2024 Q1 Form 10-K Financial Statement

#000108255424000005 Filed on February 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $677.7M $614.7M $2.328B
YoY Change 33.7% 25.07% 20.2%
Cost Of Revenue $72.90M $71.00M $257.5M
YoY Change 39.39% 20.75% 69.85%
Gross Profit $604.8M $543.7M $2.070B
YoY Change 33.04% 25.65% 15.99%
Gross Profit Margin 89.24% 88.45% 88.94%
Selling, General & Admin $144.4M $128.6M $477.1M
YoY Change 65.41% -15.39% 1.32%
% of Gross Profit 23.88% 23.65% 23.05%
Research & Development $104.1M $151.4M $408.0M
YoY Change 25.57% 61.24% 26.35%
% of Gross Profit 17.21% 27.85% 19.71%
Depreciation & Amortization $15.00M $13.70M $53.20M
YoY Change 12.78% 3.79% 3.7%
% of Gross Profit 2.48% 2.52% 2.57%
Operating Expenses $248.5M $280.0M $885.1M
YoY Change 46.0% 13.87% 174.11%
Operating Profit $356.3M $263.7M $1.185B
YoY Change 25.28% 41.17% 20.95%
Interest Expense $13.30M $33.90M $59.30M
YoY Change -3.62% 1256.0% 83.02%
% of Operating Profit 3.73% 12.86% 5.0%
Other Income/Expense, Net $42.30M $1.400M $89.40M
YoY Change 464.0% 100.0% -407.22%
Pretax Income $398.6M $295.4M $1.274B
YoY Change 36.55% 65.21% 34.05%
Income Tax $92.00M $78.30M $289.5M
% Of Pretax Income 23.08% 26.51% 22.72%
Net Earnings $306.6M $217.1M $984.8M
YoY Change 27.27% 64.35% 35.4%
Net Earnings / Revenue 45.24% 35.32% 42.31%
Basic Earnings Per Share $6.52 $21.04
Diluted Earnings Per Share $6.17 $4.34 $19.81
COMMON SHARES
Basic Shares Outstanding 47.06M shares 46.99M shares 46.80M shares
Diluted Shares Outstanding 49.70M shares 49.70M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.708B $2.994B $2.994B
YoY Change -5.43% 5.47% 5.47%
Cash & Equivalents $1.252B $1.208B $1.208B
Short-Term Investments $1.456B $1.786B $1.786B
Other Short-Term Assets $113.4M $166.2M $166.2M
YoY Change 22.46% -24.18% -24.18%
Inventory $120.2M $111.8M $111.8M
Prepaid Expenses
Receivables $307.3M $278.9M $278.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.249B $3.551B $3.551B
YoY Change 1.74% 5.05% 5.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.074B $1.045B $1.045B
YoY Change 19.8% 21.35% 21.35%
Goodwill $33.70M
YoY Change 20.36%
Intangibles
YoY Change
Long-Term Investments $1.492B $1.938B $1.938B
YoY Change -15.5% 47.26% 47.26%
Other Assets $169.1M $151.8M $518.1M
YoY Change 35.82% 32.81% 17.22%
Total Long-Term Assets $3.247B $3.616B $3.616B
YoY Change 2.97% 35.73% 35.73%
TOTAL ASSETS
Total Short-Term Assets $3.249B $3.551B $3.551B
Total Long-Term Assets $3.247B $3.616B $3.616B
Total Assets $6.495B $7.167B $7.167B
YoY Change 2.35% 18.57% 18.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $305.1M $5.600M $5.600M
YoY Change 27.28% 36.59% 36.59%
Accrued Expenses $292.4M $292.4M
YoY Change 29.5% 29.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0M $400.0M $400.0M
YoY Change
Total Short-Term Liabilities $860.6M $804.4M $804.4M
YoY Change 165.13% 134.38% 134.38%
LONG-TERM LIABILITIES
Long-Term Debt $200.0M $300.0M $300.0M
YoY Change -75.0% -62.5% -62.5%
Other Long-Term Liabilities $96.50M $77.80M $77.80M
YoY Change -1.73% -25.62% -25.62%
Total Long-Term Liabilities $96.50M $77.80M $377.8M
YoY Change -1.73% -25.62% -58.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $860.6M $804.4M $804.4M
Total Long-Term Liabilities $96.50M $77.80M $377.8M
Total Liabilities $1.157B $1.182B $1.182B
YoY Change -5.37% -5.26% -5.26%
SHAREHOLDERS EQUITY
Retained Earnings $6.334B $6.027B
YoY Change 19.88% 19.53%
Common Stock $2.406B $2.550B
YoY Change -2.11% 6.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.338B $5.985B $5.985B
YoY Change
Total Liabilities & Shareholders Equity $6.495B $7.167B $7.167B
YoY Change 2.35% 18.57% 18.57%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $306.6M $217.1M $984.8M
YoY Change 27.27% 64.35% 35.4%
Depreciation, Depletion And Amortization $15.00M $13.70M $53.20M
YoY Change 12.78% 3.79% 3.7%
Cash From Operating Activities $376.5M $150.7M $978.0M
YoY Change 0.45% 17.55% 21.87%
INVESTING ACTIVITIES
Capital Expenditures $38.20M $78.70M $230.4M
YoY Change -7.51% 99.24% 65.99%
Acquisitions $89.20M
YoY Change
Other Investing Activities $773.5M $120.8M -$489.2M
YoY Change -530.2% -180.64% -27.28%
Cash From Investing Activities $735.3M $42.10M -$719.6M
YoY Change -432.56% -122.24% -11.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.068B -92.80M -$11.90M
YoY Change -2297.53% -267.21% -115.78%
NET CHANGE
Cash From Operating Activities $376.5M 150.7M $978.0M
Cash From Investing Activities $735.3M 42.10M -$719.6M
Cash From Financing Activities -$1.068B -92.80M -$11.90M
Net Change In Cash $43.80M 100.0M $246.5M
YoY Change -78.35% -1885.71% 271.23%
FREE CASH FLOW
Cash From Operating Activities $376.5M $150.7M $978.0M
Capital Expenditures $38.20M $78.70M $230.4M
Free Cash Flow $338.3M $72.00M $747.6M
YoY Change 1.44% -18.83% 12.64%

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<span style="color:#6d6e70;font-family:'Avenir Next LT Pro Medium',sans-serif;font-size:16pt;font-weight:400;line-height:120%;padding-left:4.57pt">Organization and Business Description</span><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">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. In 2021, we converted to a Delaware public benefit corporation (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">PBC</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), with the express public benefit purpose</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%"> to provide a brighter future for patients through (a) the development of novel pharmaceutical therapies; and (b) technologies that expand the availability of transplantable organs</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">We have approval from the U.S. Food and Drug Administration (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">FDA</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) to market the following therapies: Tyvaso DPI</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Inhalation Powder (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Tyvaso DPI</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Tyvaso</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Inhalation Solution (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">nebulized</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Tyvaso</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Injection (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Remodulin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Orenitram</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (treprostinil) Extended-Release Tablets (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Orenitram</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), Unituxin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (dinutuximab) Injection (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Unituxin</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), and Adcirca</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:5.52pt;font-weight:400;line-height:120%;position:relative;top:-2.97pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%"> (tadalafil) Tablets (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Adcirca</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). We also derive revenues outside the United States from sales of nebulized Tyvaso, Remodulin, and Unituxin.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">As used in these notes to our consolidated financial statements, unless the context otherwise requires, the terms “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">we</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">us</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, “</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">our</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">”, and similar terms refer to United Therapeutics Corporation and its consolidated subsidiaries.</span></div>
CY2023 us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;margin-top:14pt"><span style="color:#c12034;font-family:'Avenir Next LT Pro',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">The preparation of our consolidated financial statements in accordance with GAAP requires our management to make estimates and assumptions that affect reported amounts of assets and liabilities at the date of our consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on assumptions regarding historical experience, currently available information, and anticipated developments that we believe are reasonable and appropriate. However, because the use of estimates involves an inherent degree of uncertainty, actual results could differ from those estimates. Estimates are used for, but not limited to, revenue recognition, share-based compensation, determining the fair value of assets acquired and liabilities assumed in business combinations, marketable investments, fair value measurements (including those related to contingent consideration), inventory reserves, investments in privately-held companies, income taxes, goodwill and other intangible assets, and obligations related to our Supplemental Executive Retirement Plan.</span></div>
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CY2023Q4 uthr Number Of Equity Incentive Plans
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
17900000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
21700000 usd
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
2000000.0 usd
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
200000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
600000 usd
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
1300000 usd
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
-17700000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
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CY2021Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
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CY2023Q4 uthr Defined Benefit Plan Accumulated Other Comprehensive Income Tax Amount
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeTaxAmount
-1800000 usd
CY2022Q4 uthr Defined Benefit Plan Accumulated Other Comprehensive Income Tax Amount
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeTaxAmount
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CY2021Q4 uthr Defined Benefit Plan Accumulated Other Comprehensive Income Tax Amount
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeTaxAmount
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CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-15900000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
500000 usd
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
44000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
47000000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
30500000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
0 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
0 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
0 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
11200000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
19300000 usd
CY2023Q4 uthr Defined Benefit Plan Expected Future Benefit Payments
DefinedBenefitPlanExpectedFutureBenefitPayments
61000000.0 usd
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.40
CY2023 uthr Defined Contribution Plan Vesting Of Matching Contribution Service Period
DefinedContributionPlanVestingOfMatchingContributionServicePeriod
P3Y
CY2023 uthr Defined Contribution Plan Annual Increments Vesting Period
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P3Y
CY2023 uthr Defined Contribution Plan Vesting Of Matching Contribution Service Period
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4700000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4300000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3900000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
11500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
32800000 usd
CY2023 us-gaap Operating Lease Cost
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5700000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
4800000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
3600000 usd
CY2022Q3 uthr Lessee Operating Lease Renewal Options
LesseeOperatingLeaseRenewalOptions
5 option
CY2022Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022Q3 uthr Lessee Operating Lease Renewal Options Exercised
LesseeOperatingLeaseRenewalOptionsExercised
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CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
32300000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Gross Profit
GrossProfit
2070000000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1936300000 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
151600000 usd
CY2022 us-gaap Gross Profit
GrossProfit
1784700000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1685500000 usd
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
122500000 usd
CY2021 us-gaap Gross Profit
GrossProfit
1563000000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2327500000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1936300000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1685500000 usd
CY2023Q4 us-gaap Noncurrent Assets
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1069800000 usd
CY2022Q4 us-gaap Noncurrent Assets
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883700000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
780900000 usd
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
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false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
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false

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