$ZBH
Zimmer Biomet Holdings Inc

2023 Q3 Form 10-Q Financial Statement

#000095017023036456 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.754B $1.870B
YoY Change 5.02% 4.93%
Cost Of Revenue $518.6M $525.5M
YoY Change 6.23% 2.84%
Gross Profit $1.235B $1.344B
YoY Change 4.52% 5.77%
Gross Profit Margin 70.43% 71.89%
Selling, General & Admin $674.9M $725.8M
YoY Change 3.05% 4.4%
% of Gross Profit 54.65% 54.0%
Research & Development $116.9M $118.1M
YoY Change 14.95% 18.81%
% of Gross Profit 9.47% 8.79%
Depreciation & Amortization $241.2M $237.5M
YoY Change 4.24% 2.06%
% of Gross Profit 19.53% 17.67%
Operating Expenses $791.8M $982.2M
YoY Change 4.65% 23.61%
Operating Profit $266.6M $361.9M
YoY Change 8.68% 28.84%
Interest Expense -$51.10M -$51.60M
YoY Change 20.8% 32.99%
% of Operating Profit -19.17% -14.26%
Other Income/Expense, Net $3.800M -$1.200M
YoY Change -114.96% -97.18%
Pretax Income $219.2M $276.8M
YoY Change 23.42% 38.75%
Income Tax $56.40M $66.90M
% Of Pretax Income 25.73% 24.17%
Net Earnings $162.7M $209.5M
YoY Change -16.13% 36.3%
Net Earnings / Revenue 9.28% 11.21%
Basic Earnings Per Share $0.78 $1.00
Diluted Earnings Per Share $0.77 $1.00
COMMON SHARES
Basic Shares Outstanding 209.0M 208.6M
Diluted Shares Outstanding 210.0M 209.9M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $292.1M $319.8M
YoY Change -46.44% -17.24%
Cash & Equivalents $292.1M $319.8M
Short-Term Investments
Other Short-Term Assets $415.9M $425.0M
YoY Change -28.53% -36.73%
Inventory $2.323B $2.276B
Prepaid Expenses
Receivables $1.341B $1.367B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.372B $4.388B
YoY Change -3.58% -1.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.032B $1.975B
YoY Change 12.8% 9.93%
Goodwill $8.710B $8.744B
YoY Change -1.0% 17214.26%
Intangibles $4.892B $5.028B
YoY Change -4.77% -5.22%
Long-Term Investments
YoY Change
Other Assets $1.211B $1.160B
YoY Change 14.03% 13.74%
Total Long-Term Assets $16.85B $16.91B
YoY Change 0.28% -0.49%
TOTAL ASSETS
Total Short-Term Assets $4.372B $4.388B
Total Long-Term Assets $16.85B $16.91B
Total Assets $21.22B $21.29B
YoY Change -0.54% -0.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $319.7M $354.6M
YoY Change -4.25% 15.47%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $355.0M $520.0M
YoY Change -46.14% -38.96%
Total Short-Term Liabilities $2.072B $2.234B
YoY Change -9.77% -9.33%
LONG-TERM LIABILITIES
Long-Term Debt $5.127B $5.189B
YoY Change 1.43% 0.34%
Other Long-Term Liabilities $631.9M $1.018B
YoY Change 3.81% 76.9%
Total Long-Term Liabilities $5.759B $6.207B
YoY Change 1.68% 8.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.072B $2.234B
Total Long-Term Liabilities $5.759B $6.207B
Total Liabilities $8.699B $8.923B
YoY Change -4.22% -4.34%
SHAREHOLDERS EQUITY
Retained Earnings $10.01B $9.902B
YoY Change 2.82% 3.08%
Common Stock $9.805B $9.769B
YoY Change 3.57% 3.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.122B $7.122B
YoY Change 6.03% 6.02%
Treasury Stock Shares
Shareholders Equity $12.51B $12.37B
YoY Change
Total Liabilities & Shareholders Equity $21.22B $21.29B
YoY Change -0.54% -0.74%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $162.7M $209.5M
YoY Change -16.13% 36.3%
Depreciation, Depletion And Amortization $241.2M $237.5M
YoY Change 4.24% 2.06%
Cash From Operating Activities $337.6M $347.9M
YoY Change -25.11% -1.3%
INVESTING ACTIVITIES
Capital Expenditures $161.9M $256.1M
YoY Change -236.28% -343.67%
Acquisitions
YoY Change
Other Investing Activities -$3.700M $13.00M
YoY Change -111.01% -109.41%
Cash From Investing Activities -$165.6M -$243.1M
YoY Change 94.37% -0.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -196.0M -109.4M
YoY Change 1.08% -25.07%
NET CHANGE
Cash From Operating Activities 337.6M 347.9M
Cash From Investing Activities -165.6M -243.1M
Cash From Financing Activities -196.0M -109.4M
Net Change In Cash -24.00M -4.600M
YoY Change -113.98% -87.47%
FREE CASH FLOW
Cash From Operating Activities $337.6M $347.9M
Capital Expenditures $161.9M $256.1M
Free Cash Flow $175.7M $91.80M
YoY Change -69.15% -79.94%

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<p style="text-indent:3.333%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> - The accompanying unaudited condensed consolidated financial statements are prepared in conformity with GAAP, which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We have made our best estimates, as appropriate under GAAP, in the recognition of our assets and liabilities. Actual results could differ materially from these estimates.</span></p>
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