$VTRS
Viatris Inc

2023 Q2 Form 10-Q Financial Statement

#000179204423000017 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $3.919B $3.729B $3.876B
YoY Change -4.81% -11.04% -10.72%
Cost Of Revenue $2.197B $2.187B $2.286B
YoY Change -8.97% -9.65% -10.67%
Gross Profit $1.722B $1.542B $1.590B
YoY Change 1.07% -12.93% -10.81%
Gross Profit Margin 43.93% 41.36% 41.02%
Selling, General & Admin $954.0M $958.9M $1.056B
YoY Change -2.76% 4.76% 9.3%
% of Gross Profit 55.42% 62.18% 66.44%
Research & Development $207.9M $182.9M $180.9M
YoY Change 27.86% 28.53% -7.09%
% of Gross Profit 12.08% 11.86% 11.38%
Depreciation & Amortization $686.7M $730.0M $869.8M
YoY Change -4.93% -0.82% 16.0%
% of Gross Profit 39.89% 47.33% 54.7%
Operating Expenses $1.162B $1.142B $1.237B
YoY Change 0.63% 7.39% 6.55%
Operating Profit $559.6M $399.8M $352.8M
YoY Change 1.99% -43.48% -43.24%
Interest Expense -$143.7M $147.0M -$147.1M
YoY Change -198.49% 0.55% -5.22%
% of Operating Profit -25.68% 36.77% -41.7%
Other Income/Expense, Net $173.3M $69.90M $1.813B
YoY Change -1383.7% -307.42% 5139.6%
Pretax Income $333.0M $322.7M $1.469B
YoY Change -14.46% -38.82% -820.4%
Income Tax $69.00M $98.00M $457.7M
% Of Pretax Income 20.72% 30.37% 31.16%
Net Earnings $264.0M $224.7M $1.011B
YoY Change -15.9% -43.71% -483.32%
Net Earnings / Revenue 6.74% 6.03% 26.09%
Basic Earnings Per Share $0.22 $0.19
Diluted Earnings Per Share $0.22 $0.19 $0.83
COMMON SHARES
Basic Shares Outstanding 1.199B shares 1.197B shares 1.213B shares
Diluted Shares Outstanding 1.204B shares 1.206B shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $711.4M $587.6M $1.295B
YoY Change -4.11% -29.8% 75.17%
Cash & Equivalents $629.2M $506.6M $1.260B
Short-Term Investments $82.20M $81.00M $35.30M
Other Short-Term Assets $1.818B $1.350B $1.404B
YoY Change 58.7% 11.78% -4.3%
Inventory $3.642B $3.664B $3.520B
Prepaid Expenses $205.8M $239.7M $194.6M
Receivables $3.124B $3.498B $3.815B
Other Receivables $483.6M $475.6M $570.7M
Total Short-Term Assets $9.778B $9.630B $10.64B
YoY Change -12.51% -18.0% -2.45%
LONG-TERM ASSETS
Property, Plant & Equipment $3.234B $3.008B $3.025B
YoY Change 4.85% -4.52% -5.15%
Goodwill $10.53B $10.57B $10.43B
YoY Change 0.09% -3.69% -13.93%
Intangibles $22.08B $22.70B $22.61B
YoY Change -8.37% -10.1% -13.5%
Long-Term Investments $154.2M $94.00M
YoY Change
Other Assets $2.913B $2.418B $2.404B
YoY Change 192.01% 129.0% 105.3%
Total Long-Term Assets $38.92B $39.66B $39.39B
YoY Change -2.58% -4.94% -10.36%
TOTAL ASSETS
Total Short-Term Assets $9.778B $9.630B $10.64B
Total Long-Term Assets $38.92B $39.66B $39.39B
Total Assets $48.70B $49.29B $50.02B
YoY Change -4.75% -7.81% -8.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.310B $1.415B $1.158B
YoY Change 24.64% 52.46% 9.65%
Accrued Expenses $2.001B $2.130B $2.189B
YoY Change -17.57% -25.22% -32.16%
Deferred Revenue
YoY Change
Short-Term Debt $23.20M $204.6M $0.00
YoY Change -97.72% -68.78% -100.0%
Long-Term Debt Due $1.326B $508.7M $1.259B
YoY Change 72.56% -80.48% -32.94%
Total Short-Term Liabilities $6.524B $6.108B $6.746B
YoY Change -15.07% -36.66% -31.75%
LONG-TERM LIABILITIES
Long-Term Debt $17.25B $18.07B $18.02B
YoY Change -10.21% -3.69% -8.63%
Other Long-Term Liabilities $1.674B $1.720B $1.757B
YoY Change -7.71% -8.73% -9.16%
Total Long-Term Liabilities $18.92B $19.79B $19.77B
YoY Change -9.99% -4.15% -8.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.524B $6.108B $6.746B
Total Long-Term Liabilities $18.92B $19.79B $19.77B
Total Liabilities $27.85B $28.36B $28.95B
YoY Change -11.07% -14.1% -15.72%
SHAREHOLDERS EQUITY
Retained Earnings $5.369B $5.253B $5.176B
YoY Change 30.74% 33.26% 40.31%
Common Stock $12.20M $12.20M $12.10M
YoY Change 0.83% 0.83% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $251.8M $251.8M $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $20.84B $20.93B $21.07B
YoY Change
Total Liabilities & Shareholders Equity $48.70B $49.29B $50.02B
YoY Change -4.75% -7.81% -8.79%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $264.0M $224.7M $1.011B
YoY Change -15.9% -43.71% -483.32%
Depreciation, Depletion And Amortization $686.7M $730.0M $869.8M
YoY Change -4.93% -0.82% 16.0%
Cash From Operating Activities $514.9M $971.2M $142.6M
YoY Change -35.84% -14.69% -72.74%
INVESTING ACTIVITIES
Capital Expenditures $89.00M $47.80M $165.9M
YoY Change -199.44% -25.89% -174.93%
Acquisitions $667.7M
YoY Change
Other Investing Activities $12.40M $34.70M $1.950B
YoY Change 67.57% 368.92% 84700.0%
Cash From Investing Activities -$76.60M -$749.5M $1.785B
YoY Change -6.7% 1020.33% -914.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $750.1M
YoY Change 750000.0%
Cash From Financing Activities -303.5M -$974.7M -1.331B
YoY Change -61.07% -3.4% 281.04%
NET CHANGE
Cash From Operating Activities 514.9M $971.2M 142.6M
Cash From Investing Activities -76.60M -$749.5M 1.785B
Cash From Financing Activities -303.5M -$974.7M -1.331B
Net Change In Cash 134.8M -$751.8M 596.5M
YoY Change -327.7% -1568.36% -1419.69%
FREE CASH FLOW
Cash From Operating Activities $514.9M $971.2M $142.6M
Capital Expenditures $89.00M $47.80M $165.9M
Free Cash Flow $425.9M $923.4M -$23.30M
YoY Change -52.25% -14.02% -103.13%

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