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10-Q Filing

VARIAN MEDICAL SYSTEMS INC CIK: 203527 Q2 2020
Filing Information
Form Type 10-Q
Accession Number 0000203527-20-000015
Period End Date 20200331
Filing Date 20200512
Fiscal Year 2020
Fiscal Period Q2
XBRL Instance var-20200403_htm.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $48.90M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $46.50M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $531.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $667.80M USD Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Trade and unbilled receivables, net of allowance for doubtful accounts of $48.9 and $46.5 at April 3, 2020 and September 27, 2019, respectively AccountsReceivableNetCurrent $1.11B USD Point-in-time
Trade and unbilled receivables, net of allowance for doubtful accounts of $48.9 and $46.5 at April 3, 2020 and September 27, 2019, respectively AccountsReceivableNetCurrent $1.00B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories InventoryNet $604.00M USD Point-in-time
Inventories InventoryNet $551.50M USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $206.20M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $224.30M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Total current assets AssetsCurrent $2.50B USD Point-in-time
Total current assets AssetsCurrent $2.40B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 189.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 189.00M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $311.50M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $341.90M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 90.80M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 90.70M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 90.80M shares Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $123.80M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 90.70M shares Point-in-time
Goodwill Goodwill $614.70M USD Point-in-time
Goodwill Goodwill $612.20M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $281.60M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $300.70M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $84.70M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $93.60M USD Point-in-time
Other assets OtherAssetsNoncurrent $387.40M USD Point-in-time
Other assets OtherAssetsNoncurrent $397.20M USD Point-in-time
Total assets Assets $4.34B USD Point-in-time
Total assets Assets $4.10B USD Point-in-time
Accounts payable AccountsPayableCurrent $198.40M USD Point-in-time
Accounts payable AccountsPayableCurrent $248.50M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $433.20M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $459.50M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $798.10M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $766.00M USD Point-in-time
Short-term borrowings ShortTermBorrowings $520.00M USD Point-in-time
Short-term borrowings ShortTermBorrowings $410.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.88B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.95B USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $100.40M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $440.10M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $423.10M USD Point-in-time
Total liabilities Liabilities $2.47B USD Point-in-time
Total liabilities Liabilities $2.32B USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Preferred stock of $1 par value: 1.0 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Preferred stock of $1 par value: 1.0 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Common stock of $1 par value: 189.0 shares authorized; 90.7 and 90.8 shares issued and outstanding at April 3, 2020 and September 27, 2019, respectively CommonStockValue $90.80M USD Point-in-time
Common stock of $1 par value: 189.0 shares authorized; 90.7 and 90.8 shares issued and outstanding at April 3, 2020 and September 27, 2019, respectively CommonStockValue $90.70M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $845.60M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $878.20M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $934.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $993.70M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-101.80M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-102.10M USD Point-in-time
Total Varian stockholders' equity StockholdersEquity $1.77B USD Point-in-time
Total Varian stockholders' equity StockholdersEquity $1.86B USD Point-in-time
Noncontrolling interest MinorityInterest $9.90M USD Point-in-time
Noncontrolling interest MinorityInterest $9.30M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.86B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.68B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.74B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.87B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.10B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.34B USD Point-in-time
Income Statement 84 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $794.50M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.52B USD 2 Qtrs
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $1.62B USD 2 Qtrs
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $779.40M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $919.40M USD 2 Qtrs
Total cost of revenues CostOfGoodsAndServicesSold $461.20M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $457.30M USD 1 Quarter
Total cost of revenues CostOfGoodsAndServicesSold $886.10M USD 2 Qtrs
Gross margin GrossProfit $704.00M USD 2 Qtrs
Gross margin GrossProfit $634.30M USD 2 Qtrs
Gross margin GrossProfit $337.20M USD 1 Quarter
Gross margin GrossProfit $318.20M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $59.40M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $120.30M USD 2 Qtrs
Research and development ResearchAndDevelopmentExpense $138.10M USD 2 Qtrs
Research and development ResearchAndDevelopmentExpense $71.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $175.30M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $287.90M USD 2 Qtrs
Selling, general and administrative SellingGeneralAndAdministrativeExpense $146.80M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $352.30M USD 2 Qtrs
Impairment charges AssetImpairmentCharges - USD 1 Quarter
Impairment charges AssetImpairmentCharges - USD 2 Qtrs
Impairment charges AssetImpairmentCharges $40.50M USD 2 Qtrs
Impairment charges AssetImpairmentCharges $40.50M USD 1 Quarter
Acquisition-related expenses (benefits) AcquisitionrelatedExpenseBenefitandInprocessRD $8.20M USD 2 Qtrs
Acquisition-related expenses (benefits) AcquisitionrelatedExpenseBenefitandInprocessRD $-4.50M USD 1 Quarter
Acquisition-related expenses (benefits) AcquisitionrelatedExpenseBenefitandInprocessRD $2.20M USD 1 Quarter
Total operating expenses OperatingExpenses $208.40M USD 1 Quarter
Total operating expenses OperatingExpenses $412.80M USD 2 Qtrs
Total operating expenses OperatingExpenses $282.30M USD 1 Quarter
Total operating expenses OperatingExpenses $539.10M USD 2 Qtrs
Operating earnings OperatingIncomeLoss $54.90M USD 1 Quarter
Operating earnings OperatingIncomeLoss $164.90M USD 2 Qtrs
Operating earnings OperatingIncomeLoss $221.50M USD 2 Qtrs
Operating earnings OperatingIncomeLoss $109.80M USD 1 Quarter
Interest income InvestmentIncomeInterest $6.10M USD 2 Qtrs
Interest income InvestmentIncomeInterest $4.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $3.10M USD 1 Quarter
Interest income InvestmentIncomeInterest $7.90M USD 2 Qtrs
Interest expense InterestExpense $9.00M USD 2 Qtrs
Interest expense InterestExpense $4.30M USD 1 Quarter
Interest expense InterestExpense $2.20M USD 2 Qtrs
Interest expense InterestExpense $1.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingExpense $900.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncome $23.20M USD 2 Qtrs
Other income (expense), net OtherNonoperatingIncome $3.50M USD 2 Qtrs
Other income (expense), net OtherNonoperatingIncome $200.00K USD 1 Quarter
Earnings before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $165.50M USD 2 Qtrs
Earnings before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $52.80M USD 1 Quarter
Earnings before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $250.40M USD 2 Qtrs
Earnings before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $113.00M USD 1 Quarter
Taxes on earnings IncomeTaxExpenseBenefit $58.10M USD 2 Qtrs
Taxes on earnings IncomeTaxExpenseBenefit $24.60M USD 1 Quarter
Taxes on earnings IncomeTaxExpenseBenefit $9.70M USD 1 Quarter
Taxes on earnings IncomeTaxExpenseBenefit $33.50M USD 2 Qtrs
Net earnings ProfitLoss $43.10M USD 1 Quarter
Net earnings ProfitLoss $88.40M USD 1 Quarter
Net earnings ProfitLoss $132.00M USD 2 Qtrs
Net earnings ProfitLoss $192.30M USD 2 Qtrs
Less: Net earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $500.00K USD 2 Qtrs
Less: Net earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-200.00K USD 1 Quarter
Less: Net earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Less: Net earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $600.00K USD 2 Qtrs
Net earnings attributable to Varian NetIncomeLoss $191.80M USD 2 Qtrs
Net earnings attributable to Varian NetIncomeLoss $131.40M USD 2 Qtrs
Net earnings attributable to Varian NetIncomeLoss $88.60M USD 1 Quarter
Net earnings attributable to Varian NetIncomeLoss $43.20M USD 1 Quarter
Net earnings per share - basic (in dollars per share) EarningsPerShareBasic $0.48 USD 1 Quarter
Net earnings per share - basic (in dollars per share) EarningsPerShareBasic $2.11 USD 2 Qtrs
Net earnings per share - basic (in dollars per share) EarningsPerShareBasic $0.97 USD 1 Quarter
Net earnings per share - basic (in dollars per share) EarningsPerShareBasic $1.45 USD 2 Qtrs
Net earnings per share - diluted (in dollars per share) EarningsPerShareDiluted $2.09 USD 2 Qtrs
Net earnings per share - diluted (in dollars per share) EarningsPerShareDiluted $0.47 USD 1 Quarter
Net earnings per share - diluted (in dollars per share) EarningsPerShareDiluted $0.96 USD 1 Quarter
Net earnings per share - diluted (in dollars per share) EarningsPerShareDiluted $1.43 USD 2 Qtrs
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 91.00M shares 1 Quarter
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 91.00M shares 2 Qtrs
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 90.80M shares 2 Qtrs
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 90.70M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 91.40M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 91.60M shares 2 Qtrs
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 91.90M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 92.00M shares 2 Qtrs
Other expense, net OtherNonoperatingExpense $900.00K USD 1 Quarter
Cash Flow Statement 75 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $88.40M USD 1 Quarter
Net earnings ProfitLoss $132.00M USD 2 Qtrs
Net earnings ProfitLoss $43.10M USD 1 Quarter
Net earnings ProfitLoss $192.30M USD 2 Qtrs
Share-based compensation expense ShareBasedCompensation $23.00M USD 2 Qtrs
Share-based compensation expense ShareBasedCompensation $26.20M USD 2 Qtrs
Depreciation Depreciation $29.90M USD 2 Qtrs
Depreciation Depreciation $25.80M USD 2 Qtrs
Amortization of intangible assets and inventory step-up AmortizationOfIntangibleAssets $11.40M USD 2 Qtrs
Amortization of intangible assets and inventory step-up AmortizationOfIntangibleAssets $19.70M USD 2 Qtrs
Deferred taxes DeferredIncomeTaxExpenseBenefit $-8.70M USD 2 Qtrs
Deferred taxes DeferredIncomeTaxExpenseBenefit $7.40M USD 2 Qtrs
Provision to allowance for doubtful accounts ProvisionForDoubtfulAccounts $4.00M USD 2 Qtrs
Provision to allowance for doubtful accounts ProvisionForDoubtfulAccounts $3.70M USD 2 Qtrs
Gain on sale of equity investments GainOnSaleOfInvestments $21.80M USD 2 Qtrs
Gain on sale of equity investments GainOnSaleOfInvestments $1.40M USD 2 Qtrs
Impairment charges AssetImpairmentCharges $40.50M USD 1 Quarter
Impairment charges AssetImpairmentCharges $40.50M USD 2 Qtrs
Impairment charges AssetImpairmentCharges - USD 2 Qtrs
Impairment charges AssetImpairmentCharges - USD 1 Quarter
Other, net OtherNoncashIncomeExpense $1.10M USD 2 Qtrs
Other, net OtherNoncashIncomeExpense $-300.00K USD 2 Qtrs
Trade and unbilled receivables IncreaseDecreaseInAccountsReceivable $58.60M USD 2 Qtrs
Trade and unbilled receivables IncreaseDecreaseInAccountsReceivable $-49.90M USD 2 Qtrs
Inventories IncreaseDecreaseInInventories $41.90M USD 2 Qtrs
Inventories IncreaseDecreaseInInventories $53.70M USD 2 Qtrs
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $18.60M USD 2 Qtrs
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $19.30M USD 2 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $-54.70M USD 2 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $23.70M USD 2 Qtrs
Accrued liabilities and other long-term liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities $-74.20M USD 2 Qtrs
Accrued liabilities and other long-term liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities $-62.60M USD 2 Qtrs
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $55.40M USD 2 Qtrs
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $33.40M USD 2 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $127.50M USD 2 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $134.50M USD 2 Qtrs
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $37.00M USD 2 Qtrs
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.20M USD 2 Qtrs
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $25.00M USD 2 Qtrs
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $8.40M USD 2 Qtrs
Purchase of equity investments PaymentsToAcquireInvestments $11.80M USD 2 Qtrs
Purchase of equity investments PaymentsToAcquireInvestments - USD 2 Qtrs
Sale of equity investments ProceedsFromSaleOfOtherInvestments $29.90M USD 2 Qtrs
Sale of equity investments ProceedsFromSaleOfOtherInvestments $9.20M USD 2 Qtrs
Other, net PaymentsForProceedsFromOtherInvestingActivities - USD 2 Qtrs
Other, net PaymentsForProceedsFromOtherInvestingActivities $2.50M USD 2 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.20M USD 2 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-34.60M USD 2 Qtrs
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $86.20M USD 2 Qtrs
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $85.60M USD 2 Qtrs
Proceeds from issuance of common stock to employees ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $32.10M USD 2 Qtrs
Proceeds from issuance of common stock to employees ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $38.60M USD 2 Qtrs
Tax withholdings on vesting of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $13.90M USD 2 Qtrs
Tax withholdings on vesting of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $11.50M USD 2 Qtrs
Borrowings under credit facility agreement ProceedsFromIssuanceOfLongTermDebt - USD 2 Qtrs
Borrowings under credit facility agreement ProceedsFromIssuanceOfLongTermDebt $105.00M USD 2 Qtrs
Repayments under credit facility agreement RepaymentsOfLongTermDebt $105.00M USD 2 Qtrs
Net borrowings under the credit facility agreements with maturities less than 90 days ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $110.00M USD 2 Qtrs
Net borrowings under the credit facility agreements with maturities less than 90 days ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess - USD 2 Qtrs
Other ProceedsFromPaymentsForOtherFinancingActivities $-900.00K USD 2 Qtrs
Other ProceedsFromPaymentsForOtherFinancingActivities $4.00M USD 2 Qtrs
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-56.90M USD 2 Qtrs
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $43.50M USD 2 Qtrs
Effects of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.50M USD 2 Qtrs
Effects of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.10M USD 2 Qtrs
Net increase in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $144.90M USD 2 Qtrs
Net increase in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $42.50M USD 2 Qtrs
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $689.00M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $558.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $544.10M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $516.40M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $558.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $544.10M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $689.00M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $516.40M USD Point-in-time
Stockholders Equity 48 line items
Line Item Tag Value Unit Period
Beginning balance (in shares) CommonStockSharesOutstanding 90.70M shares Point-in-time
Beginning balance (in shares) CommonStockSharesOutstanding 90.80M shares Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.86B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.68B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.74B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.87B USD Point-in-time
Net earnings (loss) NetIncomeLossIncludingPortionAttributabletoNoncontrollingInterestExcludingRedeemableNoncontrollingInterest $103.90M USD 1 Quarter
Net earnings (loss) NetIncomeLossIncludingPortionAttributabletoNoncontrollingInterestExcludingRedeemableNoncontrollingInterest $88.90M USD 1 Quarter
Net earnings (loss) NetIncomeLossIncludingPortionAttributabletoNoncontrollingInterestExcludingRedeemableNoncontrollingInterest $43.10M USD 1 Quarter
Net earnings (loss) NetIncomeLossIncludingPortionAttributabletoNoncontrollingInterestExcludingRedeemableNoncontrollingInterest $88.40M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-3.70M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-6.50M USD 2 Qtrs
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $300.00K USD 2 Qtrs
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $5.10M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-2.80M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-4.80M USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $21.00M USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $22.00M USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $20.30M USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $11.30M USD 1 Quarter
Tax withholdings on vesting of equity awards (shares) SharesPaidForTaxWithholdingForShareBasedCompensation 0.00 shares 1 Quarter
Tax withholdings on vesting of equity awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.60M USD 1 Quarter
Tax withholdings on vesting of equity awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $7.90M USD 1 Quarter
Tax withholdings on vesting of equity awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $4.40M USD 1 Quarter
Tax withholdings on vesting of equity awards AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $9.50M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $10.50M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $12.50M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $14.70M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.50M USD 1 Quarter
Repurchases of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 600,000.00 shares 2 Qtrs
Repurchases of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 300,000.00 shares 1 Quarter
Repurchases of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 700,000.00 shares 2 Qtrs
Repurchases of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 400,000.00 shares 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $46.40M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $50.80M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $34.80M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $39.80M USD 1 Quarter
Other StockholdersEquityOther $200.00K USD 1 Quarter
Ending balance (in shares) CommonStockSharesOutstanding 90.70M shares Point-in-time
Ending balance (in shares) CommonStockSharesOutstanding 90.80M shares Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.74B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.68B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.78B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.86B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.87B USD Point-in-time
Comprehensive Income 62 line items
Line Item Tag Value Unit Period
Tax on amortization of prior service cost included in net periodic benefit cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax $100.00K USD 2 Qtrs
Net earnings ProfitLoss $88.40M USD 1 Quarter
Net earnings ProfitLoss $132.00M USD 2 Qtrs
Net earnings ProfitLoss $43.10M USD 1 Quarter
Net earnings ProfitLoss $192.30M USD 2 Qtrs
Tax on amortization of prior service cost included in net periodic benefit cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax $100.00K USD 1 Quarter
Tax on amortization of prior service cost included in net periodic benefit cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax $100.00K USD 2 Qtrs
Tax on amortization of prior service cost included in net periodic benefit cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax $100.00K USD 1 Quarter
Tax on amortization of net actuarial loss included in net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-300.00K USD 2 Qtrs
Tax on amortization of net actuarial loss included in net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-100.00K USD 1 Quarter
Tax on amortization of net actuarial loss included in net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-100.00K USD 1 Quarter
Tax on amortization of net actuarial loss included in net periodic benefit cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $-200.00K USD 2 Qtrs
Tax on increase (decrease) in unrealized gain on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax $600.00K USD 1 Quarter
Tax on increase (decrease) in unrealized gain on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax $600.00K USD 2 Qtrs
Tax on reclassification adjustments on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax $400.00K USD 2 Qtrs
Amortization of prior service cost included in net periodic benefit cost, net of tax benefit of $0.1 and $0.1, for three and six months ended April 3, 2020, respectively, and $0.1 and $0.1, for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-100.00K USD 1 Quarter
Amortization of prior service cost included in net periodic benefit cost, net of tax benefit of $0.1 and $0.1, for three and six months ended April 3, 2020, respectively, and $0.1 and $0.1, for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-300.00K USD 2 Qtrs
Amortization of prior service cost included in net periodic benefit cost, net of tax benefit of $0.1 and $0.1, for three and six months ended April 3, 2020, respectively, and $0.1 and $0.1, for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-100.00K USD 1 Quarter
Tax on reclassification adjustments on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax $200.00K USD 1 Quarter
Amortization of prior service cost included in net periodic benefit cost, net of tax benefit of $0.1 and $0.1, for three and six months ended April 3, 2020, respectively, and $0.1 and $0.1, for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $-300.00K USD 2 Qtrs
Amortization of net actuarial loss included in net periodic benefit cost, net of tax expense of $(0.1) and $(0.3), for three and six months ended April 3, 2020, respectively, and $(0.1) and $(0.2), for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-400.00K USD 1 Quarter
Amortization of net actuarial loss included in net periodic benefit cost, net of tax expense of $(0.1) and $(0.3), for three and six months ended April 3, 2020, respectively, and $(0.1) and $(0.2), for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-900.00K USD 1 Quarter
Amortization of net actuarial loss included in net periodic benefit cost, net of tax expense of $(0.1) and $(0.3), for three and six months ended April 3, 2020, respectively, and $(0.1) and $(0.2), for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-1.80M USD 2 Qtrs
Amortization of net actuarial loss included in net periodic benefit cost, net of tax expense of $(0.1) and $(0.3), for three and six months ended April 3, 2020, respectively, and $(0.1) and $(0.2), for the corresponding periods of fiscal year 2019, respectively OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-900.00K USD 2 Qtrs
Defined benefit pension and post-retirement benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.50M USD 2 Qtrs
Defined benefit pension and post-retirement benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-600.00K USD 2 Qtrs
Defined benefit pension and post-retirement benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-300.00K USD 1 Quarter
Defined benefit pension and post-retirement benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-800.00K USD 1 Quarter
Change in unrealized loss, net of tax expense of $(0.6) and $(0.6), respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax - USD 1 Quarter
Change in unrealized loss, net of tax expense of $(0.6) and $(0.6), respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $2.00M USD 2 Qtrs
Change in unrealized loss, net of tax expense of $(0.6) and $(0.6), respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax - USD 2 Qtrs
Change in unrealized loss, net of tax expense of $(0.6) and $(0.6), respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $2.10M USD 1 Quarter
Reclassification adjustments, net of tax benefit of $0.2 and $0.4, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax - USD 2 Qtrs
Reclassification adjustments, net of tax benefit of $0.2 and $0.4, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $1.50M USD 2 Qtrs
Reclassification adjustments, net of tax benefit of $0.2 and $0.4, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $900.00K USD 1 Quarter
Reclassification adjustments, net of tax benefit of $0.2 and $0.4, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax - USD 1 Quarter
Derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 2 Qtrs
Derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $1.20M USD 1 Quarter
Derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 1 Quarter
Derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $500.00K USD 2 Qtrs
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-3.10M USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.70M USD 2 Qtrs
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-6.80M USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-7.10M USD 2 Qtrs
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-2.80M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-3.70M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-6.50M USD 2 Qtrs
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $5.10M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $-4.80M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $300.00K USD 2 Qtrs
Comprehensive earnings ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $38.30M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $185.80M USD 2 Qtrs
Comprehensive earnings ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $132.30M USD 2 Qtrs
Comprehensive earnings ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $85.60M USD 1 Quarter
Less: Comprehensive earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $500.00K USD 2 Qtrs
Less: Comprehensive earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $600.00K USD 2 Qtrs
Less: Comprehensive earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Less: Comprehensive earnings (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-200.00K USD 1 Quarter
Comprehensive earnings attributable to Varian ComprehensiveIncomeNetOfTax $185.30M USD 2 Qtrs
Comprehensive earnings attributable to Varian ComprehensiveIncomeNetOfTax $131.70M USD 2 Qtrs
Comprehensive earnings attributable to Varian ComprehensiveIncomeNetOfTax $38.40M USD 1 Quarter
Comprehensive earnings attributable to Varian ComprehensiveIncomeNetOfTax $85.80M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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