Thermo Fisher Scientific Q3 2024 10-Q Filed

TL;DR

TMO 10-Q filed: Q3 2024 financials out, shows debt details.

AI Summary

Thermo Fisher Scientific Inc. filed its 10-Q for the period ending September 28, 2024. The company's fiscal year ends on December 31st. Key financial data and debt instruments, including various senior notes due between 2025 and 2028, are detailed in the filing.

Why It Matters

This filing provides investors with an update on Thermo Fisher Scientific's financial performance and capital structure as of the third quarter of 2024.

Risk Assessment

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

Key Numbers

• 2025 — Senior Notes Maturity (Debt due in the upcoming year.)
• 2026 — Senior Notes Maturity (Debt due in the medium term.)
• 2027 — Senior Notes Maturity (Debt due in the medium term.)
• 2028 — Senior Notes Maturity (Debt due in the medium term.)

Key Players & Entities

• THERMO FISHER SCIENTIFIC INC. (company) — Filer
• 20240928 (date) — Reporting Period End Date
• 0000097745 (company) — Central Index Key
• 042209186 (company) — IRS Number
• DE (company) — State of Incorporation
• 1231 (date) — Fiscal Year End
• WALTHAM (company) — City
• MA (company) — State
• 02451 (company) — ZIP Code
• 7816221000 (company) — 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-20240928.htm (10-Q) — 1898KB
• q3202410qex311.htm (EX-31.1) — 10KB
• q3202410qex312.htm (EX-31.2) — 10KB
• q3202410qex321.htm (EX-32.1) — 7KB
• q3202410qex322.htm (EX-32.2) — 6KB
• 0000097745-24-000046.txt ( ) — 9525KB
• tmo-20240928.xsd (EX-101.SCH) — 54KB
• tmo-20240928_cal.xml (EX-101.CAL) — 82KB
• tmo-20240928_def.xml (EX-101.DEF) — 265KB
• tmo-20240928_lab.xml (EX-101.LAB) — 710KB
• tmo-20240928_pre.xml (EX-101.PRE) — 475KB
• tmo-20240928_htm.xml (XML) — 1784KB

- 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 12 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 22 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 32

- 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) September 28, December 31, (In millions except share and per share amounts) 2024 2023 Assets Current assets: Cash and cash equivalents $ 4,645 $ 8,077 Short-term investments 2,000 3 Accounts receivable, less allowances of $ 204 and $ 193 8,255 8,221 Inventories 5,430 5,088 Contract assets, net 1,541 1,443 Other current assets 1,911 1,757 Total current assets 23,783 24,589 Property, plant and equipment, net 9,412 9,448 Acquisition-related intangible assets, net 16,262 16,670 Other assets 4,180 3,999 Goodwill 46,726 44,020 Total assets $ 100,364 $ 98,726 Liabilities, redeemable noncontrolling interest and equity Current liabilities: Short-term obligations and current maturities of long-term obligations $ 4,116 $ 3,609 Accounts payable 2,606 2,872 Accrued payroll and employee benefits 1,823 1,596 Contract liabilities 2,663 2,689 Other accrued expenses 3,393 3,246 Total current liabilities 14,601 14,012 Deferred income taxes 1,123 1,922 Other long-term liabilities 4,343 4,642 Long-term obligations 31,197 31,308 Redeemable noncontrolling interest 127 118 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; 443,676,411 and 442,188,634 shares issued 444 442 Capital in excess of par value 17,831 17,286 Retained earnings 51,421 47,364 Treasury stock at cost, 61,176,146 and 55,541,290 shares ( 18,227 ) ( 15,133 ) Accumulated other comprehensive income/(loss) ( 2,477 ) ( 3,224 ) Total Thermo Fisher Scientific Inc. shareholders' equity 48,992 46,735 Noncontrolling interests ( 20 ) ( 11 ) Total equity 48,972 46,724 Total liabilities, redeemable noncontrolling interest and equity $ 100,364 $ 98,726 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 THERMO FIS

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View this 10-Q filing on SEC EDGAR