10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2021 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Revenues | $ 39,211 | 32,218 | 25,542 |
| Costs and operating expenses: | |||
| Selling, general and administrative expenses | 8,007 | 6,930 | 6,144 |
| Research and development expenses | 1,406 | 1,181 | 1,003 |
| Restructuring and other costs (income) | 197 | 99 | (413) |
| Total costs and operating expenses | 29,183 | 24,424 | 20,948 |
| Operating income | 10,028 | 7,794 | 4,594 |
| Interest income | 43 | 65 | 224 |
| Interest expense | (536) | (553) | (676) |
| Other income/(expense) | (694) | (76) | (70) |
| Income before income taxes | 8,841 | 7,230 | 4,072 |
| Provision for income taxes | (1,109) | (850) | (374) |
| Equity in (losses) earnings of unconsolidated entities | (4) | (3) | 0 |
| Net income | 7,728 | 6,377 | 3,698 |
| Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest | 3 | 2 | 2 |
| Net income attributable to Thermo Fisher Scientific Inc. | 7,725 | 6,375 | 3,696 |
| Earnings per share attributable to Thermo Fisher Scientific Inc. | |||
| Basic (in dollars per share) | 19.62 | 16.09 | 9.24 |
| Diluted (in dollars per share) | 19.46 | 15.96 | 9.17 |
| Weighted average shares | |||
| Basic (in shares) | 394 | 396 | 400 |
| Diluted (in shares) | 397 | 399 | 403 |
| Product and Service | |||
| Product | |||
| Revenues | 30,361 | 25,306 | 19,496 |
| Cost of revenues | 13,594 | 11,407 | 10,037 |
| Service | |||
| Revenues | 8,850 | 6,912 | 6,046 |
| Cost of revenues | 5,979 | 4,807 | 4,177 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2021 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 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 | |
| Comprehensive income | |||
| Net income | $ 7,728 | 6,377 | 3,698 |
| Other comprehensive items: | |||
| Currency translation adjustment: | |||
| Currency translation adjustment (net of tax provision (benefit) of $231, $(221) and $25) | 373 | (118) | (106) |
| Reclassification adjustment for losses included in net income | 0 | 0 | 30 |
| Unrealized gains and losses on hedging instruments: | |||
| Unrealized losses on hedging instruments (net of tax benefit of $0, $20 and $12) | 0 | (65) | (38) |
| Reclassification adjustment for losses included in net income (net of tax benefit of $17, $14 and $6) | 56 | 45 | 19 |
| Pension and other postretirement benefit liability adjustments: | |||
| Pension and other postretirement benefit liability adjustments arising during the period (net of tax provision (benefit) of $11, $(1) and $(31)) | 36 | (8) | (93) |
| Amortization of net loss and prior service benefit included in net periodic pension cost (net of tax benefit of $6, $4 and $2) | 13 | 18 | 8 |
| Total other comprehensive items | 478 | (128) | (180) |
| Comprehensive income | 8,206 | 6,249 | 3,518 |
| Less: comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 2 | 2 | 3 |
| Comprehensive income attributable to Thermo Fisher Scientific Inc. | 8,204 | 6,247 | 3,515 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
THERMO FISHER SCIENTIFIC INC. | |||
Ticker: TMO Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 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 | |
| Operating activities | |||
| Net income | $ 7,728 | 6,377 | 3,698 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property, plant and equipment | 831 | 658 | 564 |
| Amortization of acquisition-related intangible assets | 1,761 | 1,667 | 1,713 |
| Change in deferred income taxes | (647) | (552) | (302) |
| Gain on sales of businesses | 0 | 0 | (482) |
| Stock-based compensation | 230 | 196 | 181 |
| Loss on early extinguishment of debt | 767 | 0 | 184 |
| Other non-cash expenses | 190 | 338 | 82 |
| Changes in assets and liabilities, excluding the effects of acquisitions and disposition: | |||
| Accounts receivable | (204) | (1,302) | (225) |
| Inventories | (1,065) | (508) | (458) |
| Accounts payable | 479 | 59 | 266 |
| Contributions to retirement plans | (34) | (96) | (50) |
| Other | (724) | 1,452 | (198) |
| Net cash provided by operating activities | 9,312 | 8,289 | 4,973 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (19,395) | (38) | (1,843) |
| Proceeds from sale of business, net of cash divested | 0 | 0 | 1,128 |
| Purchase of property, plant and equipment | (2,523) | (1,474) | (926) |
| Proceeds from sale of property, plant and equipment | 20 | 8 | 36 |
| Other investing activities, net | (34) | (6) | 118 |
| Net cash used in investing activities | (21,932) | (1,510) | (1,487) |
| Financing activities | |||
| Net proceeds from issuance of debt | 18,137 | 3,464 | 5,638 |
| Repayment of debt | (11,738) | (710) | (6,355) |
| Proceeds from issuance of commercial paper | 2,512 | 383 | 2,781 |
| Repayments of commercial paper | 0 | (387) | (3,464) |
| Purchases of company common stock | (2,000) | (1,500) | (1,500) |
| Dividends paid | (395) | (337) | (297) |
| Net proceeds from issuance of company common stock under employee stock plans | 156 | 196 | 153 |
| Other financing activities, net | (91) | (150) | (74) |
| Net cash provided by (used in) financing activities | 6,581 | 959 | (3,118) |
| Exchange rate effect on cash | 194 | 176 | (63) |
| (Decrease) increase in cash, cash equivalents and restricted cash | (5,845) | 7,914 | 305 |
| Cash, cash equivalents and restricted cash at beginning of year | 10,336 | 2,422 | |
| Cash, cash equivalents and restricted cash at end of year | 4,491 | 10,336 | 2,422 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
THERMO FISHER SCIENTIFIC INC. | ||
Ticker: TMO Fiscal Year: 2021 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,477 | 10,325 |
| Accounts receivable, less allowances of $150 and $135 | 7,977 | 5,741 |
| Inventories | 5,051 | 4,029 |
| Contract assets, net | 968 | 731 |
| Other current assets | 1,640 | 1,131 |
| Total current assets | 20,113 | 21,957 |
| Property, plant and equipment, net | 8,333 | 5,912 |
| Acquisition-related intangible assets, net | 20,113 | 12,685 |
| Other assets | 4,640 | 2,457 |
| Goodwill | 41,924 | 26,041 |
| Total assets | 95,123 | 69,052 |
| Liabilities, redeemable noncontrolling interest and equity | ||
| Current liabilities: | ||
| Short-term obligations and current maturities of long-term obligations | 2,537 | 2,628 |
| Accounts payable | 2,867 | 2,175 |
| Accrued payroll and employee benefits | 2,427 | 1,916 |
| Contract liabilities | 2,655 | 1,271 |
| Other accrued expenses | 2,950 | 2,314 |
| Total current liabilities | 13,436 | 10,304 |
| Deferred income taxes | 3,837 | 1,794 |
| Other long-term liabilities | 4,540 | 3,330 |
| Long-term obligations | 32,333 | 19,107 |
| Commitments and Contingencies | ||
| Redeemable noncontrolling interest | 122 | 0 |
| Equity: | ||
| Thermo Fisher Scientific Inc. shareholders equity: | ||
| Preferred stock, $100 par value, 50,000 shares authorized; none issued | ||
| Common stock, $1 par value, 1,200,000,000 shares authorized; 439,154,741 and 437,088,297 shares issued | 439 | 437 |
| Capital in excess of par value | 16,174 | 15,579 |
| Retained earnings | 35,431 | 28,116 |
| Treasury stock at cost, 44,720,112 and 40,417,789 shares | (8,922) | (6,818) |
| Accumulated other comprehensive items | (2,329) | (2,807) |
| Total Thermo Fisher Scientific Inc. shareholders equity | 40,793 | 34,507 |
| Noncontrolling interests | 62 | 10 |
| Total equity | 40,855 | 34,517 |
| Total liabilities, redeemable noncontrolling interest and equity | 95,123 | 69,052 |
| External Links | |
| THERMO FISHER SCIENTIFIC INC. (TMO) 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 |