Thermo Fisher Scientific Inc. Financial Statements — TMO

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	10,110	10,393	11,559	12,510	13,090	16,890	16,965	18,274	20,918	24,358	25,542	32,218	39,211	44,915	42,857
+ Sales & Services Revenue	10,110	10,393	11,559	12,510	13,090	16,890	16,965	18,274	20,918	24,358	25,542	32,218	39,211	44,915	42,857
- Cost of Revenue	6,085	6,132	6,765	7,214	7,561	9,398	9,209	9,902	11,470	13,501	14,214	16,214	19,573	25,944	25,757
+ Cost of Goods & Services	6,085	6,132	6,765	7,214	7,561	9,398	9,209	9,902	11,470	13,501	14,214	16,214	19,573	25,944	25,757
Gross Profit	4,025	4,262	4,794	5,296	5,529	7,492	7,756	8,372	9,448	10,857	11,328	16,004	19,638	18,971	17,100
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,915	3,013	3,447	3,731	3,842	5,587	5,304	5,725	6,391	7,024	7,147	8,111	9,413	10,464	9,782
+ Selling, General & Admin	2,669	2,729	3,106	3,355	3,446	4,896	4,612	4,971	5,504	6,057	6,144	6,930	8,007	8,993	8,445
+ Research & Development	246	284	340	376	396	691	692	754	887	967	1,003	1,181	1,406	1,471	1,337
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	1,110	1,248	1,347	1,564	1,687	1,905	2,452	2,647	3,057	3,833	4,181	7,893	10,225	8,507	7,318
- Non-Operating (Income) Loss	183	161	214	295	368	-182	516	623	628	571	109	663	1,384	672	1,020
+ Interest Expense, Net	102	72	148	216	234	432	384	421	511	530	452	488	493	454	496
+ Interest Expense	118	85	175	242	262	480	415	469	592	667	676	553	536	726	1,375
- Interest Income	16	12	27	25	28	48	31	48	81	137	224	65	43	272	879
+ Other Non-Op (Income) Loss	81	88	66	78	134	-615	132	202	117	41	-343	175	891	218	524
Pretax Income	927	1,088	1,133	1,269	1,320	2,087	1,936	2,024	2,429	3,262	4,072	7,230	8,841	7,835	6,298
- Income Tax Expense (Benefit)	76	102	109	11	40	192	-44	-1	201	324	374	850	1,109	703	284
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	851	986	1,023	1,258	1,279	1,896	1,980	2,025	2,228	2,938	3,698	6,377	7,728	6,960	5,955
- Net Extraordinary Losses (Gains)	1	-50	-306	80	6	1	5	3	3	- -	4	4	6	20	-80
+ Discontinued Operations	-1	50	306	-80	-6	-1	-5	-3	-3	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	2	-99	-613	161	12	2	10	6	6	- -	4	4	6	20	-80
Income (Loss) Incl. MI	850	1,036	1,330	1,178	1,273	1,894	1,975	2,022	2,225	2,938	3,694	6,373	7,722	6,940	6,035
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	-2	-3	-10	40
Net Income, GAAP	850	1,036	1,330	1,178	1,273	1,894	1,975	2,022	2,225	2,938	3,696	6,375	7,725	6,950	5,995
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	850	1,036	1,330	1,178	1,273	1,894	1,975	2,022	2,225	2,938	3,696	6,375	7,725	6,950	5,995
Basic Weighted Avg Shares	412	403	381	364	360	398	399	395	395	402	400	396	394	392	386
Basic EPS, GAAP	2.06	2.57	3.49	3.24	3.53	4.76	4.95	5.12	5.63	7.31	9.24	16.1	19.61	17.73	15.53
Basic EPS from Cont Ops	2.06	2.45	2.69	3.46	3.55	4.76	4.97	5.13	5.64	7.31	9.24	16.1	19.61	17.76	15.43
Diluted Weighted Avg Shares	423	409	385	367	366	402	402	397	398	406	403	399	397	394	388
Diluted EPS, GAAP	2.01	2.53	3.46	3.21	3.48	4.71	4.91	5.09	5.59	7.24	9.17	15.98	19.46	17.64	15.45
Diluted EPS from Cont Ops	2.01	2.41	2.66	3.43	3.5	4.71	4.93	5.1	5.6	7.24	9.18	15.98	19.47	17.66	15.35
EBITDA	1,897	1,994	2,207	2,548	2,687	3,590	4,140	4,405	5,090	6,100	6,458	10,218	12,817	11,888	10,724
EBITDA Margin (%)	18.76	19.19	19.09	20.37	20.53	21.25	24.4	24.11	24.33	25.04	25.28	31.72	32.69	26.47	25.02
EBITA	1,110	1,248	1,347	1,564	1,687	1,905	2,452	2,647	3,057	3,833	4,181	7,893	10,225	8,507	7,318
EBIT	1,110	1,248	1,347	1,564	1,687	1,905	2,452	2,647	3,057	3,833	4,181	7,893	10,225	8,507	7,318
Gross Margin (%)	39.81	41	41.47	42.33	42.24	44.36	45.72	45.81	45.17	44.57	44.35	49.67	50.08	42.24	39.9
Operating Margin (%)	10.98	12.01	11.66	12.5	12.89	11.28	14.45	14.49	14.61	15.74	16.37	24.5	26.08	18.94	17.08
Profit Margin (%)	8.41	9.96	11.51	9.42	9.73	11.22	11.64	11.06	10.64	12.06	14.47	19.79	19.7	15.47	13.99
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	0.39	0.6	0.59	0.6	0.6	0.6	0.66	0.74	0.85	1	1.16	1.35
Depreciation Expense	787	746	860	984	1,000	1,685	1,688	1,758	2,033	2,267	2,277	2,325	2,592	3,381	3,406

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	4,531	4,135	4,822	4,835	9,881	6,540	5,741	7,021	9,421	10,625	11,893	21,957	20,113	25,229	24,589
+ Cash, Cash Equivalents & STI	1,571	926	1,021	810	5,830	1,352	452	786	1,335	2,103	2,399	10,325	4,477	8,524	8,077
+ Cash & Cash Equivalents	1,564	917	1,016	806	5,826	1,344	452	786	1,335	2,103	2,399	10,325	4,477	8,524	8,077
+ ST Investments	7	9	4	4	4	8	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	1,410	1,474	1,764	1,805	1,942	2,474	2,763	3,427	3,879	4,595	4,952	6,472	8,945	9,427	9,664
+ Accounts Receivable, Net	1,410	1,474	1,764	1,805	1,942	2,474	2,545	3,049	3,879	4,136	4,349	5,741	7,977	8,115	8,221
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	218	378	- -	459	603	731	968	1,312	1,443
+ Inventories	1,131	1,173	1,330	1,443	1,494	1,860	1,992	2,213	2,971	3,005	3,370	4,029	5,051	5,634	5,088
+ Raw Materials	263	309	335	362	347	442	421	466	708	812	971	1,305	1,922	2,405	2,057
+ Work In Process	116	108	129	150	158	208	237	328	505	430	517	540	676	660	705
+ Finished Goods	753	755	866	932	989	1,210	1,334	1,419	1,758	1,763	1,882	2,184	2,453	2,569	2,326
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	419	562	708	777	613	855	534	595	1,236	922	1,172	1,131	1,640	1,644	1,760
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	17,094	17,214	22,012	22,610	21,983	36,312	35,093	38,887	47,248	45,607	46,488	47,095	75,010	71,925	74,137
+ Property, Plant & Equip, Net	1,333	1,360	1,611	1,726	1,767	2,426	2,449	2,578	4,047	4,165	4,749	5,912	8,333	9,280	9,448
+ Property, Plant & Equip	2,072	2,199	2,575	2,852	3,081	3,869	4,114	4,416	6,339	6,820	7,764	9,577	12,593	14,269	15,524
- Accumulated Depreciation	738	839	964	1,126	1,314	1,442	1,665	1,838	2,292	2,655	3,015	3,665	4,260	4,989	6,076
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	15,761	15,854	20,400	20,883	20,215	33,886	32,644	36,309	43,201	41,442	41,739	41,183	66,677	62,645	64,689
+ Total Intangible Assets	15,320	14,909	19,789	20,279	19,575	32,953	31,586	35,297	41,974	40,325	39,728	38,726	62,037	58,638	60,690
+ Goodwill	8,983	8,996	11,973	12,474	12,503	18,843	18,828	21,328	25,290	25,347	25,714	26,041	41,924	41,196	44,020
+ Other Intangible Assets	6,337	5,914	7,816	7,804	7,071	14,110	12,758	13,969	16,684	14,978	14,014	12,685	20,113	17,442	16,670
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	441	945	611	604	641	933	1,058	1,012	1,227	1,117	2,011	2,457	4,640	4,007	3,999
Total Assets	21,625	21,349	26,834	27,445	31,863	42,852	40,834	45,908	56,669	56,232	58,381	69,052	95,123	97,154	98,726
+ Payables & Accruals	1,382	1,141	1,648	1,804	1,939	2,826	2,777	3,125	4,194	4,067	4,605	6,405	8,244	8,830	7,714
+ Accounts Payable	534	547

Thermo Fisher Scientific Inc.

Income Statement

Balance Sheet