This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Merck Announces Full-Year And Fourth-Quarter 2012 Financial Results

Fourth-Quarter and Full-Year Expense and Other Information

The costs detailed below totaled $10.0 billion on a GAAP basis during the fourth quarter of 2012 and include $1.6 billion of acquisition-related costs and restructuring costs.

   
$ in millions Included in expenses for the period
Fourth Quarter 2012  

 

GAAP

 

Acquisition- Related Costs 4

 

Restructuring Costs

 

Certain Other Items

 

 

Non-GAAP 1

Materials and production   $4,160   $1,185   $40     $2,935
Marketing and administrative   3,390   89   20     3,281
Research and development   2,224   24   3     2,197
Restructuring costs   191     191    
 
Fourth Quarter 2011                    
Materials and production   $4,176   $1,212   $68   $7   $2,889
Marketing and administrative   3,704   86   42     3,576
Research and development   2,419   244   49     2,126
Restructuring costs   533     533    

The costs detailed below totaled $38.1 billion on a GAAP basis for full-year 2012 and include $6.3 billion of acquisition-related costs and restructuring costs.

   
$ in millions Included in expenses for the period

Year Ended Dec. 31, 2012

 

 

GAAP

 

Acquisition- Related Costs 4

 

Restructuring Costs

 

Certain Other Items

 

 

Non-GAAP 1

Materials and production   $16,446   $4,872   $188     $11,386
Marketing and administrative   12,776   272   90     12,414
Research and development   8,168   200   57     7,911
Restructuring costs   664     664    
 

Year Ended Dec. 31, 2011

                   
Materials and production   $16,871   $5,137   $348   $7   $11,379
Marketing and administrative   13,733   278   119     13,336
Research and development   8,467   587   138     7,742
Restructuring costs   1,306     1,306    

The gross margin was 64.6 percent for the fourth quarter of 2012 and 66.0 percent for the fourth quarter of 2011, reflecting 10.4 and 10.5 percentage point unfavorable impacts, respectively, from the acquisition-related costs and restructuring costs noted above. The non-GAAP gross margin decline primarily reflects the impact of the SINGULAIR patent expiry in the United States.

7 of 12

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,283.28 +17.29 0.10%
S&P 500 2,010.80 -0.56 -0.03%
NASDAQ 4,575.72 -17.7050 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs