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: 2022 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 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 | |
| Sales | $ 59,283 | 48,704 | 41,518 |
| Costs, Expenses and Other | |||
| Cost of sales | 17,411 | 13,626 | 13,618 |
| Selling, general and administrative | 10,042 | 9,634 | 8,955 |
| Research and development | 13,548 | 12,245 | 13,397 |
| Restructuring costs | 337 | 661 | 575 |
| Other (income) expense, net | 1,501 | (1,341) | (890) |
| Total costs, expenses and other | 42,839 | 34,825 | 35,655 |
| Income from Continuing Operations Before Taxes | 16,444 | 13,879 | 5,863 |
| Taxes on Income from Continuing Operations | 1,918 | 1,521 | 1,340 |
| Net Income from Continuing Operations | 14,526 | 12,358 | 4,523 |
| Less: Net Income Attributable to Noncontrolling Interests | 7 | 13 | 4 |
| Net Income from Continuing Operations Attributable to Merck & Co., Inc. | 14,519 | 12,345 | 4,519 |
| Income from Discontinued Operations, Net of Taxes and Amounts Attributable to Noncontrolling Interests | 0 | 704 | 2,548 |
| Net Income Attributable to Merck & Co., Inc. | 14,519 | 13,049 | 7,067 |
| Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders | |||
| Income from Continuing Operations (in dollars per share) | 5.73 | 4.88 | 1.79 |
| Income from Discontinued Operations (in dollars per share) | 0.00 | 0.28 | 1.01 |
| Net Income (in dollars per share) | 5.73 | 5.16 | 2.79 |
| Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders | |||
| Income from Continuing Operations (in dollars per share) | 5.71 | 4.86 | 1.78 |
| Income from Discontinued Operations (in dollars per share) | 0.00 | 0.28 | 1.00 |
| Net Income (in dollars per share) | 5.71 | 5.14 | 2.78 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2022 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 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 | |
| Net Income Attributable to Merck & Co., Inc. | $ 14,519 | 13,049 | 7,067 |
| Other Comprehensive (Loss) Income Net of Taxes: | |||
| Net unrealized (loss) gain on derivatives, net of reclassifications | (71) | 410 | (297) |
| Net unrealized loss on investments, net of reclassifications | 0 | 0 | (18) |
| Benefit plan net gain (loss) and prior service credit (cost), net of amortization | 335 | 1,769 | (279) |
| Cumulative translation adjustment | (603) | (423) | 153 |
| Other comprehensive income (loss), net of taxes | (339) | 1,756 | (441) |
| Comprehensive Income Attributable to Merck & Co., Inc. | 14,180 | 14,805 | 6,626 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MERCK & CO., INC. | |||
Ticker: MRK Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 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 | |
| Cash Flows from Operating Activities of Continuing Operations | |||
| Net income from continuing operations | $ 14,526 | 12,358 | 4,523 |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations: | |||
| Amortization | 2,085 | 1,636 | 1,817 |
| Depreciation | 1,824 | 1,578 | 1,669 |
| Intangible asset impairment charges | 1,749 | 302 | 1,718 |
| Loss (income) from investments in equity securities, net | 1,419 | (1,940) | (1,338) |
| Charge for the acquisition of Pandion Therapeutics, Inc. | 0 | 1,556 | 0 |
| Charge for the acquisition of VelosBio Inc. | 0 | 0 | 2,660 |
| Deferred income taxes | (1,568) | 187 | (566) |
| Share-based compensation | 541 | 479 | 441 |
| Other | 1,301 | 805 | 1,294 |
| Net changes in assets and liabilities: | |||
| Accounts receivable | (644) | (2,033) | (1,002) |
| Inventories | (161) | (674) | (895) |
| Trade accounts payable | (289) | 405 | 684 |
| Accrued and other current liabilities | (50) | 277 | (1,152) |
| Income taxes payable | 380 | (540) | 814 |
| Noncurrent liabilities | (545) | 484 | (617) |
| Other | (1,473) | (1,758) | (2,433) |
| Net Cash Provided by Operating Activities of Continuing Operations | 19,095 | 13,122 | 7,617 |
| Cash Flows from Investing Activities of Continuing Operations | |||
| Capital expenditures | (4,388) | (4,448) | (4,429) |
| Purchase of Seagen Inc. common stock | 0 | 0 | (1,000) |
| Purchases of securities and other investments | (1,204) | (1) | (95) |
| Proceeds from sales of securities and other investments | 721 | 1,026 | 2,812 |
| Acquisition of Acceleron Pharma Inc., net of cash acquired | 0 | (11,174) | 0 |
| Acquisition of Pandion Therapeutics, Inc., net of cash acquired | 0 | (1,554) | 0 |
| Acquisition of VelosBio Inc., net of cash acquired | 0 | 0 | (2,696) |
| Acquisition of ArQule, Inc., net of cash acquired | 0 | 0 | (2,545) |
| Other acquisitions, net of cash acquired | (121) | (179) | (1,365) |
| Other | 32 | (91) | 125 |
| Net Cash Used in Investing Activities of Continuing Operations | (4,960) | (16,421) | (9,193) |
| Cash Flows from Financing Activities of Continuing Operations | |||
| Net change in short-term borrowings | 0 | (3,986) | 2,549 |
| Payments on debt | (2,251) | (2,319) | (1,957) |
| Proceeds from issuance of debt | 0 | 7,936 | 4,419 |
| Distribution from Organon & Co. | 0 | 9,000 | 0 |
| Purchases of treasury stock | 0 | (840) | (1,281) |
| Dividends paid to stockholders | (7,012) | (6,610) | (6,215) |
| Proceeds from exercise of stock options | 384 | 202 | 89 |
| Other | (240) | (286) | (436) |
| Net Cash (Used in) Provided by Financing Activities of Continuing Operations | (9,119) | 3,097 | (2,832) |
| Cash Flows from Discontinued Operations | |||
| Net cash provided by operating activities | 0 | 987 | 2,636 |
| Net cash used in investing activities | 0 | (134) | (250) |
| Net cash used in financing activities | 0 | (504) | 0 |
| Net Cash Flows Provided by Discontinued Operations | 0 | 349 | 2,386 |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (410) | (133) | 253 |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 4,606 | 14 | (1,769) |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes $71, $103 and $258 of restricted cash at January 1, 2022, 2021 and 2020 included in Other current assets) | 8,167 | 8,153 | |
| Less: Cash and cash equivalents related to discontinued operations | 0 | 0 | 12 |
| Cash, Cash Equivalents and Restricted Cash at End of Year (includes $79, $71 and $103 of restricted cash at December 31, 2022, 2021 and 2020 included in Other current assets) | 12,773 | 8,167 | 8,153 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MERCK & CO., INC. | ||
Ticker: MRK Fiscal Year: 2022 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 12,694 | 8,096 |
| Short-term investments | 498 | 0 |
| Accounts receivable (net of allowance for doubtful accounts of $72 in 2022 and $62 in 2021) | 9,450 | 9,230 |
| Inventories (excludes inventories of $2,938 in 2022 and $2,194 in 2021 classified in Other assets - see Note 8) | 5,911 | 5,953 |
| Other current assets | 7,169 | 6,987 |
| Total current assets | 35,722 | 30,266 |
| Investments | 1,015 | 370 |
| Property, Plant and Equipment (at cost) | ||
| Land | 295 | 326 |
| Buildings | 13,166 | 12,529 |
| Machinery, equipment and office furnishings | 16,760 | 16,303 |
| Construction in progress | 9,186 | 8,313 |
| Property, plant and equipment (at cost) | 39,407 | 37,471 |
| Less: accumulated depreciation | 17,985 | 18,192 |
| Property, plant and equipment, net | 21,422 | 19,279 |
| Goodwill | 21,204 | 21,264 |
| Other Intangibles, Net | 20,269 | 22,933 |
| Other Assets | 9,528 | 11,582 |
| Total Assets | 109,160 | 105,694 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Loans payable and current portion of long-term debt | 1,946 | 2,412 |
| Trade accounts payable | 4,264 | 4,609 |
| Accrued and other current liabilities | 14,159 | 13,859 |
| Income taxes payable | 1,986 | 1,224 |
| Dividends payable | 1,884 | 1,768 |
| Total current liabilities | 24,239 | 23,872 |
| Long-Term Debt | 28,745 | 30,690 |
| Deferred Income Taxes | 1,795 | 3,441 |
| Other Noncurrent Liabilities | 8,323 | 9,434 |
| Merck & Co., Inc. Stockholders Equity | ||
| Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2022 and 2021 | 1,788 | 1,788 |
| Other paid-in capital | 44,379 | 44,238 |
| Retained earnings | 61,081 | 53,696 |
| Accumulated other comprehensive loss | (4,768) | (4,429) |
| Stockholders' equity before deduction for treasury stock | 102,480 | 95,293 |
| Less treasury stock, at cost: 1,039,269,638 shares in 2022 and 1,049,499,023 shares in 2021 | 56,489 | 57,109 |
| Total Merck & Co., Inc. stockholders equity | 45,991 | 38,184 |
| Noncontrolling Interests | 67 | 73 |
| Total equity | 46,058 | 38,257 |
| Total Liabilities and Equity | 109,160 | 105,694 |
| External Links | |
| MERCK & CO., INC. (MRK) 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 |