Edwards Lifesciences Files Q2 2024 10-Q

TL;DR

EDWARDS LIFESCIENCES FILED ITS Q2 10-Q. CHECK FINANCIALS.

AI Summary

Edwards Lifesciences Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which specializes in orthopedic, prosthetic, and surgical appliances. Key financial data and business addresses are provided, with the company headquartered in Irvine, CA.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational status of Edwards Lifesciences, a key player in the medical device industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures are not detailed in the provided header information.)
• N/A — Assets (Specific asset figures are not detailed in the provided header information.)

Key Players & Entities

• Edwards Lifesciences Corp. (company) — Filer of the 10-Q
• ONE EDWARDS WAY, IRVINE, CA 92614 (location) — Company's business and mailing address
• 9492502500 (phone_number) — Company's business phone number
• 20240630 (date) — End of the reporting period

FAQ

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share EW New York Stock Exchange

Filing Documents

• ew-20240630.htm (10-Q) — 1850KB
• ex10110-qq22024.htm (EX-10.1) — 112KB
• ex-31110xqq22024.htm (EX-31.1) — 11KB
• ex-31210xqq22024.htm (EX-31.2) — 11KB
• ex-3210xqq22024.htm (EX-32) — 6KB
• ew-20240630_g1.jpg (GRAPHIC) — 49KB
• ew-20240630_g10.jpg (GRAPHIC) — 21KB
• ew-20240630_g11.jpg (GRAPHIC) — 23KB
• ew-20240630_g2.jpg (GRAPHIC) — 46KB
• ew-20240630_g3.jpg (GRAPHIC) — 64KB
• ew-20240630_g4.jpg (GRAPHIC) — 61KB
• ew-20240630_g5.jpg (GRAPHIC) — 62KB
• ew-20240630_g6.jpg (GRAPHIC) — 77KB
• ew-20240630_g7.jpg (GRAPHIC) — 73KB
• ew-20240630_g8.jpg (GRAPHIC) — 71KB
• ew-20240630_g9.jpg (GRAPHIC) — 22KB
• 0001099800-24-000078.txt ( ) — 13274KB
• ew-20240630.xsd (EX-101.SCH) — 57KB
• ew-20240630_cal.xml (EX-101.CAL) — 141KB
• ew-20240630_def.xml (EX-101.DEF) — 364KB
• ew-20240630_lab.xml (EX-101.LAB) — 869KB
• ew-20240630_pre.xml (EX-101.PRE) — 630KB
• ew-20240630_htm.xml (XML) — 2363KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Consolidated Condensed Balance Sheets 1 Consolidated Condensed Statements of Operations 2 Consolidated Condensed Statements of Comprehensive Income 3 Consolidated Condensed Statements of Cash Flows 4 Consolidated Condensed Statements of Stockholders' Equity 5 Notes to Consolidated Condensed Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 42 Item 6. Exhibits 43

Signatures

Signatures 44 NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend the forward-looking statements contained in this report to be covered by the safe harbor provisions of such Acts. Statements other than statements of historical or current fact in this report or referred to or incorporated by reference into this report are "forward-looking statements" for purposes of these safe harbor provisions. These statements can sometimes be identified by the use of the forward-looking words such as "may," "believe," "will," "expect," "project," "estimate," "should," "anticipate," "plan," "goal," "continue," "seek," "pro forma," "forecast," "intend," "guidance," "optimistic," "aspire," "confident," other forms of these words or similar words or expressions or the negatives thereof. Statements regarding past performance, efforts, or results about which inferences or assumptions may be made can also be forward-looking statements and are not indicative of future performance or results; these statements can be identified by the use of words such as "preliminary," "initial," "potential," "possible," "diligence," "industry-leading," "compliant," "indications," or "early feedback" or other forms of these words or similar words or expressions or the negatives thereof. These forward-looking statements are subject to substantial risks and uncertainties that could cause our results or future business, financial condition, results of operations or performance to differ materially from our historical results or experiences or those expressed or implied in any forward-looking statements contained in this report. These risks and uncertainties include, but are not limited to: our ability to complete or realize the anticipated benefits of the sale of our critical care product group; our ability to develop new products and avoid

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements EDWARDS LIFESCIENCES CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (in millions, except par value; unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 1,644.5 $ 1,136.1 Short-term investments (Note 5) 345.3 500.5 Accounts receivable, net of allowances of $ 13.9 and $ 8.3 , respectively 778.3 771.5 Other receivables 56.1 56.6 Inventories (Note 2) 1,024.7 918.3 Prepaid expenses 110.2 128.8 Other current assets 252.1 224.9 Current assets of discontinued operations (Note 4) 304.8 299.0 Total current assets 4,516.0 4,035.7 Long-term investments (Note 5) 353.3 583.9 Property, plant, and equipment, net 1,640.1 1,592.8 Operating lease right-of-use assets 92.8 84.4 Goodwill 1,151.0 1,152.5 Other intangible assets, net 417.1 399.4 Deferred income taxes 832.6 749.4 Other assets (Note 2) 789.8 463.1 Non-current assets of discontinued operations (Note 4) 306.6 302.0 Total assets $ 10,099.3 $ 9,363.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 185.9 $ 186.6 Accrued and other liabilities (Note 2) 902.4 858.2 Operating lease liabilities 21.5 22.9 Current liabilities of discontinued operations (Note 4) 107.2 127.7 Total current liabilities 1,217.0 1,195.4 Long-term debt 597.3 597.0 Taxes payable 1.1 80.6 Operating lease liabilities 74.2 65.2 Uncertain tax positions 343.2 335.0 Litigation settlement accrual 74.8 94.2 Other liabilities 257.1 251.3 Non-current liabilities of discontinued operations (Note 4) 30.0 25.1 Total liabilities 2,594.7 2,643.8 Commitments and contingencies (Note 11) Stockholders' equity Preferred stock, $ 0.01 par value, authorized 50.0 shares, no shares outstanding — — Common stock, $ 1.00 par value, 1,050.0 shares authorized, 653.5 and 650.5 shares issued, and 602.3 and 601.1 shares outstanding, respectively 653.5 650.5 Additional paid-in capital 2,476.3 2,274.4 Retained earnings 9,710.6 8,992.4 Accumulat

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View this 10-Q filing on SEC EDGAR