10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2022 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | |||
| Revenues | $ 44,915 | 39,211 | 32,218 |
| Costs and operating expenses: | |||
| Selling, general and administrative expenses | 8,993 | 8,007 | 6,930 |
| Research and development expenses | 1,471 | 1,406 | 1,181 |
| Restructuring and other costs | 114 | 197 | 99 |
| Total costs and operating expenses | 36,522 | 29,183 | 24,424 |
| Operating income | 8,393 | 10,028 | 7,794 |
| Interest income | 272 | 43 | 65 |
| Interest expense | (726) | (536) | (553) |
| Other income/(expense) | (104) | (694) | (76) |
| Income before income taxes | 7,835 | 8,841 | 7,230 |
| Provision for income taxes | (703) | (1,109) | (850) |
| Equity in earnings/(losses) of unconsolidated entities | (172) | (4) | (3) |
| Net income | 6,960 | 7,728 | 6,377 |
| Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest | 10 | 3 | 2 |
| Net income attributable to Thermo Fisher Scientific Inc. | 6,950 | 7,725 | 6,375 |
| Earnings per share attributable to Thermo Fisher Scientific Inc. | |||
| Basic (in dollars per share) | 17.75 | 19.62 | 16.09 |
| Diluted (in dollars per share) | 17.63 | 19.46 | 15.96 |
| Weighted average shares | |||
| Basic (in shares) | 392 | 394 | 396 |
| Diluted (in shares) | 394 | 397 | 399 |
| Product and Service | |||
| Product revenues | |||
| Revenues | 28,548 | 30,361 | 25,306 |
| Cost of revenues | 14,247 | 13,594 | 11,407 |
| Service revenues | |||
| Revenues | 16,367 | 8,850 | 6,912 |
| Cost of revenues | 11,697 | 5,979 | 4,807 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2022 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Comprehensive income | |||
| Net income | $ 6,960 | 7,728 | 6,377 |
| Other comprehensive items: | |||
| Currency translation adjustment: | |||
| Currency translation adjustment (net of tax provision (benefit) of $173, $231 and $(221)) | (822) | 373 | (118) |
| Unrealized gains and losses on hedging instruments: | |||
| Unrealized losses on hedging instruments (net of tax benefit of $0, $0 and $20) | 0 | 0 | (65) |
| Reclassification adjustment for losses included in net income (net of tax benefit of $1, $17 and $14) | 2 | 56 | 45 |
| Pension and other postretirement benefit liability adjustments: | |||
| Pension and other postretirement benefit liability adjustments arising during the period (net of tax provision (benefit) of $9, $11 and $(1)) | 38 | 36 | (8) |
| Amortization of net loss and prior service benefit included in net periodic pension cost (net of tax benefit of $3, $6 and $4) | 5 | 13 | 18 |
| Total other comprehensive items | (777) | 478 | (128) |
| Comprehensive income | 6,183 | 8,206 | 6,249 |
| Less: comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 3 | 2 | 2 |
| Comprehensive income attributable to Thermo Fisher Scientific Inc. | 6,180 | 8,204 | 6,247 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities | |||
| Net income | $ 6,960 | 7,728 | 6,377 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property, plant and equipment | 986 | 831 | 658 |
| Amortization of acquisition-related intangible assets | 2,395 | 1,761 | 1,667 |
| Change in deferred income taxes | (995) | (647) | (552) |
| Stock-based compensation | 307 | 230 | 196 |
| Loss on early extinguishment of debt | 26 | 767 | 0 |
| Other non-cash expenses | 524 | 190 | 338 |
| Changes in assets and liabilities, excluding the effects of acquisitions and disposition: | |||
| Accounts receivable | (430) | (204) | (1,302) |
| Inventories | (825) | (1,065) | (508) |
| Accounts payable | 648 | 479 | 59 |
| Contributions to retirement plans | (41) | (34) | (96) |
| Other | (401) | (724) | 1,452 |
| Net cash provided by operating activities | 9,154 | 9,312 | 8,289 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (39) | (19,395) | (38) |
| Purchase of property, plant and equipment | (2,243) | (2,523) | (1,474) |
| Proceeds from sale of property, plant and equipment | 24 | 20 | 8 |
| Other investing activities, net | 99 | (34) | (6) |
| Net cash used in investing activities | (2,159) | (21,932) | (1,510) |
| Financing activities | |||
| Net proceeds from issuance of debt | 3,193 | 18,137 | 3,464 |
| Repayment of debt | (375) | (11,738) | (710) |
| Proceeds from issuance of commercial paper | 1,526 | 2,512 | 383 |
| Repayments of commercial paper | (3,690) | 0 | (387) |
| Purchases of company common stock | (3,000) | (2,000) | (1,500) |
| Dividends paid | (455) | (395) | (337) |
| Other financing activities, net | (9) | 65 | 46 |
| Net cash (used in) provided by financing activities | (2,810) | 6,581 | 959 |
| Exchange rate effect on cash | (139) | 194 | 176 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 4,046 | (5,845) | 7,914 |
| Cash, cash equivalents and restricted cash at beginning of year | 4,491 | 10,336 | |
| Cash, cash equivalents and restricted cash at end of year | 8,537 | 4,491 | 10,336 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
THERMO FISHER SCIENTIFIC INC. | ||
Ticker: TMO Fiscal Year: 2022 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 8,524 | 4,477 |
| Accounts receivable, less allowances of $189 and $150 | 8,115 | 7,977 |
| Inventories | 5,634 | 5,051 |
| Contract assets, net | 1,312 | 968 |
| Other current assets | 1,644 | 1,640 |
| Total current assets | 25,229 | 20,113 |
| Property, plant and equipment, net | 9,280 | 8,333 |
| Acquisition-related intangible assets, net | 17,442 | 20,113 |
| Other assets | 4,007 | 4,640 |
| Goodwill | 41,196 | 41,924 |
| Total assets | 97,154 | 95,123 |
| Liabilities, redeemable noncontrolling interest and equity | ||
| Current liabilities: | ||
| Short-term obligations and current maturities of long-term obligations | 5,579 | 2,537 |
| Accounts payable | 3,381 | 2,867 |
| Accrued payroll and employee benefits | 2,095 | 2,427 |
| Contract liabilities | 2,601 | 2,655 |
| Other accrued expenses | 3,354 | 2,950 |
| Total current liabilities | 17,010 | 13,436 |
| Deferred income taxes | 2,849 | 3,837 |
| Other long-term liabilities | 4,238 | 4,540 |
| Long-term obligations | 28,909 | 32,333 |
| Commitments and Contingencies | ||
| Redeemable noncontrolling interest | 116 | 122 |
| Equity: | ||
| Thermo Fisher Scientific Inc. shareholders equity: | ||
| Preferred stock, $100 par value, 50,000 shares authorized; none issued | ||
| Common stock, $1 par value, 1,200,000,000 shares authorized; 440,668,112 and 439,154,741 shares issued | 441 | 439 |
| Capital in excess of par value | 16,743 | 16,174 |
| Retained earnings | 41,910 | 35,431 |
| Treasury stock at cost, 50,157,275 and 44,720,112 shares | (12,017) | (8,922) |
| Accumulated other comprehensive items | (3,099) | (2,329) |
| Total Thermo Fisher Scientific Inc. shareholders equity | 43,978 | 40,793 |
| Noncontrolling interests | 54 | 62 |
| Total equity | 44,032 | 40,855 |
| Total liabilities, redeemable noncontrolling interest and equity | 97,154 | 95,123 |
| External Links | |
| THERMO FISHER SCIENTIFIC INC. (TMO) Fiscal Year 2022 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |