Thermo Fisher Scientific Q2 2024 10-Q Filing

TL;DR

TMO's Q2 2024 10-Q is in - check financials.

AI Summary

Thermo Fisher Scientific Inc. filed its 10-Q for the period ending June 29, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors and stakeholders are presented.

Why It Matters

This filing provides investors with the latest financial results and operational details for Thermo Fisher Scientific, crucial for understanding the company's performance and future outlook.

Risk Assessment

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

Key Players & Entities

• THERMO FISHER SCIENTIFIC INC. (company) — Filer
• 20240629 (date) — Period of Report
• 0000097745-24-000040 (document_id) — Accession Number
• WALTHAM (location) — Business Address City
• 7816221000 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value TMO New York Stock Exchange

Filing Documents

• tmo-20240629.htm (10-Q) — 1878KB
• q2202410qex311.htm (EX-31.1) — 10KB
• q2202410qex312.htm (EX-31.2) — 10KB
• q2202410qex321.htm (EX-32.1) — 7KB
• q2202410qex322.htm (EX-32.2) — 6KB
• 0000097745-24-000040.txt ( ) — 9342KB
• tmo-20240629.xsd (EX-101.SCH) — 51KB
• tmo-20240629_cal.xml (EX-101.CAL) — 83KB
• tmo-20240629_def.xml (EX-101.DEF) — 255KB
• tmo-20240629_lab.xml (EX-101.LAB) — 688KB
• tmo-20240629_pre.xml (EX-101.PRE) — 466KB
• tmo-20240629_htm.xml (XML) — 1751KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Redeemable Noncontrolling Interest and Equity 7 Notes to Condensed Consolidated Financial Statements 9 Note 1. Nature of Operations and Summary of Significant Accounting Policies 9 Note 2. Acquisitions 10 Note 3. Revenues and Contract-related Balances 11 Note 4. Business Segment and Geographical Information 13 Note 5. Income Taxes 14 Note 6. Earnings per Share 15 Note 7. Debt and Other Financing Arrangements 15 Note 8. Commitments and Contingencies 17 Note 9. Comprehensive Income/(Loss) and Shareholders' Equity 18 Note 10. Fair Value Measurements and Fair Value of Financial Instruments 19 Note 11. Supplemental Cash Flow Information 21 Note 12. Restructuring and Other Costs 22 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 5. Other Information 32 Item 6. Exhibits 33 2 THERMO FISHER SCIENTIFIC INC.

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 29, December 31, (In millions except share and per share amounts) 2024 2023 Assets Current assets: Cash and cash equivalents $ 7,073 $ 8,077 Short-term investments 1,750 3 Accounts receivable, less allowances of $ 202 and $ 193 7,943 8,221 Inventories 5,198 5,088 Contract assets, net 1,487 1,443 Other current assets 2,025 1,757 Total current assets 25,476 24,589 Property, plant and equipment, net 9,282 9,448 Acquisition-related intangible assets, net 15,519 16,670 Other assets 4,377 3,999 Goodwill 43,843 44,020 Total assets $ 98,496 $ 98,726 Liabilities, redeemable noncontrolling interest and equity Current liabilities: Short-term obligations and current maturities of long-term obligations $ 5,121 $ 3,609 Accounts payable 2,547 2,872 Accrued payroll and employee benefits 1,495 1,596 Contract liabilities 2,591 2,689 Other accrued expenses 3,019 3,246 Total current liabilities 14,772 14,012 Deferred income taxes 1,516 1,922 Other long-term liabilities 4,391 4,642 Long-term obligations 30,284 31,308 Redeemable noncontrolling interest 115 118 Equity: Thermo Fisher Scientific Inc. shareholders' equity: Preferred stock, $ 100 par value, 50,000 shares authorized; none issued — — Common stock, $ 1 par value, 1,200,000,000 shares authorized; 443,105,658 and 442,188,634 shares issued 443 442 Capital in excess of par value 17,649 17,286 Retained earnings 49,940 47,364 Treasury stock at cost, 61,110,092 and 55,541,290 shares ( 18,187 ) ( 15,133 ) Accumulated other comprehensive income/(loss) ( 2,413 ) ( 3,224 ) Total Thermo Fisher Scientific Inc. shareholders' equity 47,432 46,735 Noncontrolling interests ( 12 ) ( 11 ) Total equity 47,419 46,724 Total liabilities, redeemable noncontrolling interest and equity $ 98,496 $ 98,726 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 THERMO FISHER SCI

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View this 10-Q filing on SEC EDGAR