$ZBH
Zimmer Biomet Holdings Inc

2021 Q2 Form 10-Q Financial Statement

#000156459021040242 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $1.763B $1.226B
YoY Change 43.81% -38.34%
Cost Of Revenue $496.2M $424.5M
YoY Change 16.89% -26.97%
Gross Profit $1.267B $653.9M
YoY Change 93.78% -48.12%
Gross Profit Margin 71.86% 53.33%
Selling, General & Admin $696.8M $665.0M
YoY Change 4.78% -20.86%
% of Gross Profit 54.99% 101.7%
Research & Development $165.0M $87.70M
YoY Change 88.14% -21.77%
% of Gross Profit 13.02% 13.41%
Depreciation & Amortization $202.8M $255.7M
YoY Change -20.69% 1.07%
% of Gross Profit 16.01% 39.1%
Operating Expenses $861.8M $900.4M
YoY Change -4.29% -5.46%
Operating Profit $224.8M -$171.7M
YoY Change -230.93% -183.88%
Interest Expense -$54.70M -$54.00M
YoY Change 1.3% -19.52%
% of Operating Profit -24.33%
Other Income/Expense, Net $8.000M $3.800M
YoY Change 110.53% -180.85%
Pretax Income $178.1M -$221.9M
YoY Change -180.26% -258.16%
Income Tax $33.30M -$13.70M
% Of Pretax Income 18.7%
Net Earnings $141.9M -$206.6M
YoY Change -168.68% -254.53%
Net Earnings / Revenue 8.05% -16.85%
Basic Earnings Per Share $0.68 -$1.00
Diluted Earnings Per Share $0.67 -$1.00
COMMON SHARES
Basic Shares Outstanding 208.6M 206.8M
Diluted Shares Outstanding 210.7M 206.8M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.042B $713.0M
YoY Change 46.2% 76.92%
Cash & Equivalents $1.042B $713.4M
Short-Term Investments
Other Short-Term Assets $361.0M $432.0M
YoY Change -16.44% 8.82%
Inventory $2.533B $2.497B
Prepaid Expenses
Receivables $1.420B $1.065B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.357B $4.707B
YoY Change 13.8% 7.19%
LONG-TERM ASSETS
Property, Plant & Equipment $2.005B $2.057B
YoY Change -2.49% 1.02%
Goodwill $9.248B $8.982B
YoY Change 2.95% -6.37%
Intangibles $6.643B
YoY Change
Long-Term Investments
YoY Change
Other Assets $970.9M $965.0M
YoY Change 0.61% 46.04%
Total Long-Term Assets $18.87B $18.94B
YoY Change -0.39% -4.41%
TOTAL ASSETS
Total Short-Term Assets $5.357B $4.707B
Total Long-Term Assets $18.87B $18.94B
Total Assets $24.22B $23.65B
YoY Change 2.43% -2.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $360.6M $363.0M
YoY Change -0.66% 4.46%
Accrued Expenses $215.0M
YoY Change 241.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.050B $450.0M
YoY Change 133.33% -77.5%
Total Short-Term Liabilities $2.929B $2.161B
YoY Change 35.5% -41.24%
LONG-TERM LIABILITIES
Long-Term Debt $6.803B $7.759B
YoY Change -12.33% 15.48%
Other Long-Term Liabilities $604.5M $588.9M
YoY Change 2.65% 13.56%
Total Long-Term Liabilities $7.407B $8.348B
YoY Change -11.27% 15.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.929B $2.161B
Total Long-Term Liabilities $7.407B $8.348B
Total Liabilities $11.64B $12.00B
YoY Change -3.03% -4.3%
SHAREHOLDERS EQUITY
Retained Earnings $10.33B $9.610B
YoY Change 7.5% -1.66%
Common Stock $9.252B $9.017B
YoY Change 2.6% 2.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.718B $6.720B
YoY Change -0.03% -0.02%
Treasury Stock Shares $103.8M $103.8M
Shareholders Equity $12.58B $11.64B
YoY Change
Total Liabilities & Shareholders Equity $24.22B $23.65B
YoY Change 2.43% -2.31%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $141.9M -$206.6M
YoY Change -168.68% -254.53%
Depreciation, Depletion And Amortization $202.8M $255.7M
YoY Change -20.69% 1.07%
Cash From Operating Activities $453.9M -$52.80M
YoY Change -959.66% -117.54%
INVESTING ACTIVITIES
Capital Expenditures -$73.70M -$92.60M
YoY Change -20.41% -72.57%
Acquisitions
YoY Change
Other Investing Activities -$36.20M $7.300M
YoY Change -595.89% -52.6%
Cash From Investing Activities -$109.9M -$85.30M
YoY Change 28.84% -73.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.30M -1.586B
YoY Change -98.22% 869.25%
NET CHANGE
Cash From Operating Activities 453.9M -52.80M
Cash From Investing Activities -109.9M -85.30M
Cash From Financing Activities -28.30M -1.586B
Net Change In Cash 315.7M -1.724B
YoY Change -118.31% 832.79%
FREE CASH FLOW
Cash From Operating Activities $453.9M -$52.80M
Capital Expenditures -$73.70M -$92.60M
Free Cash Flow $527.6M $39.80M
YoY Change 1225.63% -93.77%

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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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