Edwards Lifesciences Files Q3 2024 10-Q

Ticker: EW · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1099800

Edwards Lifesciences Corp 10-Q Filing Summary
FieldDetail
CompanyEdwards Lifesciences Corp (EW)
Form Type10-Q
Filed DateNov 6, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

EDWARDS LIFESCIENCES FILED Q3 10-Q - CHECK FINANCIALS

AI Summary

Edwards Lifesciences Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides crucial financial and operational insights into Edwards Lifesciences' performance, impacting investor decisions and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

  • Edwards Lifesciences Corp. (company) — Filer of the 10-Q
  • 20240930 (date) — End of the reporting period
  • 20241106 (date) — Filing date
  • ONE EDWARDS WAY (address) — Company's business and mailing address
  • IRVINE (location) — City of company's address
  • CA (location) — State of company's address
  • 92614 (zip_code) — Zip code of company's address
  • 9492502500 (phone_number) — Company's business phone number

FAQ

What is the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing is the quarter ended September 30, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on November 6, 2024.

What is the company's primary business address?

The company's primary business address is One Edwards Way, Irvine, CA 92614.

What is the SIC code for Edwards Lifesciences Corp.?

The Standard Industrial Classification (SIC) code for Edwards Lifesciences Corp. is 3842, which pertains to Orthopedic, Prosthetic & Surgical Appliances & Supplies.

What is the company's fiscal year end?

The company's fiscal year ends on December 31.

Filing Stats: 4,571 words · 18 min read · ~15 pages · Grade level 7.3 · Accepted 2024-11-06 16:20:18

Key Financial Figures

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

Filing Documents

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 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 46 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) September 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 3,676.4 $ 1,132.3 Short-term investments (Note 6) 769.7 500.5 Accounts receivable, net of allowances of $ 12.6 and $ 8.2 , respectively 716.0 771.5 Other receivables 95.5 56.6 Inventories (Note 2) 1,104.2 903.5 Prepaid expenses 114.9 128.8 Other current assets 231.0 224.9 Current assets of discontinued operations (Note 5) 20.0 317.6 Total current assets 6,727.7 4,035.7 Long-term investments (Note 6) 319.6 583.9 Property, plant, and equipment, net 1,675.7 1,591.0 Operating lease right-of-use assets 104.4 84.4 Goodwill 1,605.3 1,145.1 Other intangible assets, net 956.1 399.4 Deferred income taxes 888.4 749.4 Other assets (Note 2) 683.5 463.2 Non-current assets of discontinued operations (Note 5) 10.5 311.1 Total assets $ 12,971.2 $ 9,363.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 172.8 $ 186.6 Accrued and other liabilities (Note 2) 1,745.3 856.4 Operating lease liabilities 24.2 22.9 Current liabilities of discontinued operations (Note 5) 1.8 129.5 Total current liabilities 1,944.1 1,195.4 Long-term debt 597.5 597.0 Taxes payable 1.1 80.6 Operating lease liabilities 85.0 65.2 Uncertain tax positions 345.6 335.0 Litigation settlement accrual 63.9 94.2 Other liabilities 322.6 251.3 Non-current liabilities of discontinued operations (Note 5) — 25.1 Total liabilities 3,359.8 2,643.8 Commitments and contingencies (Note 13) 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, 654.3 and 650.5 shares issued, and 589.8 and 601.1 shares outstanding, respectively 654.3 650.5 Additional paid-in capital 2,452.1 2,274.4 Retained earnings 12,781.4 8,992.4 Accumul

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