$ZBH
Zimmer Biomet Holdings Inc

2023 Q4 Form 10-Q Financial Statement

#000095017023060232 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.940B $1.754B
YoY Change 6.3% 5.02%
Cost Of Revenue $538.8M $518.6M
YoY Change 3.56% 6.23%
Gross Profit $1.401B $1.235B
YoY Change 7.4% 4.52%
Gross Profit Margin 72.23% 70.43%
Selling, General & Admin $722.3M $674.9M
YoY Change -0.66% 3.05%
% of Gross Profit 51.54% 54.65%
Research & Development $113.3M $116.9M
YoY Change 4.91% 14.95%
% of Gross Profit 8.09% 9.47%
Depreciation & Amortization $241.2M $241.2M
YoY Change 5.56% 4.24%
% of Gross Profit 17.21% 19.53%
Operating Expenses $980.5M $791.8M
YoY Change 1.44% 4.65%
Operating Profit $420.8M $266.6M
YoY Change 24.42% 8.68%
Interest Expense -$50.30M -$51.10M
YoY Change 18.08% 20.8%
% of Operating Profit -11.95% -19.17%
Other Income/Expense, Net -$19.50M $3.800M
YoY Change 400.0% -114.96%
Pretax Income $284.4M $219.2M
YoY Change -480.21% 23.42%
Income Tax -$135.2M $56.40M
% Of Pretax Income -47.54% 25.73%
Net Earnings $419.2M $162.7M
YoY Change -421.23% -16.13%
Net Earnings / Revenue 21.61% 9.28%
Basic Earnings Per Share $0.78
Diluted Earnings Per Share $2.01 $0.77
COMMON SHARES
Basic Shares Outstanding 209.0M 209.0M
Diluted Shares Outstanding 210.0M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $415.8M $292.1M
YoY Change 10.67% -46.44%
Cash & Equivalents $415.8M $292.1M
Short-Term Investments
Other Short-Term Assets $366.1M $415.9M
YoY Change -29.99% -28.53%
Inventory $2.385B $2.323B
Prepaid Expenses
Receivables $1.442B $1.341B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.610B $4.372B
YoY Change 4.12% -3.58%
LONG-TERM ASSETS
Property, Plant & Equipment $2.060B $2.032B
YoY Change 10.03% 12.8%
Goodwill $8.819B $8.710B
YoY Change 2.78% -1.0%
Intangibles $4.856B $4.892B
YoY Change -4.1% -4.77%
Long-Term Investments
YoY Change
Other Assets $1.152B $1.211B
YoY Change 2.66% 14.03%
Total Long-Term Assets $16.89B $16.85B
YoY Change 1.49% 0.28%
TOTAL ASSETS
Total Short-Term Assets $4.610B $4.372B
Total Long-Term Assets $16.89B $16.85B
Total Assets $21.50B $21.22B
YoY Change 2.05% -0.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $410.6M $319.7M
YoY Change 15.96% -4.25%
Accrued Expenses $627.7M
YoY Change 7.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $900.0M $355.0M
YoY Change 65.35% -46.14%
Total Short-Term Liabilities $2.858B $2.072B
YoY Change 21.17% -9.77%
LONG-TERM LIABILITIES
Long-Term Debt $4.868B $5.127B
YoY Change -5.52% 1.43%
Other Long-Term Liabilities $1.283B $631.9M
YoY Change 102.88% 3.81%
Total Long-Term Liabilities $6.151B $5.759B
YoY Change 6.34% 1.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.858B $2.072B
Total Long-Term Liabilities $6.151B $5.759B
Total Liabilities $9.009B $8.699B
YoY Change -0.33% -4.22%
SHAREHOLDERS EQUITY
Retained Earnings $10.38B $10.01B
YoY Change 8.63% 2.82%
Common Stock $9.849B $9.805B
YoY Change 3.6% 3.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.562B $7.122B
YoY Change 10.12% 6.03%
Treasury Stock Shares
Shareholders Equity $12.49B $12.51B
YoY Change
Total Liabilities & Shareholders Equity $21.50B $21.22B
YoY Change 2.05% -0.54%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $419.2M $162.7M
YoY Change -421.23% -16.13%
Depreciation, Depletion And Amortization $241.2M $241.2M
YoY Change 5.56% 4.24%
Cash From Operating Activities $588.4M $337.6M
YoY Change 140.95% -25.11%
INVESTING ACTIVITIES
Capital Expenditures $141.7M $161.9M
YoY Change 9.42% -236.28%
Acquisitions
YoY Change
Other Investing Activities -$79.10M -$3.700M
YoY Change -565.29% -111.01%
Cash From Investing Activities -$220.8M -$165.6M
YoY Change 96.27% 94.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -251.4M -196.0M
YoY Change -19.78% 1.08%
NET CHANGE
Cash From Operating Activities 588.4M 337.6M
Cash From Investing Activities -220.8M -165.6M
Cash From Financing Activities -251.4M -196.0M
Net Change In Cash 116.2M -24.00M
YoY Change -163.95% -113.98%
FREE CASH FLOW
Cash From Operating Activities $588.4M $337.6M
Capital Expenditures $141.7M $161.9M
Free Cash Flow $446.7M $175.7M
YoY Change 289.45% -69.15%

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<p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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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