2023 Q1 Form 10-K Financial Statement

#000087532023000007 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.375B $2.303B $8.931B
YoY Change 13.22% 11.1% 17.91%
Cost Of Revenue $266.9M $283.3M $1.080B
YoY Change 8.58% 14.52% 19.48%
Gross Profit $2.108B $2.019B $7.850B
YoY Change 13.84% 10.64% 17.69%
Gross Profit Margin 88.76% 87.7% 87.9%
Selling, General & Admin $241.1M $267.4M $944.7M
YoY Change 12.04% 4.79% 12.45%
% of Gross Profit 11.44% 13.24% 12.03%
Research & Development $742.6M $716.7M $2.540B
YoY Change 23.13% 3.23% -16.74%
% of Gross Profit 35.23% 35.49% 32.36%
Depreciation & Amortization $38.80M $38.40M $148.3M
YoY Change 8.08% 13.5% 18.07%
% of Gross Profit 1.84% 1.9% 1.89%
Operating Expenses $983.7M $985.9M $3.485B
YoY Change 20.21% 4.06% -10.44%
Operating Profit $779.0M $1.033B $4.307B
YoY Change -25.16% 17.75% 54.83%
Interest Expense $111.2M $68.40M -$59.30M
YoY Change -225.08% -3908.46% 50.13%
% of Operating Profit 14.27% 6.62% -1.38%
Other Income/Expense, Net $1.300M -$25.10M -$164.8M
YoY Change -101.79% 404.73% -3463.27%
Pretax Income $891.5M $1.077B $4.232B
YoY Change -6.63% 23.63% 55.01%
Income Tax $191.7M $257.9M $910.4M
% Of Pretax Income 21.5% 23.95% 21.51%
Net Earnings $699.8M $818.9M $3.322B
YoY Change -8.17% 6.34% 41.84%
Net Earnings / Revenue 29.47% 35.56% 37.2%
Basic Earnings Per Share $2.72 $12.97
Diluted Earnings Per Share $2.69 $3.15 $12.82
COMMON SHARES
Basic Shares Outstanding 257.1M shares 256.7M shares 256.1M shares
Diluted Shares Outstanding 260.3M shares 259.1M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.41B $10.78B $10.78B
YoY Change 26.41% 43.24% 43.24%
Cash & Equivalents $9.290B $10.50B $10.50B
Short-Term Investments $1.124B $274.5M $274.5M
Other Short-Term Assets $468.7M $74.40M $553.5M
YoY Change -4.64% -60.26% 1.41%
Inventory $535.1M $460.6M $460.6M
Prepaid Expenses $111.8M
Receivables $1.548B $1.442B $1.442B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.97B $13.23B $13.23B
YoY Change 25.14% 38.43% 38.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.448B $1.456B $1.456B
YoY Change 0.81% 2.2% 2.2%
Goodwill $1.088B $1.100B
YoY Change 8.56% 9.76%
Intangibles $603.6M $603.6M
YoY Change 50.9% 50.9%
Long-Term Investments $1.180B $98.60M $98.60M
YoY Change 1275.41% 14.92% 14.92%
Other Assets $427.5M $521.8M $1.670B
YoY Change 286.18% 370.94% 74.06%
Total Long-Term Assets $6.009B $4.916B $4.916B
YoY Change 54.27% 26.97% 26.97%
TOTAL ASSETS
Total Short-Term Assets $12.97B $13.23B $13.23B
Total Long-Term Assets $6.009B $4.916B $4.916B
Total Assets $18.97B $18.15B $18.15B
YoY Change 33.1% 35.13% 35.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $323.2M $303.9M $303.9M
YoY Change 86.18% 55.85% 55.85%
Accrued Expenses $2.326B $2.127B $2.052B
YoY Change 35.19% 26.69% 36.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $40.80M
YoY Change -13.01%
Total Short-Term Liabilities $3.026B $2.742B $2.742B
YoY Change 38.8% 28.02% 28.02%
LONG-TERM LIABILITIES
Long-Term Debt $417.6M $430.8M $430.8M
YoY Change -15.72% -15.5% -15.5%
Other Long-Term Liabilities $726.5M $685.8M $1.065B
YoY Change 518.82% 487.16% 56.5%
Total Long-Term Liabilities $726.5M $685.8M $1.496B
YoY Change 518.82% 487.16% 25.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.026B $2.742B $2.742B
Total Long-Term Liabilities $726.5M $685.8M $1.496B
Total Liabilities $4.542B $4.238B $4.238B
YoY Change 35.62% 27.18% 27.18%
SHAREHOLDERS EQUITY
Retained Earnings $7.223B $6.523B
YoY Change 82.26% 103.79%
Common Stock $7.223B $7.389B
YoY Change 4.18% 7.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.43B $13.91B $13.91B
YoY Change
Total Liabilities & Shareholders Equity $18.97B $18.15B $18.15B
YoY Change 33.1% 35.13% 35.13%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $699.8M $818.9M $3.322B
YoY Change -8.17% 6.34% 41.84%
Depreciation, Depletion And Amortization $38.80M $38.40M $148.3M
YoY Change 8.08% 13.5% 18.07%
Cash From Operating Activities $899.9M $1.078B $4.130B
YoY Change -5.89% 8.38% 56.23%
INVESTING ACTIVITIES
Capital Expenditures $42.10M $33.60M $204.7M
YoY Change -33.81% -154.44% -12.89%
Acquisitions $295.9M
YoY Change
Other Investing Activities -$1.792B $209.2M -$116.4M
YoY Change -14318.25% -389.42% 9.92%
Cash From Investing Activities -$1.834B $175.6M -$321.1M
YoY Change 3495.29% -231.05% -5.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$294.7M 40.20M -$67.70M
YoY Change 208.91% -111.96% -95.42%
NET CHANGE
Cash From Operating Activities $899.9M 1.078B $4.130B
Cash From Investing Activities -$1.834B 175.6M -$321.1M
Cash From Financing Activities -$294.7M 40.20M -$67.70M
Net Change In Cash -$1.216B 1.294B $3.712B
YoY Change -251.31% 146.63% 357.58%
FREE CASH FLOW
Cash From Operating Activities $899.9M $1.078B $4.130B
Capital Expenditures $42.10M $33.60M $204.7M
Free Cash Flow $857.8M $1.045B $3.925B
YoY Change -3.9% -1.13% 62.97%

Facts In Submission

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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with U.S. GAAP requires us 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 our consolidated financial statements, and the amounts of revenues and expenses during the reported periods. We base our estimates on historical experience and various other assumptions, including in certain circumstances future projections that we believe 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.</span></div>
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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to concentration of credit risk consist principally of cash equivalents and marketable securities. We place these investments with highly rated financial institutions, and, by policy, limit the amount of credit exposure to any one financial institution. We also maintain a foreign currency hedging program that includes foreign currency forward contracts with several counterparties. We have not experienced any credit losses related to these financial instruments and do not believe we are exposed to any significant credit risk related to these instruments. </span></div>We are also subject to credit risk from our accounts receivable related to our product sales and collaborators. We evaluate the creditworthiness of each of our customers and have determined that all our material customers are creditworthy. To date, we have not experienced significant losses with respect to the collection of our accounts receivable. We believe that our allowances, which are not significant to our consolidated financial statements, are adequate at December 31, 2022.
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
58600000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
36300000 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
293600000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
33100000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022 vrtx Common Stock Votes Per Each Share
CommonStockVotesPerEachShare
1 vote
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 vrtx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOutstandingNumber
6667000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
19695000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3611000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
141.76
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
20000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
276.17
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1087000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
133.50
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
17000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
181.49
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2527000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
146.11
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M1D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
355600000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2446000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
144.94
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y7M9D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
347100000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
157200000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
43000000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
255000000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
144600000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
64200000 usd
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
228200000 usd
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2527000 shares
CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y8M1D
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
146.11
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
2446000 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
144.94
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.60
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
27500000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
21800000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
19200000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
491300000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
441400000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
429500000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
144100000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
82900000 usd
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
147000000.0 usd
CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
347200000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
358500000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
282500000 usd
CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
-900000 usd
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4100000 usd
CY2020 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3600000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
491300000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
441400000 usd
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
429500000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
491400000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
20079 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
27302 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
22636 shares
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
779000000.0 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3257000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2030700000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2885400000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
975400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
699700000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
231500000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4232400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2730400000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3116900000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
374900000 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
71400000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
34900000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
26500000 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18900000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
372400000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
141500000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
37600000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1186300000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
542900000 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
127900000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-404000000.0 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-36900000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
510200000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11000000.0 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-19300000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
6700000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
139100000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-98400000 usd
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-239600000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-275900000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-154600000 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
277300000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
910400000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
388300000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
405200000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.008
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.002
CY2022 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.019
CY2021 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.007
CY2020 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.027
CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.014
CY2021 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.008
CY2020 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.002
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.022
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.064
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.018
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.035
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.012
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.023
CY2022 vrtx Effective Income Tax Rate Reconciliation Intercompany Receivable Write Off Percent
EffectiveIncomeTaxRateReconciliationIntercompanyReceivableWriteOffPercent
0
CY2021 vrtx Effective Income Tax Rate Reconciliation Intercompany Receivable Write Off Percent
EffectiveIncomeTaxRateReconciliationIntercompanyReceivableWriteOffPercent
0
CY2020 vrtx Effective Income Tax Rate Reconciliation Intercompany Receivable Write Off Percent
EffectiveIncomeTaxRateReconciliationIntercompanyReceivableWriteOffPercent
-0.017
CY2022 vrtx Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
0.027
CY2021 vrtx Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
0.020
CY2020 vrtx Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
0.013
CY2022 vrtx Effective Income Tax Rate Reconciliation Intra Entity Transfer Of Intellectual Property Rights Percent
EffectiveIncomeTaxRateReconciliationIntraEntityTransferOfIntellectualPropertyRightsPercent
0
CY2021 vrtx Effective Income Tax Rate Reconciliation Intra Entity Transfer Of Intellectual Property Rights Percent
EffectiveIncomeTaxRateReconciliationIntraEntityTransferOfIntellectualPropertyRightsPercent
0
CY2020 vrtx Effective Income Tax Rate Reconciliation Intra Entity Transfer Of Intellectual Property Rights Percent
EffectiveIncomeTaxRateReconciliationIntraEntityTransferOfIntellectualPropertyRightsPercent
-0.067
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.007
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.011
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.142
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.130
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.142
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
44100000 usd
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.130
CY2020 vrtx Effective Income Tax Rate Reconciliation Inter Entity Transfer Of Intellectual Property Rights Amount
EffectiveIncomeTaxRateReconciliationInterEntityTransferOfIntellectualPropertyRightsAmount
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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106600000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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223000000.0 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
202400000 usd
CY2022Q4 vrtx Deferred Tax Assets Intangibles
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CY2021Q4 vrtx Deferred Tax Assets Intangibles
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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124400000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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94600000 usd
CY2022Q4 vrtx Deferred Tax Assets Lease Obligation
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94900000 usd
CY2021Q4 vrtx Deferred Tax Assets Lease Obligation
DeferredTaxAssetsLeaseObligation
103400000 usd
CY2022Q4 vrtx Deferred Tax Assets Operating Lease Assets
DeferredTaxAssetsOperatingLeaseAssets
79600000 usd
CY2021Q4 vrtx Deferred Tax Assets Operating Lease Assets
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81100000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
438300000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
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69200000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
90300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1845300000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1481200000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
237800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
220400000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
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1607500000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1260800000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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139800000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
118200000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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130500000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
87000000.0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
63100000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
64800000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
27200000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
56300000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
360600000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
326300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1246900000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
934500000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
237800000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
195100000 usd
CY2021Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
225400000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
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147200000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
86600000 usd
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
33900000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
128300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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42000000.0 usd
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UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
26700000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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205300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
19900000 usd
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
26700000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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14400000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 usd
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0 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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4500000 usd
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1300000 usd
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700000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
2300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
0 usd
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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147200000 usd
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86600000 usd
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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312400000 usd
CY2022 vrtx Unrecognized Tax Benefits Decrease In Deferred Tax Assets Gross
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29700000 usd
CY2022 vrtx Unrecognized Tax Benefits Deferred Tax Liabilities Gross
UnrecognizedTaxBenefitsDeferredTaxLiabilitiesGross
282700000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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208500000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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129500000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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75800000 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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36600000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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39200000 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 usd
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0 usd
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 usd
CY2022Q4 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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9100000 usd
CY2022Q4 vrtx Indemnification Claims
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0 usd
CY2022Q4 vrtx Contingent Liabilities
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0 usd
CY2021Q4 vrtx Contingent Liabilities
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0 usd
CY2022 us-gaap Number Of Operating Segments
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1 segment
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1455800000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1424400000 usd

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