10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BRISTOL MYERS SQUIBB CO | |||
Ticker: BMY Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| EARNINGS | |||
| Net Sales | $ 19,484 | 18,808 | 17,715 |
| Cost of products sold | 5,277 | 5,140 | 5,316 |
| Marketing, selling and administrative | 3,686 | 3,946 | 4,140 |
| Research and development | 3,566 | 3,647 | 3,512 |
| Advertising and product promotion | 977 | 1,136 | 1,181 |
| Acquired in-process research and development | 32 | ||
| Provision for restructuring, net | 113 | 136 | 215 |
| Litigation expense, net | (19) | 132 | 33 |
| Equity in net income of affiliates | (313) | (550) | (617) |
| Gain on sale of ImClone shares | (895) | ||
| Other (income)/expense | 126 | (381) | 22 |
| Total Expenses | 13,413 | 13,206 | 12,939 |
| Earnings from Continuing Operations Before Income Taxes | 6,071 | 5,602 | 4,776 |
| Provision for income taxes | 1,558 | 1,182 | 1,090 |
| Net Earnings from Continuing Operations | 4,513 | 4,420 | 3,686 |
| Discontinued Operations: | |||
| Earnings, net of taxes | 285 | 578 | |
| Gain on disposal, net of taxes | 7,157 | 1,979 | |
| Net Earnings from Discontinued Operations | 7,442 | 2,557 | |
| Net Earnings | 4,513 | 11,862 | 6,243 |
| Net Earnings Attributable to Noncontrolling Interest | 1,411 | 1,250 | 996 |
| Net Earnings Attributable to Bristol-Myers Squibb Company | 3,102 | 10,612 | 5,247 |
| Amounts Attributable to Bristol-Myers Squibb Company: | |||
| Net Earnings from Continuing Operations | 3,102 | 3,239 | 2,697 |
| Net Earnings from Discontinued Operations | 7,373 | 2,550 | |
| Net Earnings Attributable to Bristol-Myers Squibb Company | 3,102 | 10,612 | 5,247 |
| Earnings per Common Share from Continuing Operations Attributable to Bristol-Myers Squibb Company: | |||
| Basic | 1.80 | 1.63 | 1.36 |
| Diluted | 1.79 | 1.63 | 1.35 |
| Earnings per Common Share Attributable to Bristol-Myers Squibb Company: | |||
| Basic | 1.80 | 5.35 | 2.64 |
| Diluted | 1.79 | 5.34 | 2.62 |
| Dividends declared per common share | 1.29 | 1.25 | 1.24 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BRISTOL MYERS SQUIBB CO | |||
Ticker: BMY Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME AND RETAINED EARNINGS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| COMPREHENSIVE INCOME | |||
| Net Earnings | $ 4,513 | 11,862 | 6,243 |
| Other Comprehensive Income/(Loss): | |||
| Foreign currency translation | 37 | 159 | (123) |
| Foreign currency translation reclassified to net earnings due to business divestitures | (40) | (12) | |
| Foreign currency translation on hedge of a net investment | 84 | (38) | 36 |
| Derivatives qualifying as cash flow hedges, net of taxes of $(3) in 2010, $9 in 2009 and $(3) in 2008 | 15 | (19) | 9 |
| Derivatives qualifying as cash flow hedges reclassified to net earnings, net of taxes of $5 in 2010, $5 in 2009 and $(23) in 2008 | (5) | (27) | 42 |
| Derivatives reclassified to net earnings due to business divestitures, net of taxes of ($1) in 2009 | 2 | ||
| Pension and postretirement benefits, net of taxes of $66 in 2010, $41 in 2009 and $697 in 2008 | (88) | (115) | (1,387) |
| Pension and postretirement benefits reclassified to net earnings, net of taxes of $(44) in 2010, $(49) in 2009 and $(50) in 2008 | 83 | 109 | 102 |
| Pension and postretirement benefits reclassified to net earnings due to business divestitures, net of taxes of $(62) in 2009 | 106 | ||
| Available for sale securities, net of taxes of $(3) in 2010, $(4) in 2009 and $0 in 2008 | 44 | 35 | (106) |
| Available for sale securities reclassified to net earnings, net of taxes of $(3) in 2009 and $(6) in 2008 | 6 | 181 | |
| Total Other Comprehensive Income/(Loss) | 170 | 178 | (1,258) |
| Comprehensive Income | 4,683 | 12,040 | 4,985 |
| Comprehensive Income Attributable to Noncontrolling Interest | 1,411 | 1,260 | 996 |
| Comprehensive Income Attributable to Bristol-Myers Squibb Company | 3,272 | 10,780 | 3,989 |
| RETAINED EARNINGS | |||
| Retained Earnings at January 1 | 30,760 | 22,549 | |
| Net Earnings Attributable to Bristol-Myers Squibb Company | 3,102 | 10,612 | 5,247 |
| Cash dividends declared | (2,226) | (2,401) | (2,460) |
| Retained Earnings at December 31 | 31,636 | 30,760 | 22,549 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BRISTOL MYERS SQUIBB CO | |||
Ticker: BMY Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash Flows From Operating Activities: | |||
| Net earnings | $ 4,513 | 11,862 | 6,243 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Net earnings attributable to noncontrolling interest | (1,411) | (1,250) | (996) |
| Depreciation | 473 | 469 | 562 |
| Amortization | 271 | 238 | 254 |
| Deferred income tax expense | 422 | 163 | 1,430 |
| Stock-based compensation expense | 193 | 183 | 181 |
| Acquired in-process research and development | 32 | ||
| Impairment charges | 228 | 349 | |
| Gain related to divestitures of discontinued operations | (7,275) | (3,412) | |
| Gain on sale of ImClone shares | (895) | ||
| Other gains | (32) | (367) | (158) |
| Changes in operating assets and liabilities: | |||
| Receivables | (270) | 227 | (360) |
| Inventories | 156 | 82 | 130 |
| Accounts payable | 315 | 472 | 253 |
| Deferred income | 117 | 135 | 61 |
| U.S. and foreign income taxes payable | (236) | 58 | 371 |
| Other | (248) | (932) | (338) |
| Net Cash Provided by Operating Activities | 4,491 | 4,065 | 3,707 |
| Cash Flows From Investing Activities: | |||
| Proceeds from sale and maturities of marketable securities | 3,197 | 2,075 | 560 |
| Purchases of marketable securities | (5,823) | (3,489) | (422) |
| Additions to property, plant and equipment and capitalized software | (424) | (730) | (941) |
| Proceeds from sale of businesses, property, plant and equipment and other investments | 67 | 557 | 309 |
| Proceeds from divestitures of discontinued operations | 4,530 | ||
| Mead Johnson's cash at split-off | (561) | ||
| Purchase of businesses, net of cash acquired | (829) | (2,232) | (191) |
| Proceeds from sale of ImClone shares | 1,007 | ||
| Proceeds from sale and leaseback of properties | 227 | ||
| Net Cash (Used in)/Provided by Investing Activities | (3,812) | (4,380) | 5,079 |
| Cash Flows From Financing Activities: | |||
| Short-term debt repayments | (33) | (26) | (1,688) |
| Long-term debt borrowings | 6 | 1,683 | 1,580 |
| Long-term debt repayments | (936) | (212) | (229) |
| Interest rate swap terminations | 146 | 194 | 211 |
| Issuances of common stock and excess tax benefits from share-based arrangements | 252 | 45 | 5 |
| Common stock repurchases | (576) | ||
| Dividends paid | (2,202) | (2,483) | (2,461) |
| Proceeds from Mead Johnson initial public offering | 782 | ||
| Net Cash Used in Financing Activities | (3,343) | (17) | (2,582) |
| Effect of Exchange Rates on Cash and Cash Equivalents | 14 | 39 | (29) |
| (Decrease)/Increase in Cash and Cash Equivalents | (2,650) | (293) | 6,175 |
| Cash and Cash Equivalents at Beginning of Year | 7,683 | 7,976 | |
| Cash and Cash Equivalents at End of Year | 5,033 | 7,683 | 7,976 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BRISTOL MYERS SQUIBB CO | ||
Ticker: BMY Fiscal Year: 2010 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $ 5,033 | 7,683 |
| Marketable securities | 2,268 | 831 |
| Receivables | 3,480 | 3,164 |
| Inventories | 1,204 | 1,413 |
| Deferred income taxes | 1,036 | 611 |
| Prepaid expenses | 252 | 256 |
| Total Current Assets | 13,273 | 13,958 |
| Property, plant and equipment | 4,664 | 5,055 |
| Goodwill | 5,233 | 5,218 |
| Other intangible assets | 3,370 | 2,865 |
| Deferred income taxes | 850 | 1,636 |
| Marketable securities | 2,681 | 1,369 |
| Other assets | 1,005 | 907 |
| Total Assets | 31,076 | 31,008 |
| LIABILITIES | ||
| Current Liabilities: | ||
| Short-term borrowings | 117 | 231 |
| Accounts payable | 1,983 | 1,711 |
| Accrued expenses | 2,740 | 2,785 |
| Deferred income | 402 | 237 |
| Accrued rebates and returns | 857 | 622 |
| U.S. and foreign income taxes payable | 65 | 175 |
| Dividends payable | 575 | 552 |
| Total Current Liabilities | 6,739 | 6,313 |
| Pension, postretirement and postemployment liabilities | 1,297 | 1,658 |
| Deferred income | 895 | 949 |
| U.S. and foreign income taxes payable | 755 | 751 |
| Other liabilities | 424 | 422 |
| Long-term debt | 5,328 | 6,130 |
| Total Liabilities | 15,438 | 16,223 |
| Commitments and contingencies (Note 26) | ||
| EQUITY | ||
| Bristol-Myers Squibb Company Shareholders' Equity: | ||
| Preferred stock, $2 convertible series, par value $1 per share: Authorized 10 million shares; issued and outstanding 5,269 in 2010 and 5,515 in 2009, liquidation value of $50 per share | ||
| Common stock, par value of $0.10 per share: Authorized 4.5 billion shares; 2.2 billion issued in both 2010 and 2009 | 220 | 220 |
| Capital in excess of par value of stock | 3,682 | 3,768 |
| Accumulated other comprehensive loss | (2,371) | (2,541) |
| Retained earnings | 31,636 | 30,760 |
| Less cost of treasury stock - 501 million common shares in 2010 and 491 million in 2009 | (17,454) | (17,364) |
| Total Bristol-Myers Squibb Company Shareholders' Equity | 15,713 | 14,843 |
| Noncontrolling interest | 75 | 58 |
| Total Equity | 15,638 | 14,785 |
| Total Liabilities and Equity | 31,076 | 31,008 |
| External Links | |
| BRISTOL MYERS SQUIBB CO (BMY) Fiscal Year 2010 | |
| 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 |