2024 Q2 Form 10-Q Financial Statement
#000108255424000025 Filed on May 01, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| Revenue | $714.9M | $677.7M | $506.9M |
| YoY Change | 19.85% | 33.7% | 9.74% |
| Cost Of Revenue | $77.80M | $72.90M | $52.30M |
| YoY Change | 21.37% | 39.39% | 101.93% |
| Gross Profit | $637.1M | $604.8M | $454.6M |
| YoY Change | 19.67% | 33.04% | 6.71% |
| Gross Profit Margin | 89.12% | 89.24% | 89.68% |
| Selling, General & Admin | $177.6M | $144.4M | $87.30M |
| YoY Change | 40.51% | 65.41% | 10.51% |
| % of Gross Profit | 27.88% | 23.88% | 19.2% |
| Research & Development | $139.6M | $104.1M | $82.90M |
| YoY Change | 56.85% | 25.57% | 20.14% |
| % of Gross Profit | 21.91% | 17.21% | 18.24% |
| Depreciation & Amortization | $18.70M | $15.00M | $13.30M |
| YoY Change | 44.96% | 12.78% | 6.4% |
| % of Gross Profit | 2.94% | 2.48% | 2.93% |
| Operating Expenses | $317.2M | $248.5M | $170.2M |
| YoY Change | 47.26% | 46.0% | 146.67% |
| Operating Profit | $319.9M | $356.3M | $284.4M |
| YoY Change | 0.91% | 25.28% | -1.25% |
| Interest Expense | $35.00M | $13.30M | $13.80M |
| YoY Change | 68.27% | -3.62% | 193.62% |
| % of Operating Profit | 10.94% | 3.73% | 4.85% |
| Other Income/Expense, Net | $35.40M | $42.30M | $7.500M |
| YoY Change | 3440.0% | 464.0% | -63.77% |
| Pretax Income | $355.3M | $398.6M | $291.9M |
| YoY Change | 6.0% | 36.55% | -5.44% |
| Income Tax | $77.20M | $92.00M | $51.00M |
| % Of Pretax Income | 21.73% | 23.08% | 17.47% |
| Net Earnings | $278.1M | $306.6M | $240.9M |
| YoY Change | 7.29% | 27.27% | 0.42% |
| Net Earnings / Revenue | 38.9% | 45.24% | 47.52% |
| Basic Earnings Per Share | $6.26 | $6.52 | $5.20 |
| Diluted Earnings Per Share | $5.85 | $6.17 | $4.86 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 44.36M shares | 47.06M shares | 46.30M shares |
| Diluted Shares Outstanding | 47.50M shares | 49.70M shares | 49.60M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $2.972B | $2.708B | $2.863B |
| YoY Change | 10.92% | -5.43% | 26.27% |
| Cash & Equivalents | $1.356B | $1.252B | $1.164B |
| Short-Term Investments | $1.616B | $1.456B | $1.700B |
| Other Short-Term Assets | $220.8M | $113.4M | $92.60M |
| YoY Change | 39.39% | 22.46% | 53.82% |
| Inventory | $136.5M | $120.2M | $102.5M |
| Prepaid Expenses | |||
| Receivables | $290.7M | $307.3M | $134.5M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $3.620B | $3.249B | $3.193B |
| YoY Change | 12.64% | 1.74% | 23.44% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.095B | $1.074B | $896.5M |
| YoY Change | 16.58% | 19.8% | 14.29% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $1.330B | $1.492B | $1.766B |
| YoY Change | -34.26% | -15.5% | 13.24% |
| Other Assets | $167.9M | $169.1M | $124.5M |
| YoY Change | -63.57% | 35.82% | 9.89% |
| Total Long-Term Assets | $3.104B | $3.247B | $3.153B |
| YoY Change | -10.5% | 2.97% | 13.7% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.620B | $3.249B | $3.193B |
| Total Long-Term Assets | $3.104B | $3.247B | $3.153B |
| Total Assets | $6.723B | $6.495B | $6.346B |
| YoY Change | 0.63% | 2.35% | 18.4% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $325.3M | $305.1M | $239.7M |
| YoY Change | 11.4% | 27.28% | 44.05% |
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $400.0M | $400.0M | |
| YoY Change | |||
| Total Short-Term Liabilities | $832.3M | $860.6M | $324.6M |
| YoY Change | 124.76% | 165.13% | 10.94% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $100.0M | $200.0M | $800.0M |
| YoY Change | -87.5% | -75.0% | 0.0% |
| Other Long-Term Liabilities | $93.70M | $96.50M | $98.20M |
| YoY Change | -6.3% | -1.73% | 8.03% |
| Total Long-Term Liabilities | $93.70M | $96.50M | $98.20M |
| YoY Change | -89.59% | -1.73% | 8.03% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $832.3M | $860.6M | $324.6M |
| Total Long-Term Liabilities | $93.70M | $96.50M | $98.20M |
| Total Liabilities | $1.026B | $1.157B | $1.223B |
| YoY Change | -19.23% | -5.37% | 3.32% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $6.612B | $6.334B | $5.283B |
| YoY Change | 19.29% | 19.88% | 15.99% |
| Common Stock | $2.544B | $2.406B | $2.458B |
| YoY Change | 1.82% | -2.11% | 9.01% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $5.697B | $5.338B | $5.123B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $6.723B | $6.495B | $6.346B |
| YoY Change | 0.63% | 2.35% | 18.4% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $278.1M | $306.6M | $240.9M |
| YoY Change | 7.29% | 27.27% | 0.42% |
| Depreciation, Depletion And Amortization | $18.70M | $15.00M | $13.30M |
| YoY Change | 44.96% | 12.78% | 6.4% |
| Cash From Operating Activities | $232.2M | $376.5M | $374.8M |
| YoY Change | 118.44% | 0.45% | 29.82% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $45.10M | $38.20M | $41.30M |
| YoY Change | 0.89% | -7.51% | 205.93% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$34.90M | $773.5M | -$179.8M |
| YoY Change | -80.88% | -530.2% | -47.99% |
| Cash From Investing Activities | -$80.00M | $735.3M | -$221.1M |
| YoY Change | -64.79% | -432.56% | -38.45% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -48.00M | -$1.068B | $48.60M |
| YoY Change | -294.33% | -2297.53% | -541.82% |
| NET CHANGE | |||
| Cash From Operating Activities | 232.2M | $376.5M | $374.8M |
| Cash From Investing Activities | -80.00M | $735.3M | -$221.1M |
| Cash From Financing Activities | -48.00M | -$1.068B | $48.60M |
| Net Change In Cash | 104.2M | $43.80M | $202.3M |
| YoY Change | -208.32% | -78.35% | -348.22% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $232.2M | $376.5M | $374.8M |
| Capital Expenditures | $45.10M | $38.20M | $41.30M |
| Free Cash Flow | $187.1M | $338.3M | $333.5M |
| YoY Change | 203.73% | 1.44% | 21.18% |
Facts In Submission
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Earnings Per Share Basic
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374800000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
38200000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
41300000 | usd |
| CY2024Q1 | uthr |
Advance Payment Related To Property Plant And Equipment
AdvancePaymentRelatedToPropertyPlantAndEquipment
|
4300000 | usd |
| CY2023Q1 | uthr |
Advance Payment Related To Property Plant And Equipment
AdvancePaymentRelatedToPropertyPlantAndEquipment
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
529300000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
889500000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
475300000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
709700000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
831800000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
735300000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-221100000 | usd |
| CY2024Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1000000000 | usd |
| CY2023Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
100000000.0 | usd |
| CY2024Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2700000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2700000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
42200000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
61400000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
3900000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
3400000 | usd |
| CY2024Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
11400000 | usd |
| CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
13500000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1068000000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
48600000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
43800000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
202300000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1207700000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
961200000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1251500000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1163500000 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
12600000 | usd |
| CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
13100000 | usd |
| CY2024Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
4700000 | usd |
| CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
| CY2024Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
23600000 | usd |
| CY2023Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
18400000 | usd |
| CY2024Q1 | uthr |
Noncash Measurement Period Adjustments To Purchase Price
NoncashMeasurementPeriodAdjustmentsToPurchasePrice
|
1400000 | usd |
| CY2023Q1 | uthr |
Noncash Measurement Period Adjustments To Purchase Price
NoncashMeasurementPeriodAdjustmentsToPurchasePrice
|
0 | usd |
| CY2024Q1 | uthr |
Noncash Excise Tax On Net Share Repurchases
NoncashExciseTaxOnNetShareRepurchases
|
6900000 | usd |
| CY2023Q1 | uthr |
Noncash Excise Tax On Net Share Repurchases
NoncashExciseTaxOnNetShareRepurchases
|
0 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Organization and Business Description<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 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> | |
| CY2024Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
Basis of Presentation<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 accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">SEC</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) for interim financial information. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles 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 December 31, 2023, as filed with the SEC on February 21, 2024.</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%">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 March 31, 2024 and December 31, 2023, and our statements of operations, comprehensive income, stockholders’ equity, and cash flows for the three-month periods ended March 31, 2024 and 2023. Interim results are not necessarily indicative of results for an entire year.</span></div><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%">Recently Issued Accounting Standards </span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Adopted During the Period</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%">None.</span></div><div style="margin-bottom:6pt;margin-top:10pt"><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Not Yet Adopted</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%">In October 2023, the FASB issued Accounting Standards Update (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">ASU</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">) 2023-06, </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%">Disclosure Improvements, </span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">which incorporates certain existing or incremental disclosure and presentation requirements of SEC Regulation S-X and Regulation S-K into the FASB Accounting Standards Codification (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Codification</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">). The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification topics and to align the requirements in the Codification with the SEC’s regulations. The effective date for each amendment in the ASU will be the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or if the SEC has not removed the related requirement by June 30, 2027, the applicable amendment will be removed from the Codification and will not become effective for any entity. Early adoption is prohibited. We are currently evaluating the impact of adopting this guidance on our consolidated financial statements.</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%">In November 2023, the FASB issued ASU 2023-07, </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%">Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. This ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">CODM</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">), a description of other segment items by reportable segment, and any additional measures of a segment profit or loss used by the CODM when deciding how to allocate resources. This ASU also requires all annual disclosures currently required by Topic 280 to be included in interim period disclosures. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance requires retrospective application to all prior periods presented in the financial statements. We are currently assessing the timing and impact of adopting the updated provisions on our consolidated financial statements.</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%">In December 2023, the FASB issued ASU 2023-09, </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%">Income Taxes (Topic 740): Improvements to Income Tax Disclosures</span><span style="color:#000000;font-family:'Avenir Next LT Pro',sans-serif;font-size:8.5pt;font-weight:400;line-height:120%">, which enhances the required disclosures primarily related to the income tax rate reconciliation and income taxes paid. This ASU requires an entity’s income tax rate reconciliation to provide additional information for reconciling items meeting a quantitative threshold, and to disclose certain selected categories within the income tax rate reconciliation. This ASU also requires entities to disclose the amount of income taxes paid, disaggregated by federal, state, and foreign taxes. This ASU is effective for annual periods beginning after December 15, 2024, though early adoption is permitted. We are currently evaluating the impact of adopting this guidance on our consolidated financial statements.</span></div> | |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
|
2988600000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1400000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
20700000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
2969300000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
2969300000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
|
3771700000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
7400000 | usd |
| CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
21900000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
3757200000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
3757200000 | usd |
| CY2023Q4 | uthr |
Debt Securities Available For Sale Excluding Accrued Interest Receivable
DebtSecuritiesAvailableForSaleExcludingAccruedInterestReceivable
|
21000000 | usd |
| CY2023Q4 | uthr |
Debt Securities Available For Sale Excluding Accrued Interest Receivable
DebtSecuritiesAvailableForSaleExcludingAccruedInterestReceivable
|
21000000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
1996900000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
10900000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
614300000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
9800000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
2611200000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
20700000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
1311200000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
4900000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
1122200000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
17000000.0 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
2433400000 | usd |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
21900000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
474 | investment |
| CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
385 | investment |
| CY2023Q1 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
|
0 | usd |
| CY2024Q1 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
|
0 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
831800000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
|
400000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
|
1800000 | usd |
| CY2024Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
-1400000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
|
1489800000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
|
1477400000 | usd |
| CY2024Q1 | uthr |
Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Rolling Year One Through Three Amortized Cost Basis
DebtSecuritiesAvailableForSaleMaturityAllocatedAndSingleMaturityDateRollingYearOneThroughThreeAmortizedCostBasis
|
1498800000 | usd |
| CY2024Q1 | uthr |
Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Rolling Year One Through Year Three Fair Value
DebtSecuritiesAvailableForSaleMaturityAllocatedAndSingleMaturityDateRollingYearOneThroughYearThreeFairValue
|
1491900000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
|
2988600000 | usd |
| CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
|
2969300000 | usd |
| CY2024Q1 | us-gaap |
Equity Securities Fv Ni
EquitySecuritiesFvNi
|
20500000 | usd |
| CY2023Q4 | us-gaap |
Equity Securities Fv Ni
EquitySecuritiesFvNi
|
14900000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
1500000 | usd |
| CY2024Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
21600000 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
21700000 | usd |
| CY2024Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
34800000 | usd |
| CY2023Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
34400000 | usd |
| CY2024Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
63800000 | usd |
| CY2023Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
55700000 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
120200000 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
111800000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1516900000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1473600000 | usd |
| CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
442900000 | usd |
| CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
428200000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1074000000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1045400000 | usd |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
677700000 | usd |
| CY2024Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
72900000 | usd |
| CY2024Q1 | uthr |
Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
|
2 | plan |
| CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25600000 | usd |
| CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
-12400000 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
75900000 | usd |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.23 | |
| CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.17 | |
| CY2024Q1 | uthr |
Unrecognized Tax Benefits Including Interest
UnrecognizedTaxBenefitsIncludingInterest
|
28900000 | usd |
| CY2023Q4 | uthr |
Unrecognized Tax Benefits Including Interest
UnrecognizedTaxBenefitsIncludingInterest
|
25700000 | usd |
| CY2024Q1 | uthr |
Share Tracking Award Plans
ShareTrackingAwardPlans
|
29200000 | usd |
| CY2023Q4 | uthr |
Share Tracking Award Plans
ShareTrackingAwardPlans
|
35400000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
306600000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
240900000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
47000000.0 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
46300000 | shares |
| CY2024Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2700000 | shares |
| CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
3300000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49700000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49600000 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
6.52 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
5.20 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
6.17 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
4.86 | |
| CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
700000 | shares |
| CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
100000 | shares |
| CY2024Q1 | us-gaap |
Gross Profit
GrossProfit
|
604800000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
506900000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
52300000 | usd |
| CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
454600000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
677700000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
506900000 | usd |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
