ZIMMER BIOMET HOLDINGS, INC. ZBH Income Statement

Zimmer biomet holdings, inc. (ZBH)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08
Net Sales
1,783,800	2,125,700	1,892,400	1,988,600	1,975,500	2,071,000	1,836,700	2,007,600	2,017,600	2,068,300	1,813,100	1,949,500	1,972,400	1,997,600	1,832,800	1,934,000	1,904,000	1,933,600	1,762,200	1,167,600	1,134,400	1,222,900	1,106,000	1,182,900	1,161,500	1,240,700	1,074,300	1,169,500	1,138,900	1,180,500	1,025,500	1,125,000	1,140,700	1,167,300	1,031,500	1,137,400	1,115,600	1,134,700	965,000	1,057,700	1,062,800	1,107,300	975,600	1,019,900	992,600	952,200
Cost of products sold, excluding intangible asset amortization
487,100	582,200	535,700	581,300	553,400	583,400	529,000	583,700	575,800	591,400	500,900	527,700	512,900	621,800	479,300	640,100	640,600	669,300	552,100	294,300	284,900	311,600	295,900	331,600	303,700	321,400	328,800	323,600	292,900	298,900	255,700	281,900	288,700	303,200	251,900	287,900	279,000	274,100	219,100	250,600	268,400	274,400	249,300	236,800	230,200	237,200
Intangible asset amortization
147,600	147,400	146,600	146,900	143,400	148,000	147,600	149,500	150,800	151,500	152,700	147,700	152,000	141,200	164,300	133,800	126,600	161,400	122,600	33,000	20,400	20,500	20,600	22,200	29,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	851,300	857,800	-	745,500	845,900	846,000	881,600	769,800	843,100	852,000	864,100	779,600	849,500	836,600	860,600	745,900	807,100	794,400	832,900	726,300	783,100	762,400	715,000
Research and development
98,400	121,100	114,400	112,100	101,700	101,200	95,700	99,100	95,700	95,000	91,200	92,600	91,100	95,700	95,600	88,600	85,700	85,900	83,300	51,300	48,300	46,100	45,900	48,000	47,400	45,200	49,400	54,900	53,500	55,300	53,500	57,200	59,600	64,900	61,000	56,900	55,600	56,500	57,300	54,200	50,500	51,700	52,200	49,900	51,900	47,900
Selling, general and administrative
828,900	877,000	830,100	840,300	796,400	998,600	787,700	791,300	801,700	882,600	711,700	752,200	758,200	768,000	727,700	732,000	716,900	723,600	692,300	444,200	424,100	447,300	422,800	436,100	444,500	392,500	438,000	458,000	460,800	460,500	430,000	453,300	463,300	462,000	444,000	470,000	458,300	461,600	412,000	438,300	447,200	460,100	412,900	432,300	423,700	403,700
Acquisition, quality remediation and other (Note 4)
-	-	-	-	-	-	-	-	-	-	-	-	110,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Certain claims (Note 20)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,700	-	-	-300	21,800	-	-	-	47,000	-	-	-	-	-	-	-	50,000	-	-	-	75,000	-	-	35,000	-	-	47,500
Goodwill impairment
612,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring and other cost reduction initiatives
45,000	-	-	-	4,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill and intangible asset impairment
-	-	-	-	-	-	-	-	-	-	32,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Quality remediation
16,400	19,300	20,700	22,700	19,700	34,600	32,200	37,500	42,600	-	51,100	49,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible asset impairment
-	-	-	70,100	-	-	3,800	-	-	-	-	26,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition, integration and related
4,400	-3,400	-900	10,500	6,000	-14,400	17,400	50,500	46,000	-	61,600	72,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net curtailment and settlement (Note 14)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-32,100	-	0
Special items (Note 2)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	170,400	137,900	88,700	87,600	195,900	469,200	86,800	176,300	65,900	62,300	36,600	54,800	46,400	75,600	33,500	54,300	36,900	30,700	33,500	28,200	8,000	13,500	25,500	15,600	5,000	11,500	2,600	-	-	-	-	-
Operating expenses
2,239,800	1,788,900	1,646,600	1,783,900	1,625,300	2,861,500	1,613,400	1,711,600	1,712,600	2,108,400	1,601,900	1,669,400	1,624,300	1,819,100	1,637,300	1,732,400	1,658,500	1,720,100	1,646,200	1,299,700	864,500	1,637,100	850,800	590,400	557,700	1,837,700	533,800	635,500	547,800	681,100	520,400	541,200	556,400	662,900	513,000	590,400	539,400	737,700	474,300	579,000	500,300	594,400	522,300	486,600	482,600	504,700
Acquisition, integration, realignment and other (Note 2)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,200	36,500	7,000	5,600
Operating (Loss) Profit
-456,000	336,800	245,800	204,700	350,200	-790,500	223,300	296,000	305,000	-40,100	211,200	280,100	348,100	178,500	195,500	201,600	245,500	213,500	116,000	-132,100	269,900	221,100	255,200	260,900	300,100	348,300	211,700	210,400	298,200	200,500	249,400	301,900	295,600	201,200	266,600	259,100	297,200	122,900	271,600	228,100	294,100	238,500	204,000	296,500	279,800	210,300
Other income (expense), net
3,000	4,800	-4,400	-4,700	-500	-6,900	-2,200	-2,900	-3,600	-4,900	-2,300	-1,700	-500	-57,800	-1,100	-3,800	-3,800	-90,100	4,300	26,300	22,600	-47,900	-12,100	11,600	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	-	-	-	-	-	-	-	-	600	300	500	-	600	800	1,300	2,000	2,300	2,500	2,600	3,500	3,000	2,900	2,500	4,200	3,800	3,900	3,700	4,900	3,800	3,800	3,100	3,500	1,300	3,300	2,000	-	-	-	-	-	-	-	-	-
Interest expense
-50,900	-52,400	-56,800	-59,700	-58,000	-68,500	-67,500	-75,300	-78,000	-572,800	82,300	82,300	82,900	-622,800	91,500	88,100	88,200	90,000	90,800	82,700	23,100	16,000	16,300	15,800	15,000	16,500	17,100	18,300	18,200	18,900	18,300	18,100	17,600	16,200	13,000	13,100	13,000	103,300	-14,200	-14,300	-14,600	-	-	-	-	-
(Loss) earnings before income taxes
-503,900	289,200	184,600	140,300	291,700	-865,900	153,600	217,800	223,400	-124,200	127,200	196,400	265,200	30,800	103,500	110,500	154,800	133,200	31,800	-238,600	226,800	187,300	229,800	236,400	285,900	330,000	198,400	196,000	283,700	186,500	234,900	287,600	281,100	188,500	254,900	249,300	286,200	109,500	257,400	213,800	279,500	229,800	199,800	292,500	276,100	238,500
Interest and other income (expense), net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,200	-4,000	-3,700	28,200
Provision for income taxes
5,200	-32,200	-247,400	8,400	45,500	36,600	-8,500	32,900	47,200	-1,355,400	28,400	12,300	-34,100	-38,900	-54,400	142,200	46,100	6,500	9,600	-64,800	55,700	38,200	56,900	60,300	64,800	75,200	44,300	44,300	65,700	34,200	57,200	73,600	72,200	32,400	63,700	45,500	77,300	74,600	66,300	48,300	74,100	74,600	49,900	82,400	73,900	23,500
Net (Loss) Earnings
-509,100	321,400	432,000	131,900	246,200	-902,500	162,100	184,900	176,200	1,231,200	98,800	184,100	299,300	69,700	157,900	-31,700	108,700	126,700	22,200	-173,800	171,100	149,100	172,900	176,100	221,100	254,800	154,100	151,700	218,000	152,300	177,700	214,000	208,900	156,100	191,200	203,800	208,900	-	191,100	-	-	-	-	-	-	215,000
Less: Net (loss) earnings attributable to noncontrolling interest
-600	700	900	-1,800	100	-1,400	-100	-100	1,500	-200	0	-100	-100	100	-900	-400	-100	-300	0	-200	-300	-100	-200	-400	-400	-500	-300	-400	-600	-500	-400	-500	-700	-	-300	-	-	-	-	-	-	-	-	-	-	300
Net (Loss) Earnings of Zimmer Biomet Holdings, Inc.
-508,500	320,700	431,100	133,700	246,100	-901,100	162,200	185,000	174,700	1,231,400	98,800	184,200	299,400	69,600	158,800	-31,300	108,800	127,000	22,200	-173,600	171,400	149,200	173,100	176,500	221,500	255,300	154,400	152,100	218,600	152,800	178,100	214,500	209,600	156,600	191,500	203,800	208,900	34,900	191,100	165,500	205,400	155,200	149,900	210,100	202,200	214,700
(Loss) Earnings Per Common Share
Basic
-2.46	1.57	2.10	0.65	1.20	-4.43	0.80	0.91	0.86	6.09	0.49	0.91	1.49	0.36	0.79	-0.16	0.54	0.66	0.11	-1.00	1.01	0.88	1.02	1.05	1.31	1.49	0.91	0.90	1.30	0.90	1.02	1.22	1.18	0.89	1.02	1.06	1.08	0.19	0.96	0.82	1.01	0.75	0.70	0.98	0.91	0.96
Diluted
-2.46	1.54	2.08	0.65	1.20	-4.40	0.79	0.90	0.85	6.05	0.48	0.90	1.47	0.35	0.78	-0.16	0.54	0.67	0.11	-1.00	0.99	0.87	1.01	1.03	1.29	1.47	0.90	0.89	1.28	0.88	1.02	1.22	1.17	0.88	1.01	1.06	1.08	0.18	0.96	0.82	1.01	0.73	0.70	0.98	0.91	0.95
Weighted Average Common Shares Outstanding
Basic
206,500	205,900	205,300	204,800	204,400	204,000	203,700	203,300	203,000	202,400	202,300	201,800	201,100	200,400	200,100	199,400	200,100	203,100	203,500	173,000	170,000	169,500	169,000	168,400	169,100	170,900	170,000	168,800	168,700	172,900	174,100	175,200	177,400	178,600	187,700	191,500	192,600	196,400	198,700	201,900	203,000	210,200	213,600	214,700	221,500	224,700
Diluted
206,500	207,800	207,000	206,200	205,800	199,400	205,400	204,600	204,600	204,000	204,000	203,700	203,100	205,100	202,900	199,400	202,200	207,600	205,700	173,000	172,900	172,300	171,700	171,000	171,800	173,600	172,200	170,700	170,700	174,000	175,300	176,200	178,500	179,500	188,800	192,700	193,800	197,500	199,700	203,000	204,200	211,100	214,500	215,500	222,100	225,600
Cash Dividends Declared Per Common Share
-	-	-	-	-	-	-	-	-	-	0.24	0.24	0.24	-	0.24	0.24	0.24	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.20	0.20	0.20	0.20	-	0.18	0.18	-	-	-	-	-	-	-	-	-	-	-	-	-	-