$ZBH
Zimmer Biomet Holdings Inc

2021 Q1 Form 10-Q Financial Statement

#000156459021023347 Filed on May 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $1.601B $1.784B
YoY Change -10.23% -9.7%
Cost Of Revenue $516.4M $487.1M
YoY Change 6.02% -11.98%
Gross Profit $1.085B $1.149B
YoY Change -5.58% -10.14%
Gross Profit Margin 67.75% 64.42%
Selling, General & Admin $770.1M $828.9M
YoY Change -7.09% 4.08%
% of Gross Profit 70.98% 72.13%
Research & Development $94.40M $98.40M
YoY Change -4.07% -3.24%
% of Gross Profit 8.7% 8.56%
Depreciation & Amortization $268.7M $253.0M
YoY Change 6.21% 2.14%
% of Gross Profit 24.76% 22.02%
Operating Expenses $1.020B $98.40M
YoY Change 936.59% -87.64%
Operating Profit $258.7M -$456.0M
YoY Change -156.73% -230.21%
Interest Expense -$52.30M -$66.50M
YoY Change -21.35% 6.57%
% of Operating Profit -20.22%
Other Income/Expense, Net $7.300M $3.000M
YoY Change 143.33% -700.0%
Pretax Income $220.6M -$503.9M
YoY Change -143.78% -272.75%
Income Tax $22.90M $5.200M
% Of Pretax Income 10.38%
Net Earnings $198.1M -$508.5M
YoY Change -138.96% -306.62%
Net Earnings / Revenue 12.37% -28.51%
Basic Earnings Per Share $0.95 -$2.46
Diluted Earnings Per Share $0.94 -$2.46
COMMON SHARES
Basic Shares Outstanding 208.0M 206.5M
Diluted Shares Outstanding 210.2M 206.5M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $724.0M $2.434B
YoY Change -70.25% 314.65%
Cash & Equivalents $724.3M $2.434B
Short-Term Investments
Other Short-Term Assets $384.0M $435.0M
YoY Change -11.72% 15.38%
Inventory $2.512B $2.463B
Prepaid Expenses
Receivables $1.380B $1.039B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.000B $6.371B
YoY Change -21.52% 41.6%
LONG-TERM ASSETS
Property, Plant & Equipment $2.022B $2.066B
YoY Change -2.11% 2.56%
Goodwill $9.233B $8.951B
YoY Change 3.15% -6.47%
Intangibles $6.801B
YoY Change
Long-Term Investments
YoY Change
Other Assets $970.2M $1.048B
YoY Change -7.42% 53.37%
Total Long-Term Assets $19.03B $19.14B
YoY Change -0.6% -3.27%
TOTAL ASSETS
Total Short-Term Assets $5.000B $6.371B
Total Long-Term Assets $19.03B $19.14B
Total Assets $24.03B $25.51B
YoY Change -5.83% 5.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $329.8M $405.0M
YoY Change -18.57% 12.16%
Accrued Expenses $235.0M $182.0M
YoY Change 29.12% -28.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0M $1.950B
YoY Change -84.62% 290.0%
Total Short-Term Liabilities $2.089B $3.780B
YoY Change -44.74% 67.63%
LONG-TERM LIABILITIES
Long-Term Debt $7.539B $7.724B
YoY Change -2.4% -7.06%
Other Long-Term Liabilities $1.183B $1.274B
YoY Change -7.14% 139.79%
Total Long-Term Liabilities $7.539B $7.724B
YoY Change -2.4% -12.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.089B $3.780B
Total Long-Term Liabilities $7.539B $7.724B
Total Liabilities $11.58B $13.63B
YoY Change -15.05% 6.94%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.45B $11.88B
YoY Change
Total Liabilities & Shareholders Equity $24.03B $25.51B
YoY Change -5.82% 5.04%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $198.1M -$508.5M
YoY Change -138.96% -306.62%
Depreciation, Depletion And Amortization $268.7M $253.0M
YoY Change 6.21% 2.14%
Cash From Operating Activities $246.5M $450.9M
YoY Change -45.33% 58.99%
INVESTING ACTIVITIES
Capital Expenditures $25.80M $40.20M
YoY Change -35.82% 6.35%
Acquisitions
YoY Change
Other Investing Activities $13.20M $11.60M
YoY Change 13.79% -20.0%
Cash From Investing Activities -$122.3M -$121.2M
YoY Change 0.91% 14.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -195.8M 1.493B
YoY Change -113.12% -1204.14%
NET CHANGE
Cash From Operating Activities 246.5M 450.9M
Cash From Investing Activities -122.3M -121.2M
Cash From Financing Activities -195.8M 1.493B
Net Change In Cash -77.80M 1.816B
YoY Change -104.28% 4026.59%
FREE CASH FLOW
Cash From Operating Activities $246.5M $450.9M
Capital Expenditures $25.80M $40.20M
Free Cash Flow $220.7M $410.7M
YoY Change -46.26% 67.09%

Facts In Submission

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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.33%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates<span style="font-style:normal;"> - 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.  These estimates have considered the impact the COVID-19 pandemic may have on our financial position, results of operations and cash flows.  Such estimates included, but were not limited to, variable consideration to our customers, our allowance for doubtful accounts for expected credit losses, the net realizable value of our inventory, the fair value of our goodwill and the recoverability of other long-lived assets.  Actual results could differ materially from these estimates.</span></p>
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