10-Q Filing

MERCK & CO., INC. CIK: 310158 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000310158-20-000009`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	mrk0331202010q_htm.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`	$86.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$89.00M	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$1.63B	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$1.48B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.42B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.69B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.71B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.68B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$7.00M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$774.00M	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $89 in 2020 and $86 in 2019)	`AccountsReceivableNetCurrent`	$6.78B	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $89 in 2020 and $86 in 2019)	`AccountsReceivableNetCurrent`	$8.18B	USD	Point-in-time
Inventories (excludes inventories of $1,630 in 2020 and $1,480 in 2019 classified in Other assets - see Note 6)	`InventoryNet`	$5.85B	USD	Point-in-time
Inventories (excludes inventories of $1,630 in 2020 and $1,480 in 2019 classified in Other assets - see Note 6)	`InventoryNet`	$5.98B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	1.04B	shares	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$4.71B	USD	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$4.28B	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	1.05B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$26.17B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.48B	USD	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$1.47B	USD	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$555.00M	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $17,706 in 2020 and $17,686 in 2019	`PropertyPlantAndEquipmentNet`	$15.27B	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $17,706 in 2020 and $17,686 in 2019	`PropertyPlantAndEquipmentNet`	$15.05B	USD	Point-in-time
Goodwill	`Goodwill`	$19.43B	USD	Point-in-time
Goodwill	`Goodwill`	$19.77B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$14.20B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$16.10B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$7.05B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$6.77B	USD	Point-in-time
Total Assets	`Assets`	$84.91B	USD	Point-in-time
Total Assets	`Assets`	$84.40B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$3.61B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$6.36B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$3.57B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$3.74B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$10.93B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$12.55B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$736.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.03B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.59B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.58B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.48B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.22B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$22.74B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$21.64B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.47B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.94B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$11.97B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$11.55B	USD	Point-in-time
Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2020 and 2019	`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 2020 and 2019	`CommonStockValue`	$1.79B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.66B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.70B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.27B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$46.60B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.19B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.39B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$81.86B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$83.37B	USD	Point-in-time
Less treasury stock, at cost: 1,053,090,194 shares in 2020 and 1,038,087,496 shares in 2019	`TreasuryStockValue`	$57.16B	USD	Point-in-time
Less treasury stock, at cost: 1,053,090,194 shares in 2020 and 1,038,087,496 shares in 2019	`TreasuryStockValue`	$55.95B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$26.20B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$25.91B	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$95.00M	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$94.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.67B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.00B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.30B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.88B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$84.40B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$84.91B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$12.06B	USD	1 Quarter
Sales	`Revenues`	$10.82B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.31B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.05B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.56B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.42B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.21B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.93B	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$72.00M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$153.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-188.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-71.00M	USD	1 Quarter
Total Costs, Expenses and Other	`CostsExpensesAndOther`	$8.22B	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`	$3.84B	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$205.00M	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$619.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$3.22B	USD	1 Quarter
Net Income	`ProfitLoss`	$2.86B	USD	1 Quarter
Less: Net Loss Attributable to Noncontrolling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net Loss 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`	$3.22B	USD	1 Quarter
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareBasic`	$1.27	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
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders (in dollars per share)	`EarningsPerShareDiluted`	$1.26	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

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCashAndCashEquivalents`	$258.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$35.00M	USD	Point-in-time
Net income	`ProfitLoss`	$3.22B	USD	1 Quarter
Net income	`ProfitLoss`	$2.86B	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$898.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$821.00M	USD	1 Quarter
Intangible asset impairment charges	`GoodwillAndIntangibleAssetImpairment`	$104.00M	USD	1 Quarter
Intangible asset impairment charges	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$194.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$82.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$108.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$93.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-143.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-120.00M	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$3.67B	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.94B	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.34B	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$707.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$986.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$595.00M	USD	1 Quarter
Purchases of securities and other investments	`PaymentsToAcquireMarketableSecurities`	$49.00M	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`	$1.82B	USD	1 Quarter
Acquisition of ArQule, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.54B	USD	1 Quarter
Acquisition of ArQule, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-38.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-136.00M	USD	1 Quarter
Net Cash (Used in) Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$368.00M	USD	1 Quarter
Net Cash (Used in) Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.63B	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$3.58B	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-4.13B	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	$1.95B	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`	$1.28B	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.09B	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.55B	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.43B	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$173.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$26.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-92.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-316.00M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.61B	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.49B	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`	$-63.00M	USD	1 Quarter
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.47B	USD	1 Quarter
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$110.00M	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $258 million at January 1, 2020 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.93B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $258 million at January 1, 2020 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 $258 million at January 1, 2020 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.46B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $258 million at January 1, 2020 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 $35 million at March 31, 2020 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.93B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $35 million at March 31, 2020 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 $35 million at March 31, 2020 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.46B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $35 million at March 31, 2020 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`	$3.22B	USD	1 Quarter
Net unrealized gain (loss) on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-48.00M	USD	1 Quarter
Net unrealized gain (loss) on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$104.00M	USD	1 Quarter
Net unrealized (loss) gain on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-18.00M	USD	1 Quarter
Net unrealized (loss) gain on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$82.00M	USD	1 Quarter
Benefit plan net gain and prior service credit, net of amortization	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-15.00M	USD	1 Quarter
Benefit plan net gain and prior service credit, net of amortization	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-60.00M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-344.00M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$150.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$199.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-198.00M	USD	1 Quarter
Comprehensive Income Attributable to Merck & Co., Inc.	`ComprehensiveIncomeNetOfTax`	$3.02B	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.