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10-Q Filing

ZIMMER BIOMET HOLDINGS, INC. CIK: 1136869 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001564590-19-015985
Period End Date 20190331
Filing Date 20190506
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance zbh-20190331.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $542.80M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 307.90M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $586.80M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 308.70M shares Point-in-time
Treasury stock, shares TreasuryStockShares 103.90M shares Point-in-time
Treasury stock, shares TreasuryStockShares 103.90M shares Point-in-time
Accounts receivable, less allowance for doubtful accounts AccountsReceivableNetCurrent $1.28B USD Point-in-time
Accounts receivable, less allowance for doubtful accounts AccountsReceivableNetCurrent $1.23B USD Point-in-time
Inventories InventoryNet $2.31B USD Point-in-time
Inventories InventoryNet $2.26B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $376.90M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $352.30M USD Point-in-time
Total Current Assets AssetsCurrent $4.50B USD Point-in-time
Total Current Assets AssetsCurrent $4.43B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.01B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.02B USD Point-in-time
Goodwill Goodwill $9.59B USD Point-in-time
Goodwill Goodwill $9.57B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $7.68B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $7.52B USD Point-in-time
Other assets OtherAssetsNoncurrent $683.30M USD Point-in-time
Other assets OtherAssetsNoncurrent $405.00M USD Point-in-time
Total Assets Assets $24.13B USD Point-in-time
Total Assets Assets $24.29B USD Point-in-time
Accounts payable AccountsPayableCurrent $361.10M USD Point-in-time
Accounts payable AccountsPayableCurrent $362.60M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $142.40M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $178.20M USD Point-in-time
Salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $193.10M USD Point-in-time
Salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $260.30M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.13B USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.02B USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $525.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $500.00M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.25B USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.42B USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $990.20M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $999.50M USD Point-in-time
Long-term income tax payable AccruedIncomeTaxesNoncurrent $662.60M USD Point-in-time
Long-term income tax payable AccruedIncomeTaxesNoncurrent $666.20M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $531.30M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $350.00M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $8.31B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $8.41B USD Point-in-time
Total Liabilities Liabilities $12.75B USD Point-in-time
Total Liabilities Liabilities $12.85B USD Point-in-time
Commitments and Contingencies (Note 16) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 16) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.01 par value, one billion shares authorized, 308.7 million shares in 2019 (307.9 million in 2018) issued CommonStockValue $3.10M USD Point-in-time
Common stock, $0.01 par value, one billion shares authorized, 308.7 million shares in 2019 (307.9 million in 2018) issued CommonStockValue $3.10M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $8.69B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $8.75B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.69B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.49B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-187.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-183.50M USD Point-in-time
Treasury stock, 103.9 million shares in 2019 (103.9 million shares in 2018) TreasuryStockValue $6.72B USD Point-in-time
Treasury stock, 103.9 million shares in 2019 (103.9 million shares in 2018) TreasuryStockValue $6.72B USD Point-in-time
Total Zimmer Biomet Holdings, Inc. stockholders' equity StockholdersEquity $11.53B USD Point-in-time
Total Zimmer Biomet Holdings, Inc. stockholders' equity StockholdersEquity $11.27B USD Point-in-time
Noncontrolling interest MinorityInterest $4.80M USD Point-in-time
Noncontrolling interest MinorityInterest $4.90M USD Point-in-time
Total Stockholders' Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.28B USD Point-in-time
Total Stockholders' Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.74B USD Point-in-time
Total Stockholders' Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.00B USD Point-in-time
Total Stockholders' Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.54B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $24.13B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $24.29B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $1.98B USD 1 Quarter
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $2.02B USD 1 Quarter
Cost of products sold, excluding intangible asset amortization CostOfGoodsAndServicesSold $575.80M USD 1 Quarter
Cost of products sold, excluding intangible asset amortization CostOfGoodsAndServicesSold $553.40M USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $143.40M USD 1 Quarter
Intangible asset amortization AmortizationOfIntangibleAssets $150.80M USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost $101.70M USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost $95.70M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $796.40M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $801.70M USD 1 Quarter
Acquisition, integration and related AcquisitionIntegrationAndRelatedExpenses $10.70M USD 1 Quarter
Acquisition, integration and related AcquisitionIntegrationAndRelatedExpenses $46.00M USD 1 Quarter
Quality remediation QualityRemediationCosts $42.60M USD 1 Quarter
Quality remediation QualityRemediationCosts $19.70M USD 1 Quarter
Operating expenses CostsAndExpenses $1.63B USD 1 Quarter
Operating expenses CostsAndExpenses $1.71B USD 1 Quarter
Operating Profit OperatingIncomeLoss $350.20M USD 1 Quarter
Operating Profit OperatingIncomeLoss $305.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-500.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-3.60M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-58.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-78.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $291.70M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $223.40M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $47.20M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $45.50M USD 1 Quarter
Net Earnings ProfitLoss $246.20M USD 1 Quarter
Net Earnings ProfitLoss $176.20M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $100.00K USD 1 Quarter
Less: Net earnings attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $1.50M USD 1 Quarter
Net Earnings of Zimmer Biomet Holdings, Inc. NetIncomeLoss $246.10M USD 1 Quarter
Net Earnings of Zimmer Biomet Holdings, Inc. NetIncomeLoss $174.70M USD 1 Quarter
Basic EarningsPerShareBasic $0.86 USD 1 Quarter
Basic EarningsPerShareBasic $1.20 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.20 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.85 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 203.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 204.40M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 204.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 205.80M shares 1 Quarter
Cash Flow Statement 57 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $246.20M USD 1 Quarter
Net earnings ProfitLoss $176.20M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $247.70M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $263.50M USD 1 Quarter
Share-based compensation ShareBasedCompensation $20.30M USD 1 Quarter
Share-based compensation ShareBasedCompensation $13.90M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $24.50M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $8.60M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-50.70M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-146.20M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $39.60M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $50.70M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-27.70M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-231.40M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $23.70M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $50.60M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $283.60M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $490.50M USD 1 Quarter
Additions to instruments AdditionsToInstruments $63.70M USD 1 Quarter
Additions to instruments AdditionsToInstruments $60.40M USD 1 Quarter
Additions to other property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $26.70M USD 1 Quarter
Additions to other property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $37.80M USD 1 Quarter
Net investment hedge settlements ProceedsFromHedgeInvestingActivities $10.50M USD 1 Quarter
Investments in other assets PaymentsForProceedsFromOtherInvestingActivities $14.60M USD 1 Quarter
Investments in other assets PaymentsForProceedsFromOtherInvestingActivities $14.50M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-101.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-105.50M USD 1 Quarter
Proceeds from senior notes ProceedsFromIssuanceOfSeniorLongTermDebt $749.50M USD 1 Quarter
Proceeds from senior notes ProceedsFromIssuanceOfSeniorLongTermDebt $749.50M USD Point-in-time
Proceeds from multicurrency revolving facility ProceedsFromLinesOfCredit $400.00M USD 1 Quarter
Proceeds from term loans ProceedsFromIssuanceOfUnsecuredDebt $200.00M USD 1 Quarter
Payments on term loans RepaymentsOfLongTermDebt $225.00M USD 1 Quarter
Payments on term loans RepaymentsOfLongTermDebt $310.00M USD 1 Quarter
Net payments on other debt ProceedsFromRepaymentsOfOtherDebt $-200.00K USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $49.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $48.60M USD 1 Quarter
Proceeds from employee stock compensation plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $47.90M USD 1 Quarter
Proceeds from employee stock compensation plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $44.40M USD 1 Quarter
Net cash flows from unremitted collections from factoring programs NetCashFlowsBetweenTransfereeAndTransferorUnremittedCollectionsFromFactoringPrograms $60.80M USD 1 Quarter
Net cash flows from unremitted collections from factoring programs NetCashFlowsBetweenTransfereeAndTransferorUnremittedCollectionsFromFactoringPrograms $16.40M USD 1 Quarter
Business combination contingent consideration payments PaymentForContingentConsiderationLiabilityFinancingActivities $13.60M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-7.40M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-4.20M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $841.80M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-135.20M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.10M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $10.40M USD 1 Quarter
Increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $44.00M USD 1 Quarter
Increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.24B USD 1 Quarter
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.77B USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $524.40M USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $542.80M USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $586.80M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.77B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $524.40M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $542.80M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $586.80M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Cash dividend declared per share CommonStockDividendsPerShareDeclared $0.24 USD 1 Quarter
Cash dividend declared per share CommonStockDividendsPerShareDeclared $0.24 USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.28B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.74B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.00B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.54B USD Point-in-time
Net earnings ProfitLoss $246.20M USD 1 Quarter
Net earnings ProfitLoss $176.20M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.90M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $74.70M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $48.70M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $49.20M USD 1 Quarter
Stock compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $62.30M USD 1 Quarter
Stock compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $61.80M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.28B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.74B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.00B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.54B USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net Earnings ProfitLoss $246.20M USD 1 Quarter
Net Earnings ProfitLoss $176.20M USD 1 Quarter
Foreign currency cumulative translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-4.40M USD 1 Quarter
Foreign currency cumulative translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $94.80M USD 1 Quarter
Unrealized cash flow hedge gains (losses), net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $14.50M USD 1 Quarter
Unrealized cash flow hedge gains (losses), net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $-26.40M USD 1 Quarter
Reclassification adjustments on hedges, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $-9.70M USD 1 Quarter
Reclassification adjustments on hedges, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $8.20M USD 1 Quarter
Adjustments to prior service cost and unrecognized actuarial assumptions, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $3.30M USD 1 Quarter
Adjustments to prior service cost and unrecognized actuarial assumptions, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-2.00M USD 1 Quarter
Total Other Comprehensive Income OtherComprehensiveIncomeLossNetOfTax $74.80M USD 1 Quarter
Total Other Comprehensive Income OtherComprehensiveIncomeLossNetOfTax $3.90M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $251.00M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $250.10M USD 1 Quarter
Comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.40M USD 1 Quarter
Comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $100.00K USD 1 Quarter
Comprehensive Income (Loss) attributable to Zimmer Biomet Holdings, Inc. ComprehensiveIncomeNetOfTax $249.60M USD 1 Quarter
Comprehensive Income (Loss) attributable to Zimmer Biomet Holdings, Inc. ComprehensiveIncomeNetOfTax $250.00M USD 1 Quarter

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

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