60M $68.50M
YoY Change 3.06% 14.14% 8.39%
Total Long-Term Liabilities $70.70M $68.60M $1.119B
YoY Change 3.06% -77.88% 257.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $255.0M $463.5M $270.0M
Total Long-Term Liabilities $70.70M $68.60M $1.119B
Total Liabilities $1.126B $1.332B $1.389B
YoY Change -15.49% 101.8% 119.84%
SHAREHOLDERS EQUITY
Retained Earnings $3.569B $3.140B
YoY Change 13.66%
Common Stock $2.106B $2.002B
YoY Change 5.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.094B $2.558B $2.319B
YoY Change
Total Liabilities & Shareholders Equity $4.219B $3.899B $3.727B
YoY Change 8.22% 20.15% 23.39%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $107.1M $205.1M -$494.6M
YoY Change -47.78% 18.62% -302.29%
Depreciation, Depletion And Amortization $12.60M $10.40M $10.30M
YoY Change 21.15% 28.4% 30.38%
Cash From Operating Activities $164.0M $132.9M -$627.4M
YoY Change 23.4% -26.08% -327.57%
INVESTING ACTIVITIES
Capital Expenditures -$18.20M -$20.30M $25.10M
YoY Change -10.34% -62.06% -166.76%
Acquisitions
YoY Change
Other Investing Activities -$357.2M -$22.30M -$35.20M
YoY Change 1501.79% -92.72% 66.82%
Cash From Investing Activities -$375.4M -$42.60M -$60.30M
YoY Change 781.22% -88.16% 2.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.60M 400.0K 809.1M
YoY Change 5300.0% -105.88% 7533.02%
NET CHANGE
Cash From Operating Activities 164.0M 132.9M -627.4M
Cash From Investing Activities -375.4M -42.60M -60.30M
Cash From Financing Activities 21.60M 400.0K 809.1M
Net Change In Cash -189.8M 90.70M 121.4M
YoY Change -309.26% -148.55% -46.66%
FREE CASH FLOW
Cash From Operating Activities $164.0M $132.9M -$627.4M
Capital Expenditures -$18.20M -$20.30M $25.10M
Free Cash Flow $182.2M $153.2M -$652.5M
YoY Change 18.93% -34.33% -308.27%

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Organization and Business Description<div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the unmet medical needs of patients with chronic and life-threatening conditions.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have approval from the U.S. Food and Drug Administration (FDA) to market the following therapies: Remodulin</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> (treprostinil) Injection (Remodulin), Tyvaso</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> (treprostinil) Inhalation Solution (Tyvaso), Orenitram</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> (treprostinil) Extended-Release Tablets (Orenitram), Unituxin</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> (dinutuximab) Injection (Unituxin), and Adcirca</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> (tadalafil) Tablets (Adcirca). Our only significant revenues outside the United States are derived from sales of Remodulin in Europe. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As used in these notes to our consolidated financial statements, unless the context otherwise requires, the terms “we”, “us”, “our”, and similar terms refer to United Therapeutics Corporation and its consolidated subsidiaries.</span></div>
us-gaap Basis Of Accounting
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Basis of Presentation<div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (GAAP) for complete financial statements. These consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the accompanying notes to our consolidated financial statements contained in our Annual Report on Form 10-K for the year ended </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, as filed with the SEC on February 26, 2020. </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In our management’s opinion, the accompanying consolidated financial statements contain all adjustments, including normal, recurring adjustments, necessary to fairly present our financial position as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, our statements of operations, comprehensive income, and stockholders’ equity for the three- and six-month periods ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and statements of cash flows for the six-month periods ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">. Interim results are not necessarily indicative of results for an entire year.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recently Issued Accounting Standards </span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting Standards Adopted During the Period</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU No. 2016-13, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="font-family:inherit;font-size:10pt;"> (ASU 2016-13), which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. We adopted this standard on January 1, 2020 using the modified retrospective method for financial assets measured at amortized cost, including our net investment in a sales-type lease, financing receivables, and trade receivables. Upon adoption of the new standard, we recorded an allowance for credit losses of </span><span style="font-family:inherit;font-size:10pt;"><span>$1.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> related to our net investment in a lease using an estimated default rate for the lessee over the lease term. The cumulative-effect adjustment resulted in a decrease to retained earnings of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, which is net of a tax benefit. During the first quarter of 2020, we recognized an impairment charge of </span><span style="font-family:inherit;font-size:10pt;"><span>$1.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> on a note receivable due to the expected loss from future payments as a result of economic uncertainty arising from the negative effects which the COVID-19 pandemic has had on the global economy and financial markets. We did not recognize any further impairment of this note receivable during the second quarter of 2020. We recorded this impairment charge within “other (expense) income, net” on our consolidated statements of operations.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU No. 2017-04, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment</span><span style="font-family:inherit;font-size:10pt;"> (ASU 2017-04), which simplifies how an entity is required to test goodwill for impairment. ASU 2017-04 requires that a goodwill impairment be measured by the amount by which a reporting unit’s carrying value exceeds its fair value, with the amount of impairment not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for goodwill impairment tests in fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years, and must be adopted on a prospective basis. We adopted the new standard on January 1, 2020, with no material impact on our financial statements.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">In August 2018, the FASB issued ASU No. 2018-13, </span><span style="font-family:inherit;font-size:10pt;color:#212529;font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> (ASU 2018-13), which eliminates, adds, and modifies certain disclosure requirements for fair value measurements. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019. We adopted the new standard on January 1, 2020, with no material impact on our financial statements.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting Standards Not Yet Adopted</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU No. 2018-14, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans </span><span style="font-family:inherit;font-size:10pt;">(ASU 2018-14). The standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. ASU 2018-14 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In December 2019, the FASB issued ASU 2019-12, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Accounting for Income Taxes </span><span style="font-family:inherit;font-size:10pt;">(ASU 2019-12)</span><span style="font-family:inherit;font-size:10pt;font-style:italic;">,</span><span style="font-family:inherit;font-size:10pt;"> which simplifies the accounting for income taxes by removing certain exceptions to the general principles of Topic 740, Income Taxes, and also improves consistency of application by clarifying and amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We are currently evaluating the impact of this guidance on our financial statements.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In January 2020, the FASB issued ASU 2020-01, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force)</span><span style="font-family:inherit;font-size:10pt;">, which addresses the accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. ASU 2020-01 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements.</span></div>
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
19100000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1852800000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1852800000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1447600000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4600000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
200000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1452000000.0 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1452000000.0 USD
CY2019Q4 us-gaap Goodwill
Goodwill
28000000.0 USD
CY2020Q2 uthr Goodwill And Other Intangibles Assets Gross
GoodwillAndOtherIntangiblesAssetsGross
163600000 USD
CY2020Q2 uthr Contractual Maturities Of Available For Sale Debt Securities Amortized Cost Basis
ContractualMaturitiesOfAvailableForSaleDebtSecuritiesAmortizedCostBasis
1833800000 USD
CY2020Q2 uthr Contractual Maturities Of Available For Sale Securities Debt Securities
ContractualMaturitiesOfAvailableForSaleSecuritiesDebtSecurities
1852800000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
683300000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
684500000 USD
CY2019Q4 uthr Available For Sale Securities Debt Maturities Rolling Year One Through Three Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughThreeAmortizedCostBasis
764300000 USD
CY2019Q4 uthr Available For Sale Securities Debt Maturities Rolling Year One Through Year Three Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughYearThreeFairValue
767500000 USD
CY2019Q4 uthr Contractual Maturities Of Available For Sale Debt Securities Amortized Cost Basis
ContractualMaturitiesOfAvailableForSaleDebtSecuritiesAmortizedCostBasis
1447600000 USD
CY2020Q2 uthr Available For Sale Securities Debt Maturities Rolling Year One Through Three Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughThreeAmortizedCostBasis
995200000 USD
CY2020Q2 uthr Available For Sale Securities Debt Maturities Rolling Year One Through Year Three Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughYearThreeFairValue
1009400000 USD
CY2019Q4 uthr Contractual Maturities Of Available For Sale Securities Debt Securities
ContractualMaturitiesOfAvailableForSaleSecuritiesDebtSecurities
1452000000.0 USD
CY2020Q1 uthr Impairment Of Investments In Privately Held Companies
ImpairmentOfInvestmentsInPrivatelyHeldCompanies
5600000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
18900000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
21100000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
27900000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
29100000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
42900000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
43200000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
89700000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
93400000 USD
CY2020Q2 us-gaap Goodwill Gross
GoodwillGross
28000000.0 USD
CY2020Q2 us-gaap Goodwill
Goodwill
28000000.0 USD
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
28000000.0 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5300000 USD
CY2019Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
158300000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5400000 USD
CY2020Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
158200000 USD
CY2019Q4 uthr Goodwill And Other Intangibles Assets Gross
GoodwillAndOtherIntangiblesAssetsGross
163600000 USD
CY2020Q2 uthr Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2 plan
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
51800000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-37200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
82600000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-8000000.0 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
107100000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
205100000 USD
us-gaap Net Income Loss
NetIncomeLoss
244800000 USD
us-gaap Net Income Loss
NetIncomeLoss
-289500000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44100000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43800000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
300000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
300000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44400000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43800000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.43
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.61
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.41
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.53
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.61
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7200000 shares
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7900000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6600000 shares
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.20
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.28
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
362000000.0 USD
CY2020Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
25900000 USD
CY2020Q2 uthr Gross Profit Excluding Other Revenue
GrossProfitExcludingOtherRevenue
336100000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
373600000 USD
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26700000 USD
CY2019Q2 uthr Gross Profit Excluding Other Revenue
GrossProfitExcludingOtherRevenue
346900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
718300000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
49300000 USD
uthr Gross Profit Excluding Other Revenue
GrossProfitExcludingOtherRevenue
669000000.0 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
736200000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
55800000 USD
uthr Gross Profit Excluding Other Revenue
GrossProfitExcludingOtherRevenue
680400000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
362000000.0 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
373600000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
718300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
736200000 USD
uthr Number Of Distributors
NumberOfDistributors
2 distributor
uthr Number Of Distributors
NumberOfDistributors
2 distributor

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