10-Q Filing

MERCK & CO., INC. CIK: 310158 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000310158-19-000019`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	mrk-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 28 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$119.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$116.00M	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$1.42B	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$1.40B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.32B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.62B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.08B	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$722.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$899.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $116 in 2019 and $119 in 2018)	`AccountsReceivableNetCurrent`	$7.61B	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $116 in 2019 and $119 in 2018)	`AccountsReceivableNetCurrent`	$7.07B	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Inventories (excludes inventories of $1,398 in 2019 and $1,417 in 2018 classified in Other assets - see Note 6)	`InventoryNet`	$5.71B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Inventories (excludes inventories of $1,398 in 2019 and $1,417 in 2018 classified in Other assets - see Note 6)	`InventoryNet`	$5.44B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$4.50B	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	994.03M	shares	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$3.23B	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	984.54M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$25.35B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.88B	USD	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$6.23B	USD	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$5.62B	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $16,623 in 2019 and $16,324 in 2018	`PropertyPlantAndEquipmentNet`	$13.29B	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $16,623 in 2019 and $16,324 in 2018	`PropertyPlantAndEquipmentNet`	$13.51B	USD	Point-in-time
Goodwill	`Goodwill`	$18.17B	USD	Point-in-time
Goodwill	`Goodwill`	$18.25B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$11.43B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$11.00B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$8.71B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$7.55B	USD	Point-in-time
Total Assets	`Assets`	$82.64B	USD	Point-in-time
Total Assets	`Assets`	$82.35B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$3.17B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$5.31B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$3.32B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$3.02B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$10.15B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$10.08B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$807.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.97B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.46B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.46B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.54B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.21B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$19.81B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$22.72B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.83B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.70B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$11.59B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$12.04B	USD	Point-in-time
Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2019 and 2018	`CommonStockValue`	$1.79B	USD	Point-in-time
Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2019 and 2018	`CommonStockValue`	$1.79B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$38.77B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$38.81B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.58B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$44.06B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.35B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.54B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$79.28B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$77.63B	USD	Point-in-time
Less treasury stock, at cost: 994,032,308 shares in 2019 and 984,543,979 shares in 2018	`TreasuryStockValue`	$50.93B	USD	Point-in-time
Less treasury stock, at cost: 994,032,308 shares in 2019 and 984,543,979 shares in 2018	`TreasuryStockValue`	$51.74B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$27.54B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$26.70B	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$131.00M	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$181.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.88B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.67B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$33.90B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$34.57B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$82.64B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$82.35B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$10.82B	USD	1 Quarter
Sales	`Revenues`	$10.04B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.05B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.18B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.51B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.42B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.20B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.93B	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$95.00M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$153.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$291.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-188.00M	USD	1 Quarter
Total Costs, Expenses and Other	`CostsExpensesAndOther`	$8.69B	USD	1 Quarter
Total Costs, Expenses and Other	`CostsExpensesAndOther`	$7.75B	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.07B	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.34B	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$205.00M	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$604.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$2.86B	USD	1 Quarter
Net Income	`ProfitLoss`	$741.00M	USD	1 Quarter
Less: Net (Loss) Income Attributable to Noncontrolling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$5.00M	USD	1 Quarter
Less: Net (Loss) Income Attributable to Noncontrolling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-53.00M	USD	1 Quarter
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$2.92B	USD	1 Quarter
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$736.00M	USD	1 Quarter
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareBasic`	$1.13	USD	1 Quarter
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareDiluted`	$1.12	USD	1 Quarter
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$2.00M	USD	Point-in-time
Net income	`ProfitLoss`	$2.86B	USD	1 Quarter
Net income	`ProfitLoss`	$741.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14B	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$898.00M	USD	1 Quarter
Intangible asset impairment charges	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Intangible asset impairment charges	`GoodwillAndIntangibleAssetImpairment`	$104.00M	USD	1 Quarter
Charge for future payments related to collaboration license options	`ChargeForLicenseOptionsRelatedToCollaboration`	$650.00M	USD	1 Quarter
Charge for future payments related to collaboration license options	`ChargeForLicenseOptionsRelatedToCollaboration`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$194.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-30.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$93.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$80.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-50.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-120.00M	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.94B	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$1.47B	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.34B	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.16B	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$595.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$450.00M	USD	1 Quarter
Purchases of securities and other investments	`PaymentsToAcquireMarketableSecurities`	$1.33B	USD	1 Quarter
Purchases of securities and other investments	`PaymentsToAcquireMarketableSecurities`	$974.00M	USD	1 Quarter
Proceeds from sales of securities and other investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$1.90B	USD	1 Quarter
Proceeds from sales of securities and other investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$1.85B	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$269.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-38.00M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$368.00M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-197.00M	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-4.13B	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.00M	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	$1.00B	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	$4.96B	USD	1 Quarter
Proceeds from issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$566.00M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.09B	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.30B	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.43B	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$230.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$173.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-83.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-92.00M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.61B	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.72B	USD	1 Quarter
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.00M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$154.00M	USD	1 Quarter
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$110.00M	USD	1 Quarter
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.61B	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $2 million at January 1, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.49B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $2 million at January 1, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.10B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $2 million at January 1, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.97B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $2 million at January 1, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.08B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $1 million at March 31, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.49B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $1 million at March 31, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.10B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $1 million at March 31, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.97B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $1 million at March 31, 2019 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.08B	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$2.92B	USD	1 Quarter
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$736.00M	USD	1 Quarter
Net unrealized loss on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-70.00M	USD	1 Quarter
Net unrealized loss on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-48.00M	USD	1 Quarter
Net unrealized gain (loss) on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-99.00M	USD	1 Quarter
Net unrealized gain (loss) on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$82.00M	USD	1 Quarter
Benefit plan net gain and prior service credit, net of amortization	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-36.00M	USD	1 Quarter
Benefit plan net gain and prior service credit, net of amortization	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-15.00M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$257.00M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$150.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$124.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$199.00M	USD	1 Quarter
Comprehensive Income Attributable to Merck & Co., Inc.	`ComprehensiveIncomeNetOfTax`	$860.00M	USD	1 Quarter
Comprehensive Income Attributable to Merck & Co., Inc.	`ComprehensiveIncomeNetOfTax`	$3.11B	USD	1 Quarter

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