10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2014 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Sales | $ 42,237 | 44,033 | 47,267 |
| Costs, Expenses and Other | |||
| Materials and production | 16,768 | 16,954 | 16,446 |
| Marketing and administrative | 11,606 | 11,911 | 12,776 |
| Research and development | 7,180 | 7,503 | 8,168 |
| Restructuring costs | 1,013 | 1,709 | 664 |
| Equity income from affiliates | (257) | (404) | (642) |
| Other (income) expense, net | (11,356) | 815 | 1,116 |
| Total Costs, Expenses and Other | 24,954 | 38,488 | 38,528 |
| Income Before Taxes | 17,283 | 5,545 | 8,739 |
| Taxes on Income | 5,349 | 1,028 | 2,440 |
| Net Income | 11,934 | 4,517 | 6,299 |
| Less: Net Income Attributable to Noncontrolling Interests | 14 | 113 | 131 |
| Net Income Attributable to Merck & Co., Inc. | 11,920 | 4,404 | 6,168 |
| Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share) | 4.12 | 1.49 | 2.03 |
| Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share) | 4.07 | 1.47 | 2.00 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2014 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net Income Attributable to Merck & Co., Inc. | $ 11,920 | 4,404 | 6,168 |
| Other Comprehensive Income (Loss) Net of Taxes: | |||
| Net unrealized gain (loss) on derivatives, net of reclassifications | 398 | 229 | (101) |
| Net unrealized gain (loss) on investments, net of reclassifications | 57 | (19) | 52 |
| Benefit plan net (loss) gain and prior service (cost) credit, net of amortization | (2,077) | 2,758 | (1,321) |
| Cumulative translation adjustment | (504) | (483) | (180) |
| Other comprehensive income (loss), net of taxes | (2,126) | 2,485 | (1,550) |
| Comprehensive Income Attributable to Merck & Co., Inc. | 9,794 | 6,889 | 4,618 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2014 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 11,934 | 4,517 | 6,299 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 6,691 | 6,988 | 6,978 |
| Intangible asset impairment charges | 1,222 | 765 | 200 |
| Gain on divestiture of Merck Consumer Care | (11,209) | 0 | 0 |
| Gain on AstraZeneca option exercise | (741) | 0 | 0 |
| Loss on extinguishment of debt | 628 | 0 | 0 |
| Equity income from affiliates | (257) | (404) | (642) |
| Dividends and distributions from equity method affiliates | 185 | 237 | 291 |
| Deferred income taxes | (2,600) | (330) | 669 |
| Share-based compensation | 278 | 276 | 335 |
| Other | (95) | 399 | 28 |
| Net changes in assets and liabilities: | |||
| Accounts receivable | (554) | 436 | 349 |
| Inventories | 79 | (365) | (482) |
| Trade accounts payable | 593 | 522 | (302) |
| Accrued and other current liabilities | 1,635 | (397) | (717) |
| Income taxes payable | (21) | (1,421) | (34) |
| Noncurrent liabilities | 190 | (132) | (1,747) |
| Other | (98) | 563 | (1,203) |
| Net Cash Provided by Operating Activities | 7,860 | 11,654 | 10,022 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (1,317) | (1,548) | (1,954) |
| Purchases of securities and other investments | (24,944) | (17,991) | (12,841) |
| Proceeds from sales of securities and other investments | 15,114 | 16,298 | 7,783 |
| Divestiture of Consumer Care business, net of cash divested | 13,951 | 0 | 0 |
| Dispositions of other businesses, net of cash divested | 1,169 | 46 | 0 |
| Proceeds from AstraZeneca option exercise | 419 | 0 | 0 |
| Acquisition of Idenix Pharmaceuticals, Inc., net of cash acquired | (3,700) | 0 | 0 |
| Acquisitions of other businesses, net of cash acquired | (181) | (246) | 0 |
| Acquisition of Bayer AG collaboration rights | (1,000) | 0 | 0 |
| Cash inflows from net investment hedges | 195 | 350 | 39 |
| Other | (80) | (57) | 168 |
| Net Cash Used in Investing Activities | (374) | (3,148) | (6,805) |
| Cash Flows from Financing Activities | |||
| Net change in short-term borrowings | (460) | (159) | 624 |
| Payments on debt | (6,617) | (1,775) | (22) |
| Proceeds from issuance of debt | 3,146 | 6,467 | 2,562 |
| Purchases of treasury stock | (7,703) | (6,516) | (2,591) |
| Dividends paid to stockholders | (5,170) | (5,157) | (5,116) |
| Other dividends paid | (77) | (120) | (120) |
| Proceeds from exercise of stock options | 1,560 | 1,210 | 1,310 |
| Other | 208 | 60 | 86 |
| Net Cash Used in Financing Activities | (15,113) | (5,990) | (3,267) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (553) | (346) | (30) |
| Net (Decrease) Increase in Cash and Cash Equivalents | (8,180) | 2,170 | (80) |
| Cash and Cash Equivalents at Beginning of Year | 15,621 | 13,451 | |
| Cash and Cash Equivalents at End of Year | 7,441 | 15,621 | 13,451 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MERCK & CO., INC. | ||
Ticker: MRK Fiscal Year: 2014 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 7,441 | 15,621 |
| Short-term investments | 8,278 | 1,865 |
| Accounts receivable (net of allowance for doubtful accounts of $153 in 2014 and $146 in 2013) (excludes accounts receivable of $80 in 2014 and $275 in 2013 classified in Other assets - see Note 5) | 6,626 | 7,184 |
| Inventories (excludes inventories of $1,664 in 2014 and $1,704 in 2013 classified in Other assets - see Note 6) | 5,571 | 6,226 |
| Deferred income taxes and other current assets | 5,257 | 4,789 |
| Total current assets | 33,173 | 35,685 |
| Investments | 13,515 | 9,770 |
| Property, Plant and Equipment (at cost) | ||
| Land | 541 | 550 |
| Buildings | 13,101 | 13,627 |
| Machinery, equipment and office furnishings | 16,050 | 17,106 |
| Construction in progress | 1,448 | 1,811 |
| Property, Plant and Equipment, Gross | 31,140 | 33,094 |
| Less: accumulated depreciation | 18,004 | 18,121 |
| Property, Plant and Equipment, Net, Total | 13,136 | 14,973 |
| Goodwill | 12,992 [1] | 12,301 |
| Other Intangibles, Net | 20,386 | 23,801 |
| Other Assets | 5,133 | 9,115 |
| Total Assets | 98,335 | 105,645 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Loans payable and current portion of long-term debt | 2,704 | 4,521 |
| Trade accounts payable | 2,625 | 2,274 |
| Accrued and other current liabilities | 10,523 | 9,501 |
| Income taxes payable | 1,606 | 251 |
| Dividends payable | 1,308 | 1,321 |
| Total current liabilities | 18,766 | 17,868 |
| Long-Term Debt | 18,699 | 20,539 |
| Deferred Income Taxes | 4,266 | 6,776 |
| Other Noncurrent Liabilities | 7,813 | 8,136 |
| Merck & Co., Inc. Stockholders Equity | ||
| Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2014 and 2013 | 1,788 | 1,788 |
| Other paid-in capital | 40,423 | 40,508 |
| Retained earnings | 46,021 | 39,257 |
| Accumulated other comprehensive loss | (4,323) | (2,197) |
| Stockholders' equity before deduction for treasury stock | 83,909 | 79,356 |
| Less treasury stock, at cost: 738,963,326 shares in 2014 and 649,576,808 shares in 2013 | 35,262 | 29,591 |
| Total Merck & Co., Inc. stockholders equity | 48,647 | 49,765 |
| Noncontrolling Interests | 144 | 2,561 |
| Total equity | 48,791 | 52,326 |
| Total Liabilities and Equity | 98,335 | 105,645 |
| [1] Accumulated goodwill impairment losses at December 31, 2014 were $93 million. | ||
| External Links | |
| MERCK & CO., INC. (MRK) Fiscal Year 2014 | |
| 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 |