10-Q Filing

ELANCO ANIMAL HEALTH INC CIK: 1739104 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001739104-19-000010`
Period End Date	20190331
Filing Date	20190514
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	elan-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 32 Cash Flow Statement 48 Stockholders Equity 15 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.30M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.40M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$878.60M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$909.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$263.40M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$272.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$474.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	365.64M	shares	Point-in-time
Accounts receivable, net of allowances of $8.3 (2019) and $8.4 (2018)	`AccountsReceivableNetCurrent`	$651.80M	USD	Point-in-time
Accounts receivable, net of allowances of $8.3 (2019) and $8.4 (2018)	`AccountsReceivableNetCurrent`	$684.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	365.70M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	365.70M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	365.64M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$57.60M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$107.80M	USD	Point-in-time
Inventories (Note 7)	`InventoryNet`	$1.00B	USD	Point-in-time
Inventories (Note 7)	`InventoryNet`	$1.04B	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$113.90M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$114.80M	USD	Point-in-time
Receivable from Lilly (Note 15)	`DueFromRelatedPartiesCurrent`	$35.50M	USD	Point-in-time
Receivable from Lilly (Note 15)	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Restricted cash (Note 15)	`RestrictedCashCurrent`	$28.50M	USD	Point-in-time
Restricted cash (Note 15)	`RestrictedCashCurrent`	-	USD	Point-in-time
Restricted cash (Note 15)	`RestrictedCashCurrent`	$202.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.28B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.50B	USD	Point-in-time
Goodwill	`Goodwill`	$2.96B	USD	Point-in-time
Goodwill	`Goodwill`	$2.93B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.39B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.45B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$219.30M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$118.40M	USD	Point-in-time
Property and equipment, net of accumulated depreciation $909.3 (2019) and $878.6 (2018)	`PropertyPlantAndEquipmentNet`	$922.40M	USD	Point-in-time
Property and equipment, net of accumulated depreciation $909.3 (2019) and $878.6 (2018)	`PropertyPlantAndEquipmentNet`	$930.20M	USD	Point-in-time
Total assets	`Assets`	$8.96B	USD	Point-in-time
Total assets	`Assets`	$8.75B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$205.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$252.10M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$98.90M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$64.20M	USD	Point-in-time
Sales rebates and discounts	`ContractWithCustomerLiabilityCurrent`	$171.70M	USD	Point-in-time
Sales rebates and discounts	`ContractWithCustomerLiabilityCurrent`	$169.90M	USD	Point-in-time
Current portion of long-term debt (Note 8)	`LongTermDebtCurrent`	$29.00M	USD	Point-in-time
Current portion of long-term debt (Note 8)	`LongTermDebtCurrent`	$29.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$199.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$191.20M	USD	Point-in-time
Payable to Lilly (Note 15)	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Payable to Lilly (Note 15)	`DueToRelatedPartiesNoncurrent`	$268.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$970.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$708.20M	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	$2.44B	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	$2.44B	USD	Point-in-time
Accrued retirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$109.10M	USD	Point-in-time
Accrued retirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$106.20M	USD	Point-in-time
Deferred taxes (Note 11)	`DeferredIncomeTaxLiabilitiesNet`	$114.60M	USD	Point-in-time
Deferred taxes (Note 11)	`DeferredIncomeTaxLiabilitiesNet`	$131.80M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$168.40M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$121.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.55B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.76B	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, no par value, 5,000,000,000 shares authorized, 365,702,757 and 365,643,911 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value, 5,000,000,000 shares authorized, 365,702,757 and 365,643,911 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.40B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.40B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-250.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-222.20M	USD	Point-in-time
Total equity	`StockholdersEquity`	$7.78B	USD	Point-in-time
Total equity	`StockholdersEquity`	$5.20B	USD	Point-in-time
Total equity	`StockholdersEquity`	$5.20B	USD	Point-in-time
Total equity	`StockholdersEquity`	$7.90B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$8.96B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$8.75B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$731.10M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$736.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$343.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$360.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$64.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$65.20M	USD	1 Quarter
Marketing, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$181.10M	USD	1 Quarter
Marketing, selling and administrative	`SellingGeneralAndAdministrativeExpense`	$180.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$49.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$49.20M	USD	1 Quarter
Asset impairments, restructuring and other special charges (Note 6)	`RestructuringSettlementAndImpairmentProvisions`	$2.40M	USD	1 Quarter
Asset impairments, restructuring and other special charges (Note 6)	`RestructuringSettlementAndImpairmentProvisions`	$24.90M	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	-	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	$20.80M	USD	1 Quarter
Othernet, expense	`NonoperatingIncomeExpense`	$-2.60M	USD	1 Quarter
Othernet, expense	`NonoperatingIncomeExpense`	$-1.90M	USD	1 Quarter
Costs, expenses and other	`CostsAndExpenses`	$658.70M	USD	1 Quarter
Costs, expenses and other	`CostsAndExpenses`	$686.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$77.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$13.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$72.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.50M	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	365.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	293.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	293.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	366.00M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$72.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$83.10M	USD	1 Quarter
Change in deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.40M	USD	1 Quarter
Change in deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$16.30M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$7.70M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.90M	USD	1 Quarter
Asset impairment charges	`AssetImpairmentChargesIncludingInventoryWriteDown`	-	USD	1 Quarter
Asset impairment charges	`AssetImpairmentChargesIncludingInventoryWriteDown`	$4.00M	USD	1 Quarter
Other changes in operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$105.90M	USD	1 Quarter
Other changes in operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$127.60M	USD	1 Quarter
Other non-cash operating activities, net	`OtherOperatingActivitiesCashFlowStatement`	$1.40M	USD	1 Quarter
Other non-cash operating activities, net	`OtherOperatingActivitiesCashFlowStatement`	$-9.40M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$47.00M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$5.60M	USD	1 Quarter
Net purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.00M	USD	1 Quarter
Net purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.70M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$500.00K	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$1.70M	USD	1 Quarter
Net Cash Used for Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.50M	USD	1 Quarter
Net Cash Used for Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.40M	USD	1 Quarter
Repayments of borrowings (Note 8)	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Repayments of borrowings (Note 8)	`RepaymentsOfLongTermLinesOfCredit`	$7.50M	USD	1 Quarter
Consideration paid to Lilly in connection with the Separation (Note 1)	`PaymentsOfSeparationRelatedCostsFinancingActivities`	-	USD	1 Quarter
Consideration paid to Lilly in connection with the Separation (Note 1)	`PaymentsOfSeparationRelatedCostsFinancingActivities`	$175.10M	USD	1 Quarter
Other net financing transactions with Lilly	`ProceedsFromPaymentsToTransactionsWithParent`	$-156.40M	USD	1 Quarter
Other net financing transactions with Lilly	`ProceedsFromPaymentsToTransactionsWithParent`	$-76.10M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-400.00K	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-500.00K	USD	1 Quarter
Net Cash Used for Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-76.50M	USD	1 Quarter
Net Cash Used for Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-339.50M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-14.50M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.90M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-376.90M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-60.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$677.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$323.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$263.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$300.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$677.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$323.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$263.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$300.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$677.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$323.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$263.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$300.60M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$7.78B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$5.20B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$5.20B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$7.90B	USD	Point-in-time
Net income	`NetIncomeLoss`	$72.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.50M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-28.20M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$118.60M	USD	1 Quarter
Transfers (to)/from Lilly, net	`StockholdersEquityTransfersToFromParent`	$-69.20M	USD	1 Quarter
Net capital contributions from/(distributions to) Lilly	`StockholdersEquityCapitalDistributionsContributionsFromParent`	$7.00M	USD	1 Quarter
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.40M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$7.78B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$5.20B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$5.20B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$7.90B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$72.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.50M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-30.20M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$119.20M	USD	1 Quarter
Defined benefit pension and retiree health benefit plans, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.00M	USD	1 Quarter
Defined benefit pension and retiree health benefit plans, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$600.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-28.20M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$118.60M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.30M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$191.30M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.