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: 2021 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Sales | $ 48,704 | 41,518 | 39,121 |
| Costs, Expenses and Other | |||
| Cost of sales | 13,626 | 13,618 | 12,016 |
| Selling, general and administrative | 9,634 | 8,955 | 9,455 |
| Research and development | 12,245 | 13,397 | 9,724 |
| Restructuring costs | 661 | 575 | 626 |
| Other (income) expense, net | (1,341) | (890) | 129 |
| Total costs, expenses and other | 34,825 | 35,655 | 31,950 |
| Income from Continuing Operations Before Taxes | 13,879 | 5,863 | 7,171 |
| Taxes on Income from Continuing Operations | 1,521 | 1,340 | 1,565 |
| Net Income from Continuing Operations | 12,358 | 4,523 | 5,606 |
| Less: Net Income (Loss) Attributable to Noncontrolling Interests | 13 | 4 | (84) |
| Net Income from Continuing Operations Attributable to Merck & Co., Inc. | 12,345 | 4,519 | 5,690 |
| Income from Discontinued Operations, Net of Taxes and Amounts Attributable to Noncontrolling Interests | 704 | 2,548 | 4,153 |
| Net Income Attributable to Merck & Co., Inc. | 13,049 | 7,067 | 9,843 |
| Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders | |||
| Income from Continuing Operations (in dollars per share) | 4.88 | 1.79 | 2.22 |
| Income from Discontinued Operations (in dollars per share) | 0.28 | 1.01 | 1.62 |
| Net Income (in dollars per share) | 5.16 | 2.79 | 3.84 |
| Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders | |||
| Income from Continuing Operations (in dollars per share) | 4.86 | 1.78 | 2.21 |
| Income from Discontinued Operations (in dollars per share) | 0.28 | 1.00 | 1.61 |
| Net Income (in dollars per share) | 5.14 | 2.78 | 3.81 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2021 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net Income Attributable to Merck & Co., Inc. | $ 13,049 | 7,067 | 9,843 |
| Other Comprehensive Income (Loss) Net of Taxes: | |||
| Net unrealized gain (loss) on derivatives, net of reclassifications | 410 | (297) | (135) |
| Net unrealized (loss) gain on investments, net of reclassifications | 0 | (18) | 96 |
| Benefit plan net gain (loss) and prior service credit (cost), net of amortization | 1,769 | (279) | (705) |
| Cumulative translation adjustment | (423) | 153 | 96 |
| Other comprehensive income (loss), net of taxes | 1,756 | (441) | (648) |
| Comprehensive Income Attributable to Merck & Co., Inc. | 14,805 | 6,626 | 9,195 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash Flows from Operating Activities of Continuing Operations | |||
| Net income from continuing operations | $ 12,358 | 4,523 | 5,606 |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations: | |||
| Amortization | 1,636 | 1,817 | 1,695 |
| Depreciation | 1,578 | 1,669 | 1,615 |
| Intangible asset impairment charges | 302 | 1,718 | 1,040 |
| Income from investments in equity securities, net | (1,940) | (1,338) | (170) |
| Charge for the acquisition of Pandion Therapeutics, Inc. | 1,556 | 0 | 0 |
| Charge for the acquisition of VelosBio Inc. | 0 | 2,660 | 0 |
| Charge for the acquisition of Peloton Therapeutics, Inc. | 0 | 0 | 993 |
| Deferred income taxes | 187 | (566) | (560) |
| Share-based compensation | 479 | 441 | 388 |
| Other | 805 | 1,294 | 354 |
| Net changes in assets and liabilities: | |||
| Accounts receivable | (2,033) | (1,002) | 92 |
| Inventories | (674) | (895) | (473) |
| Trade accounts payable | 405 | 684 | 443 |
| Accrued and other current liabilities | 277 | (1,152) | 413 |
| Income taxes payable | (540) | 814 | (1,889) |
| Noncurrent liabilities | 484 | (617) | (733) |
| Other | (1,758) | (2,433) | 70 |
| Net Cash Provided by Operating Activities of Continuing Operations | 13,122 | 7,617 | 8,884 |
| Cash Flows from Investing Activities of Continuing Operations | |||
| Capital expenditures | (4,448) | (4,429) | (3,369) |
| Purchase of Seagen Inc. common stock | 0 | (1,000) | 0 |
| Purchases of securities and other investments | (1) | (95) | (3,202) |
| Proceeds from sales of securities and other investments | 1,026 | 2,812 | 8,622 |
| Acquisition of Acceleron Pharma Inc., net of cash acquired | (11,174) | 0 | 0 |
| Acquisition of Pandion Therapeutics, Inc., net of cash acquired | (1,554) | 0 | 0 |
| Acquisition of VelosBio Inc., net of cash acquired | 0 | (2,696) | 0 |
| Acquisition of ArQule, Inc., net of cash acquired | 0 | (2,545) | 0 |
| Acquisition of Antelliq Corporation, net of cash acquired | 0 | 0 | (3,620) |
| Acquisition of Peloton Therapeutics, Inc., net of cash acquired | 0 | 0 | (1,040) |
| Other acquisitions, net of cash acquired | (179) | (1,365) | (294) |
| Other | (91) | 125 | 374 |
| Net Cash Used in Investing Activities of Continuing Operations | (16,421) | (9,193) | (2,529) |
| Cash Flows from Financing Activities of Continuing Operations | |||
| Net change in short-term borrowings | (3,986) | 2,549 | (3,710) |
| Payments on debt | (2,319) | (1,957) | 0 |
| Proceeds from issuance of debt | 7,936 | 4,419 | 4,958 |
| Distribution from Organon & Co. | 9,000 | 0 | 0 |
| Purchases of treasury stock | (840) | (1,281) | (4,780) |
| Dividends paid to stockholders | (6,610) | (6,215) | (5,695) |
| Proceeds from exercise of stock options | 202 | 89 | 361 |
| Other | (286) | (436) | 5 |
| Net Cash Provided by (Used in) Financing Activities of Continuing Operations | 3,097 | (2,832) | (8,861) |
| Discontinued Operations | |||
| Net cash provided by operating activities | 987 | 2,636 | 4,556 |
| Net cash used in investing activities | (134) | (250) | (100) |
| Net cash used in financing activities | (504) | 0 | 0 |
| Net Cash Flows Provided by Discontinued Operations | 349 | 2,386 | 4,456 |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (133) | 253 | 17 |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 14 | (1,769) | 1,967 |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes $103 of restricted cash at January 1, 2021 included in Other Assets - see Note 7) | 8,153 | 9,934 | |
| Less: Cash and cash equivalents related to discontinued operations | 0 | 12 | 0 |
| Cash, Cash Equivalents and Restricted Cash at End of Year (includes $71 of restricted cash at December 31, 2021 included in Other Assets - see Note 7) | 8,167 | 8,153 | 9,934 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MERCK & CO., INC. | ||
Ticker: MRK Fiscal Year: 2021 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 8,096 | 8,050 |
| Accounts receivable (net of allowance for doubtful accounts of $62 in 2021 and $67 in 2020) | 9,230 | 6,803 |
| Inventories (excludes inventories of $2,194 in 2021 and $2,070 in 2020 classified in Other assets - see Note 8) | 5,953 | 5,554 |
| Other current assets | 6,987 | 4,674 |
| Current assets of discontinued operations | 0 | 2,683 |
| Total current assets | 30,266 | 27,764 |
| Investments | 370 | 785 |
| Property, Plant and Equipment (at cost) | ||
| Land | 326 | 336 |
| Buildings | 12,529 | 11,998 |
| Machinery, equipment and office furnishings | 16,303 | 15,860 |
| Construction in progress | 8,313 | 6,968 |
| Property, plant and equipment (at cost) | 37,471 | 35,162 |
| Less: accumulated depreciation | 18,192 | 18,162 |
| Property, plant and equipment, net | 19,279 | 17,000 |
| Goodwill | 21,264 | 18,882 |
| Other Intangibles, Net | 22,933 | 14,101 |
| Other Assets | 11,582 | 9,881 |
| Noncurrent Assets of Discontinued Operations | 0 | 3,175 |
| Total Assets | 105,694 | 91,588 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Loans payable and current portion of long-term debt | 2,412 | 6,431 |
| Trade accounts payable | 4,609 | 4,327 |
| Accrued and other current liabilities | 13,859 | 12,212 |
| Income taxes payable | 1,224 | 1,597 |
| Dividends payable | 1,768 | 1,674 |
| Current liabilities of discontinued operations | 0 | 1,086 |
| Total current liabilities | 23,872 | 27,327 |
| Long-Term Debt | 30,690 | 25,360 |
| Deferred Income Taxes | 3,441 | 1,005 |
| Other Noncurrent Liabilities | 9,434 | 12,306 |
| Noncurrent Liabilities of Discontinued Operations | 0 | 186 |
| Merck & Co., Inc. Stockholders Equity | ||
| Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2021 and 2020 | 1,788 | 1,788 |
| Other paid-in capital | 44,238 | 39,588 |
| Retained earnings | 53,696 | 47,362 |
| Accumulated other comprehensive loss | (4,429) | (6,634) |
| Stockholders' equity before deduction for treasury stock | 95,293 | 82,104 |
| Less treasury stock, at cost: 1,049,499,023 shares in 2021 and 1,046,877,695 shares in 2020 | 57,109 | 56,787 |
| Total Merck & Co., Inc. stockholders equity | 38,184 | 25,317 |
| Noncontrolling Interests | 73 | 87 |
| Total equity | 38,257 | 25,404 |
| Total Liabilities and Equity | 105,694 | 91,588 |
| External Links | |
| MERCK & CO., INC. (MRK) Fiscal Year 2021 | |
| 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 |