10-Q Filing

MERCK & CO., INC. CIK: 310158 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000310158-21-000009`
Period End Date	20210331
Filing Date	20210505
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	mrk-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 28 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$78.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$85.00M	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$2.20B	USD	Point-in-time
Inventories classified in Other assets	`InventoryNoncurrent`	$2.17B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.98B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.98B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.06B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.73B	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $78 in 2021 and $85 in 2020)	`AccountsReceivableNetCurrent`	$8.23B	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
Accounts receivable (net of allowance for doubtful accounts of $78 in 2021 and $85 in 2020)	`AccountsReceivableNetCurrent`	$7.85B	USD	Point-in-time
Inventories (excludes inventories of $2,175 in 2021 and $2,197 in 2020 classified in Other assets - see Note 6)	`InventoryNet`	$6.40B	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Inventories (excludes inventories of $2,175 in 2021 and $2,197 in 2020 classified in Other assets - see Note 6)	`InventoryNet`	$6.31B	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	6.50B	shares	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$5.54B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$5.29B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.58B	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	1.05B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.76B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.91B	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	1.05B	shares	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$785.00M	USD	Point-in-time
Investments	`MarketableSecuritiesNoncurrent`	$544.00M	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $18,732 in 2021 and $18,982 in 2020	`PropertyPlantAndEquipmentNet`	$17.99B	USD	Point-in-time
Property, Plant and Equipment, at cost, net of accumulated depreciation of $18,732 in 2021 and $18,982 in 2020	`PropertyPlantAndEquipmentNet`	$18.30B	USD	Point-in-time
Goodwill	`Goodwill`	$20.24B	USD	Point-in-time
Goodwill	`Goodwill`	$20.21B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$14.40B	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$14.60B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$10.21B	USD	Point-in-time
Other Assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$10.49B	USD	Point-in-time
Total Assets	`Assets`	$91.59B	USD	Point-in-time
Total Assets	`Assets`	$90.85B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$6.43B	USD	Point-in-time
Loans payable and current portion of long-term debt	`DebtCurrent`	$7.25B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$4.03B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$4.59B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$11.91B	USD	Point-in-time
Accrued and other current liabilities	`OtherLiabilitiesCurrent`	$13.05B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.49B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.57B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.68B	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.67B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.36B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.33B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$25.36B	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$24.00B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.20B	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.01B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$12.24B	USD	Point-in-time
Other Noncurrent Liabilities	`OtherLiabilitiesNoncurrent`	$12.48B	USD	Point-in-time
Common stock, $0.50 par value Authorized - 6,500,000,000 shares Issued - 3,577,103,522 shares in 2021 and 2020	`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 2021 and 2020	`CommonStockValue`	$1.79B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.59B	USD	Point-in-time
Other paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.61B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.36B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.89B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.62B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.63B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$82.10B	USD	Point-in-time
Stockholders' equity before deduction for treasury stock	`StockholdersEquityBeforeTreasuryStock`	$83.67B	USD	Point-in-time
Less treasury stock, at cost: 1,045,799,775 shares in 2021 and 1,046,877,695 shares in 2020	`TreasuryStockValue`	$56.79B	USD	Point-in-time
Less treasury stock, at cost: 1,045,799,775 shares in 2021 and 1,046,877,695 shares in 2020	`TreasuryStockValue`	$56.72B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$26.95B	USD	Point-in-time
Total Merck & Co., Inc. stockholders equity	`StockholdersEquity`	$25.32B	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$94.00M	USD	Point-in-time
Noncontrolling Interests	`MinorityInterest`	$87.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.30B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.40B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.00B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.04B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$91.59B	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$90.85B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$12.06B	USD	1 Quarter
Sales	`Revenues`	$12.08B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.67B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.31B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.56B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.63B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.46B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.21B	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$72.00M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$298.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-71.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$448.00M	USD	1 Quarter
Total Costs, Expenses and Other	`CostsExpensesAndOther`	$8.22B	USD	1 Quarter
Total Costs, Expenses and Other	`CostsExpensesAndOther`	$8.62B	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.84B	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.46B	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$619.00M	USD	1 Quarter
Taxes on Income	`IncomeTaxExpenseBenefit`	$276.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$3.22B	USD	1 Quarter
Net Income	`ProfitLoss`	$3.19B	USD	1 Quarter
Less: Net Income Attributable to Noncontrolling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$7.00M	USD	1 Quarter
Less: Net Income Attributable to Noncontrolling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$3.18B	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`	$1.26	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
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`	$1.25	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCashAndCashEquivalents`	$103.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$42.00M	USD	Point-in-time
Net income	`ProfitLoss`	$3.22B	USD	1 Quarter
Net income	`ProfitLoss`	$3.19B	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$534.00M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$410.00M	USD	1 Quarter
Depreciation	`Depreciation`	$411.00M	USD	1 Quarter
Depreciation	`Depreciation`	$396.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$82.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-10.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$120.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$108.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-143.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$331.00M	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.10B	USD	1 Quarter
Net changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$3.67B	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.79B	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`	$1.13B	USD	1 Quarter
Purchases of securities and other investments	`PaymentsToAcquireMarketableSecurities`	$49.00M	USD	1 Quarter
Purchases of securities and other investments	`PaymentsToAcquireMarketableSecurities`	$1.00M	USD	1 Quarter
Proceeds from sales of securities and other investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$386.00M	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	`PaymentsToAcquireBusinessThreeNetOfCashAcquired`	$2.54B	USD	1 Quarter
Acquisition of ArQule, Inc., net of cash acquired	`PaymentsToAcquireBusinessThreeNetOfCashAcquired`	-	USD	1 Quarter
Other acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$14.00M	USD	1 Quarter
Other acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-25.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-136.00M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-738.00M	USD	1 Quarter
Net Cash Used in 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`	$788.00M	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	$1.95B	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	$1.15B	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.28B	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.55B	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.65B	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$26.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-316.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-97.00M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.10B	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`	$-63.00M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-97.00M	USD	1 Quarter
Net Decrease in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.47B	USD	1 Quarter
Net Decrease in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.14B	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $103 at January 1, 2021 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.16B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $103 at January 1, 2021 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.02B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $103 at January 1, 2021 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 $103 at January 1, 2021 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 $42 at March 31, 2021 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.16B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $42 at March 31, 2021 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.02B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $42 at March 31, 2021 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 $42 at March 31, 2021 included in Other Assets)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.46B	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$3.18B	USD	1 Quarter
Net Income Attributable to Merck & Co., Inc.	`NetIncomeLoss`	$3.22B	USD	1 Quarter
Net unrealized gain on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$104.00M	USD	1 Quarter
Net unrealized gain on derivatives, net of reclassifications	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$230.00M	USD	1 Quarter
Net unrealized loss on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-18.00M	USD	1 Quarter
Net unrealized loss on investments, net of reclassifications	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Benefit plan net gain and prior service credit, net of amortization	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-81.00M	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`	$-299.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-198.00M	USD	1 Quarter
Other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$12.00M	USD	1 Quarter
Comprehensive Income Attributable to Merck & Co., Inc.	`ComprehensiveIncomeNetOfTax`	$3.02B	USD	1 Quarter
Comprehensive Income Attributable to Merck & Co., Inc.	`ComprehensiveIncomeNetOfTax`	$3.19B	USD	1 Quarter

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