$VRTX
VERTEX PHARMACEUTICALS INC / MA

2016 Q3 Form 10-Q Financial Statement

#000087532016000107 Filed on October 31, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $413.8M $309.8M
YoY Change 33.56% 73.09%
Cost Of Revenue $53.22M $30.27M
YoY Change 75.83% 196.52%
Gross Profit $360.6M $279.5M
YoY Change 28.98% 65.63%
Gross Profit Margin 87.14% 90.23%
Selling, General & Admin $106.1M $99.77M
YoY Change 6.3% 32.63%
% of Gross Profit 29.41% 35.69%
Research & Development $272.4M $246.3M
YoY Change 10.59% 28.99%
% of Gross Profit 75.54% 88.1%
Depreciation & Amortization $14.50M $16.20M
YoY Change -10.49% -4.14%
% of Gross Profit 4.02% 5.8%
Operating Expenses $378.4M $346.1M
YoY Change 9.35% 30.02%
Operating Profit -$18.73M -$70.03M
YoY Change -73.26% -50.76%
Interest Expense -$20.14M -$21.13M
YoY Change -4.7% 3.68%
% of Operating Profit
Other Income/Expense, Net -$167.0K -$1.326M
YoY Change -87.41% -66.77%
Pretax Income -$39.03M -$92.49M
YoY Change -57.79% -44.48%
Income Tax $503.0K $1.330M
% Of Pretax Income
Net Earnings -$38.84M -$95.15M
YoY Change -59.18% -44.05%
Net Earnings / Revenue -9.39% -30.71%
Basic Earnings Per Share -$0.16 -$0.39
Diluted Earnings Per Share -$0.16 -$0.39
COMMON SHARES
Basic Shares Outstanding 244.9M shares 242.0M shares
Diluted Shares Outstanding 244.9M shares 242.0M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.128B $1.006B
YoY Change 12.13% -31.94%
Cash & Equivalents $719.7M $756.3M
Short-Term Investments $409.0M $250.0M
Other Short-Term Assets $119.0M $139.0M
YoY Change -14.39% 239.02%
Inventory $71.80M $49.20M
Prepaid Expenses
Receivables $182.2M $165.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.502B $1.359B
YoY Change 10.48% -17.61%
LONG-TERM ASSETS
Property, Plant & Equipment $687.6M $706.7M
YoY Change -2.7% -1.97%
Goodwill $50.38M $50.38M
YoY Change 0.0% 62.57%
Intangibles
YoY Change
Long-Term Investments $53.00M
YoY Change
Other Assets $10.00M $11.06M
YoY Change -9.57% 176.59%
Total Long-Term Assets $1.108B $1.075B
YoY Change 3.09% 42.14%
TOTAL ASSETS
Total Short-Term Assets $1.502B $1.359B
Total Long-Term Assets $1.108B $1.075B
Total Assets $2.610B $2.434B
YoY Change 7.22% 1.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.91M $78.90M
YoY Change -35.47% 105.08%
Accrued Expenses $292.0M $249.7M
YoY Change 16.95% 2.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $316.0M $14.00M
YoY Change 2157.14% -22.22%
Total Short-Term Liabilities $722.8M $375.0M
YoY Change 92.78% 0.75%
LONG-TERM LIABILITIES
Long-Term Debt $505.0M $807.0M
YoY Change -37.42% -0.37%
Other Long-Term Liabilities $30.52M $34.99M
YoY Change -12.76% 119.37%
Total Long-Term Liabilities $30.52M $34.99M
YoY Change -12.76% 119.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $722.8M $375.0M
Total Long-Term Liabilities $30.52M $34.99M
Total Liabilities $1.401B $1.357B
YoY Change 3.24% 8.57%
SHAREHOLDERS EQUITY
Retained Earnings -$5.407B -$5.188B
YoY Change 4.22% 14.56%
Common Stock $6.432B $6.109B
YoY Change 5.3% 7.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.022B $922.1M
YoY Change
Total Liabilities & Shareholders Equity $2.610B $2.434B
YoY Change 7.22% 1.16%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$38.84M -$95.15M
YoY Change -59.18% -44.05%
Depreciation, Depletion And Amortization $14.50M $16.20M
YoY Change -10.49% -4.14%
Cash From Operating Activities $65.70M -$62.10M
YoY Change -205.8% -29.11%
INVESTING ACTIVITIES
Capital Expenditures -$13.90M -$8.800M
YoY Change 57.95% -5.38%
Acquisitions
YoY Change
Other Investing Activities $48.70M -$92.20M
YoY Change -152.82% -331.66%
Cash From Investing Activities $34.80M -$101.0M
YoY Change -134.46% -431.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.50M 49.70M
YoY Change -72.84% -86.09%
NET CHANGE
Cash From Operating Activities 65.70M -62.10M
Cash From Investing Activities 34.80M -101.0M
Cash From Financing Activities 13.50M 49.70M
Net Change In Cash 114.0M -113.4M
YoY Change -200.53% -137.77%
FREE CASH FLOW
Cash From Operating Activities $65.70M -$62.10M
Capital Expenditures -$13.90M -$8.800M
Free Cash Flow $79.60M -$53.30M
YoY Change -249.34% -31.93%

Facts In Submission

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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates and Summary of Significant Accounting Policies</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the amounts of revenues and expenses during the reported periods. Significant estimates in these condensed consolidated financial statements have been made in connection with the calculation of revenues, inventories, research and development expenses, stock-based compensation expense, restructuring expense, the fair value of intangible assets, goodwill, contingent consideration, noncontrolling interest, the consolidation of VIEs, leases, the fair value of cash flow hedges and the provision for or benefit from income taxes. The Company bases its estimates on historical experience and various other assumptions, including in certain circumstances future projections that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</font></div></div>

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R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vrtx-20160930.xml Edgar Link completed
vrtx-20160930.xsd Edgar Link pending
vrtx-20160930_cal.xml Edgar Link unprocessable
vrtx-20160930_def.xml Edgar Link unprocessable
vrtx-20160930_lab.xml Edgar Link unprocessable
vrtx-20160930_pre.xml Edgar Link unprocessable