$VRTX
VERTEX PHARMACEUTICALS INC / MA

2022 Q4 Form 10-Q Financial Statement

#000087532022000038 Filed on October 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $2.303B $2.334B
YoY Change 11.1% 17.65%
Cost Of Revenue $283.3M $289.4M
YoY Change 14.52% 22.36%
Gross Profit $2.019B $2.045B
YoY Change 10.64% 17.01%
Gross Profit Margin 87.7% 87.6%
Selling, General & Admin $267.4M $246.8M
YoY Change 4.79% 24.53%
% of Gross Profit 13.24% 12.07%
Research & Development $716.7M $645.0M
YoY Change 3.23% 30.63%
% of Gross Profit 35.49% 31.54%
Depreciation & Amortization $38.40M $36.70M
YoY Change 13.5% 15.79%
% of Gross Profit 1.9% 1.79%
Operating Expenses $985.9M $891.8M
YoY Change 4.06% 28.88%
Operating Profit $1.033B $1.127B
YoY Change 17.75% 6.85%
Interest Expense $68.40M $32.50M
YoY Change -3908.46% -0.12%
% of Operating Profit 6.62% 2.88%
Other Income/Expense, Net -$25.10M $17.20M
YoY Change 404.73% -59.4%
Pretax Income $1.077B $1.176B
YoY Change 23.63% 8.65%
Income Tax $257.9M $245.9M
% Of Pretax Income 23.95% 20.9%
Net Earnings $818.9M $930.5M
YoY Change 6.34% 9.22%
Net Earnings / Revenue 35.56% 39.86%
Basic Earnings Per Share $3.63
Diluted Earnings Per Share $3.15 $3.59
COMMON SHARES
Basic Shares Outstanding 256.7M shares 256.5M shares
Diluted Shares Outstanding 259.5M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.78B $9.771B
YoY Change 43.24% 40.37%
Cash & Equivalents $10.50B $9.172B
Short-Term Investments $274.5M $599.2M
Other Short-Term Assets $74.40M $726.9M
YoY Change -60.26% 58.77%
Inventory $460.6M $388.2M
Prepaid Expenses $111.8M
Receivables $1.442B $1.385B
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.23B $12.27B
YoY Change 38.43% 38.62%
LONG-TERM ASSETS
Property, Plant & Equipment $1.456B $1.119B
YoY Change 2.2% -17.42%
Goodwill $1.100B $1.075B
YoY Change 9.76% 7.29%
Intangibles $603.6M $603.6M
YoY Change 50.9% 50.9%
Long-Term Investments $98.60M $98.60M
YoY Change 14.92% 174.65%
Other Assets $521.8M $132.5M
YoY Change 370.94% 75.45%
Total Long-Term Assets $4.916B $4.435B
YoY Change 26.97% 17.77%
TOTAL ASSETS
Total Short-Term Assets $13.23B $12.27B
Total Long-Term Assets $4.916B $4.435B
Total Assets $18.15B $16.71B
YoY Change 35.13% 32.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $303.9M $126.9M
YoY Change 55.85% -0.75%
Accrued Expenses $2.127B $2.264B
YoY Change 26.69% 42.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.742B $2.609B
YoY Change 28.02% 36.31%
LONG-TERM LIABILITIES
Long-Term Debt $430.8M $482.0M
YoY Change -15.5% -6.09%
Other Long-Term Liabilities $685.8M $115.7M
YoY Change 487.16% 6.66%
Total Long-Term Liabilities $685.8M $115.7M
YoY Change 487.16% 6.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.742B $2.609B
Total Long-Term Liabilities $685.8M $115.7M
Total Liabilities $4.238B $3.677B
YoY Change 27.18% 19.07%
SHAREHOLDERS EQUITY
Retained Earnings $6.523B $5.704B
YoY Change 103.79% 134.66%
Common Stock $7.389B $7.228B
YoY Change 7.35% 1.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.91B $13.03B
YoY Change
Total Liabilities & Shareholders Equity $18.15B $16.71B
YoY Change 35.13% 32.39%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $818.9M $930.5M
YoY Change 6.34% 9.22%
Depreciation, Depletion And Amortization $38.40M $36.70M
YoY Change 13.5% 15.79%
Cash From Operating Activities $1.078B $955.5M
YoY Change 8.38% 3.05%
INVESTING ACTIVITIES
Capital Expenditures $33.60M -$54.20M
YoY Change -154.44% 3.19%
Acquisitions
YoY Change
Other Investing Activities $209.2M -$330.0M
YoY Change -389.42% 76644.19%
Cash From Investing Activities $175.6M -$384.2M
YoY Change -231.05% 625.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.20M -60.20M
YoY Change -111.96% -90.83%
NET CHANGE
Cash From Operating Activities 1.078B 955.5M
Cash From Investing Activities 175.6M -384.2M
Cash From Financing Activities 40.20M -60.20M
Net Change In Cash 1.294B 511.1M
YoY Change 146.63% 134.87%
FREE CASH FLOW
Cash From Operating Activities $1.078B $955.5M
Capital Expenditures $33.60M -$54.20M
Free Cash Flow $1.045B $1.010B
YoY Change -1.13% 3.06%

Facts In Submission

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VERTEX PHARMACEUTICALS INC / MA
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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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dei Security12b Title
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SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
379800000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
322800000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
135600000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
103000000.0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
379800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
322800000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
38800000 usd
CY2021Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
21600000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
101300000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
73700000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
96800000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
81400000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
278500000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
249100000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1176400000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1082800000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3155600000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1859500000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
245900000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
230900000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
652500000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
287500000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.15
us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-99700000 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
144900000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
129500000 usd
CY2022Q3 vrtx Indemnification Claims
IndemnificationClaims
0 usd
CY2022Q3 vrtx Contingent Liabilities
ContingentLiabilities
0 usd
CY2021Q4 vrtx Contingent Liabilities
ContingentLiabilities
0 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6795000000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9171500000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5988200000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6275700000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5100000 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5500000 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
700000 usd
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4500000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6800100000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9177000000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5988900000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6280200000 usd

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