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: 2020 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Sales | $ 47,994 | 46,840 | 42,294 |
| Costs, Expenses and Other | |||
| Cost of sales | 15,485 | 14,112 | 13,509 |
| Selling, general and administrative | 10,468 | 10,615 | 10,102 |
| Research and development | 13,558 | 9,872 | 9,752 |
| Restructuring costs | 578 | 638 | 632 |
| Other (income) expense, net | (886) | 139 | (402) |
| Total costs, expenses and other | 39,203 | 35,376 | 33,593 |
| Income Before Taxes | 8,791 | 11,464 | 8,701 |
| Taxes on Income | 1,709 | 1,687 | 2,508 |
| Net Income | 7,082 | 9,777 | 6,193 |
| Less: Net Income (Loss) Attributable to Noncontrolling Interests | 15 | (66) | (27) |
| Net Income Attributable to Merck & Co., Inc. | 7,067 | 9,843 | 6,220 |
| Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share) | 2.79 | 3.84 | 2.34 |
| Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share) | 2.78 | 3.81 | 2.32 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2020 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net Income Attributable to Merck & Co., Inc. | $ 7,067 | 9,843 | 6,220 |
| Other Comprehensive Loss Net of Taxes: | |||
| Net unrealized (loss) gain on derivatives, net of reclassifications | (297) | (135) | 297 |
| Net unrealized (loss) gain on investments, net of reclassifications | (18) | 96 | (10) |
| Benefit plan net (loss) gain and prior service (cost) credit, net of amortization | (279) | (705) | (425) |
| Cumulative translation adjustment | 153 | 96 | (223) |
| Other comprehensive income (loss), net of taxes | (441) | (648) | (361) |
| Comprehensive Income Attributable to Merck & Co., Inc. | 6,626 | 9,195 | 5,859 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2020 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 7,082 | 9,777 | 6,193 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization | 1,899 | 1,973 | 3,103 |
| Depreciation | 1,726 | 1,679 | 1,416 |
| Intangible asset impairment charges | 1,718 | 1,040 | 296 |
| Charge for the acquisition of VelosBio Inc. | 2,660 | 0 | 0 |
| Charge for the acquisition of Peloton Therapeutics, Inc. | 0 | 993 | 0 |
| Charge for future payments related to collaboration license options | 0 | 0 | 650 |
| Deferred income taxes | (668) | (556) | (509) |
| Share-based compensation | 475 | 417 | 348 |
| Other | (49) | 184 | 978 |
| Net changes in assets and liabilities: | |||
| Accounts receivable | (1,002) | 294 | (418) |
| Inventories | (855) | (508) | (911) |
| Trade accounts payable | 724 | 399 | 230 |
| Accrued and other current liabilities | (1,138) | 376 | (341) |
| Income taxes payable | 560 | (2,359) | 827 |
| Noncurrent liabilities | (453) | (237) | (266) |
| Other | (2,426) | (32) | (674) |
| Net Cash Provided by Operating Activities | 10,253 | 13,440 | 10,922 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (4,684) | (3,473) | (2,615) |
| Purchase of Seagen Inc. common stock | (1,000) | 0 | 0 |
| Purchases of securities and other investments | (95) | (3,202) | (7,994) |
| Proceeds from sales of securities and other investments | 2,812 | 8,622 | 15,252 |
| Acquisition of VelosBio Inc., net of cash acquired | (2,696) | 0 | 0 |
| Acquisition of ArQule, Inc., net of cash acquired | (2,545) | 0 | 0 |
| Acquisition of Antelliq Corporation, net of cash acquired | 0 | (3,620) | 0 |
| Acquisition of Peloton Therapeutics, Inc., net of cash acquired | 0 | (1,040) | 0 |
| Other acquisitions, net of cash acquired | (1,365) | (294) | (431) |
| Other | 130 | 378 | 102 |
| Net Cash (Used in) Provided by Investing Activities | (9,443) | (2,629) | 4,314 |
| Cash Flows from Financing Activities | |||
| Net change in short-term borrowings | 2,549 | (3,710) | 5,124 |
| Payments on debt | (1,957) | 0 | (4,287) |
| Proceeds from issuance of debt | 4,419 | 4,958 | 0 |
| Purchases of treasury stock | (1,281) | (4,780) | (9,091) |
| Dividends paid to stockholders | (6,215) | (5,695) | (5,172) |
| Proceeds from exercise of stock options | 89 | 361 | 591 |
| Other | (436) | 5 | (325) |
| Net Cash Used in Financing Activities | (2,832) | (8,861) | (13,160) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 253 | 17 | (205) |
| Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (1,769) | 1,967 | 1,871 |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes $258 of restricted cash at January 1, 2020 included in Other Assets - see Note 6) | 9,934 | 7,967 | |
| Cash, Cash Equivalents and Restricted Cash at End of Year (includes $103 of restricted cash at December 31, 2020 included in Other Assets - see Note 6) | 8,165 | 9,934 | 7,967 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MERCK & CO., INC. | ||
Ticker: MRK Fiscal Year: 2020 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 8,062 | 9,676 |
| Short-term investments | 0 | 774 |
| Accounts receivable (net of allowance for doubtful accounts of $85 in 2020 and $86 in 2019) | 7,851 | 6,778 |
| Inventories (excludes inventories of $2,197 in 2020 and $1,480 in 2019 classified in Other assets - see Note 7) | 6,310 | 5,978 |
| Other current assets | 5,541 | 4,277 |
| Total current assets | 27,764 | 27,483 |
| Investments | 785 | 1,469 |
| Property, Plant and Equipment (at cost) | ||
| Land | 350 | 343 |
| Buildings | 12,645 | 11,989 |
| Machinery, equipment and office furnishings | 16,649 | 15,394 |
| Construction in progress | 7,324 | 5,013 |
| Property, plant and equipment (at cost) | 36,968 | 32,739 |
| Less: accumulated depreciation | 18,982 | 17,686 |
| Property, plant and equipment, net | 17,986 | 15,053 |
| Goodwill | 20,238 | 19,425 |
| Other Intangibles, Net | 14,604 | 14,196 |
| Other Assets | 10,211 | 6,771 |
| Total Assets | 91,588 | 84,397 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Loans payable and current portion of long-term debt | 6,431 | 3,610 |
| Trade accounts payable | 4,594 | 3,738 |
| Accrued and other current liabilities | 13,053 | 12,549 |
| Income taxes payable | 1,575 | 736 |
| Dividends payable | 1,674 | 1,587 |
| Total current liabilities | 27,327 | 22,220 |
| Long-Term Debt | 25,360 | 22,736 |
| Deferred Income Taxes | 1,015 | 1,470 |
| Other Noncurrent Liabilities | 12,482 | 11,970 |
| Merck & Co., Inc. Stockholders Equity | ||
| Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2020 and 2019 | 1,788 | 1,788 |
| Other paid-in capital | 39,588 | 39,660 |
| Retained earnings | 47,362 | 46,602 |
| Accumulated other comprehensive loss | (6,634) | (6,193) |
| Stockholders' equity before deduction for treasury stock | 82,104 | 81,857 |
| Less treasury stock, at cost: 1,046,877,695 shares in 2020 and 1,038,087,496 shares in 2019 | 56,787 | 55,950 |
| Total Merck & Co., Inc. stockholders equity | 25,317 | 25,907 |
| Noncontrolling Interests | 87 | 94 |
| Total equity | 25,404 | 26,001 |
| Total Liabilities and Equity | 91,588 | 84,397 |
| External Links | |
| MERCK & CO., INC. (MRK) Fiscal Year 2020 | |
| 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 |