Thermo Fisher Scientific Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Thermo Fisher Scientific Inc. has filed its 2023 10-K report detailing its fiscal year performance and corporate information.</b>

AI Summary

THERMO FISHER SCIENTIFIC INC. (TMO) filed a Annual Report (10-K) with the SEC on February 22, 2024. Thermo Fisher Scientific Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 168 Third Avenue, Waltham, MA 02451. Thermo Fisher Scientific Inc. was formerly known as Thermo Electron Corp, with a name change on July 3, 1992. The company's standard industrial classification is 'Measuring & Controlling Devices, NEC' [3829].

Why It Matters

For investors and stakeholders tracking THERMO FISHER SCIENTIFIC INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Thermo Fisher Scientific's financial health, operational performance, and strategic positioning for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial stability, growth prospects, and potential risks, informing investment decisions.

Risk Assessment

Risk Level: medium — THERMO FISHER SCIENTIFIC INC. shows moderate risk based on this filing. The company's 10-K filing, while comprehensive, does not immediately reveal specific financial performance metrics or significant risk factors that would indicate a high level of risk. However, the absence of readily available detailed financial data in the provided header information suggests a need for deeper analysis of the full report to ascertain the true risk profile.

Analyst Insight

Review the full 10-K filing to analyze detailed financial statements, management discussion and analysis, and risk factors to understand Thermo Fisher Scientific's performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240222 — Filing Date (Filed as of date)
• 3829 — Standard Industrial Classification (SIC code for Measuring & Controlling Devices, NEC)
• 0000097745 — Central Index Key (Company's SEC identifier)

Key Players & Entities

• THERMO FISHER SCIENTIFIC INC. (company) — Filer name
• TMO (company) — Ticker symbol
• 168 THIRD AVENUE (company) — Business address street 1
• WALTHAM (company) — Business address city
• MA (company) — Business address state
• 02451 (company) — Business address zip
• THERMO ELECTRON CORP (company) — Former company name
• 19920703 (date) — Date of name change

FAQ

Industry Context

Thermo Fisher Scientific operates in the scientific instrumentation, reagents, and consumables industry, serving research, clinical, and industrial markets.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) for publicly traded companies in the United States.

What Investors Should Do

1. Thoroughly review the full 10-K document for detailed financial statements, including revenue, net income, and balance sheet information.
2. Analyze the Management's Discussion and Analysis (MD&A) section for insights into the company's performance drivers, strategies, and outlook.
3. Examine the Risk Factors section to understand potential challenges and uncertainties facing Thermo Fisher Scientific.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data provided for the 2023 10-K. Comparative data from the previous filing (2022 10-K) is not available in this extract.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value TMO New York Stock Exchange
• $75 million — ities for environmental matters totaled $75 million at December 31, 2023. These environmen

Filing Documents

• tmo-20231231.htm (10-K) — 2943KB
• q4202310-kex34.htm (EX-3.4) — 217KB
• q4202310-kex101.htm (EX-10.1) — 31KB
• q4202310-kex1049.htm (EX-10.49) — 621KB
• q4202310-kex21.htm (EX-21) — 782KB
• q4202310-kex22.htm (EX-22) — 3KB
• q4202310-kex231pwcconsent.htm (EX-23.1) — 2KB
• q4202310-kex311.htm (EX-31.1) — 10KB
• q4202310-kex312.htm (EX-31.2) — 10KB
• q4202310-kex321.htm (EX-32.1) — 6KB
• q4202310-kex322.htm (EX-32.2) — 6KB
• q4202310-kex97.htm (EX-97) — 16KB
• image_0.jpg (GRAPHIC) — 19KB
• 0000097745-24-000007.txt (&nbsp;) — 18953KB
• tmo-20231231.xsd (EX-101.SCH) — 81KB
• tmo-20231231_cal.xml (EX-101.CAL) — 136KB
• tmo-20231231_def.xml (EX-101.DEF) — 542KB
• tmo-20231231_lab.xml (EX-101.LAB) — 1342KB
• tmo-20231231_pre.xml (EX-101.PRE) — 887KB
• tmo-20231231_htm.xml (XML) — 3461KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. Reserved 19 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 29 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 73 Item 9A.

Controls and Procedures

Controls and Procedures 73 Item 9B. Other Information 73 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 PART III Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.

Executive Compensation

Executive Compensation 74 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74 Item 13. Certain Relationships and Related Transactions, and Director Independence 74 Item 14. Principal Accountant Fees and Services 74 PART IV Item 15. Exhibits and Financial Statement Schedules 74 Item 16. Form 10-K Summary 78 2 THERMO FISHER SCIENTIFIC INC. PART I

Forward-looking Statements

Forward-looking Statements Forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934 (the Exchange Act), are made throughout this Annual Report on Form 10-K. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, including without limitation statements regarding: projections of revenues, expenses, earnings, margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, and our liquidity position; cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions or divestitures; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the timing of any of the foregoing; assumptions underlying any of the foregoing; the COVID-19 pandemic; and any other statements that address events or developments that Thermo Fisher intends or believes will or may occur in the future. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "seeks," "estimates," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. While the company may elect to update forward-looking statements in the future, it specifically disclaims any obligation to do so, even if the company's estimates change, and readers should not rely on those forward-looking statements as representing the company's views as of any date subsequent to the date of the filing of this report. A number of important factors could cause the results of the company to differ materially from those indicated by s

Business

Item 1. Business Description of Business Thermo Fisher Scientific Inc. (also referred to in this document as "Thermo Fisher," "we," the "company," or the "registrant") is the world leader in serving science. Our Mission is to enable our customers to make the world healthier, cleaner and safer. We serve customers working in pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental, industrial, research and development, quality and process control settings. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. We continuously increase our depth of capabilities across our broad portfolio of innovative products and services and leverage our extensive global channels to address our customers' needs. We do this through organic investments in research and development, capacity and capabilities and through acquisitions. Our goal is to enable our customers to be more productive in an increasingly competitive business environment, enable them to accelerate innovation, solve their challenges and advance their important work. Business Segments and Products We report our business in four segments – Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. Life Sciences Solutions Segment Through our Life Sciences Solutions segment, we provide an extensive portfolio of reagents, instruments and consumables used in biological and medical research, discovery and production of new drugs and vaccines as well as diagnosis of infection and disease. These products and services are used by customers in pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government

View Full Filing

View this 10-K filing on SEC EDGAR