西氏医药服务 2025年季度报告

Non-accelerated filer☐Smaller reporting companyEmerging growth company complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ TABLE OF CONTENTSPagePART I. FINANCIAL INFORMATION FINANCIAL STATEMENTS (UNAUDITED)Condensed Consolidated Statements of Income for the ThreeMonths endedMarch 31, 2025 and 2024 Proceeds from stock-based compensation awardsEmployee stock purchase plan contributions Shares purchased under share repurchase programs Shares repurchased for employee tax withholdingsNet cash used in financing activities Effect of exchange rates on cash8.5Net decrease in cash and cash equivalents(80.4)Cash, including cash equivalents at beginning of period484.6Cash, including cash equivalents at end of period$404.2$Supplemental cash flow information:Accrued capital expenditures$37.5$ NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Basis of Presentation: The condensed consolidated financial statements included in this report are unaudited and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting andU.S. Securities and Exchange Commission (“SEC”) regulations. The year-end condensed consolidated balance sheet data was derivedfrom audited financial statements, but does not include all disclosures required by U.S. GAAP. Certain information and footnotedisclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted.In the opinion of management, these financial statements include all adjustments, which are of a normal recurring nature, necessary fora fair statement of the financial position, results of operations, cash flows and the change in equity for the periods presented. Thecondensed consolidated financial statements for the three months ended March31, 2025, should be read in conjunction with the results for the full year.Note 2:New Accounting StandardsRecently Adopted StandardsIn November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU") No. 2023-07, an entity's operations and related tax risks affect its tax rate and prospects for future cash flows. Within the income tax rate further disaggregated for specific jurisdictions over a specified threshold. This guidance is effective for fiscal years beginning afterDecember 15, 2024. We are currently evaluating the impact of this guidance on our financial statements and disclosures, but we do notexpect the adoption to have a material impact on the consolidated financial statements other than the expanded footnote disclosure. depreciation, and intangible asset amortization included in each of the Company's relevant expense captions; (2) include certainamounts that are already required to be disclosed under current GAAP in the same disclosure as the other disaggregation requirements; Change in deferred income - decrease (increase)$ term liabilities. During the three months ended March31, 2025, $18.3million of revenue was recognized that was included in deferredincome at the beginning of the year. As of March31, 2025, performance obligations expected to be satisfied beyond one-year were $3.1million. The remaining$44.7million of performance obligations are expected to be satisfied withinone yearor less. In February 2023, the Board of Directors approved a share repurchase program under which the Company was able repurchase up to$1.0billion in shares of common stock. This program was completed during January 2025. The below table summarizes the details of the Company's repurchases of common stock under these programs:Three Months EndedMarch 31, Maturities of the Company's lease liabilities as of March31, 2025 were as follows: Total lease liabilities Note 7:Affiliated Companies The following table summarizes the aggregate carrying amounts of our investments in affiliated companies that are accounted forunder the equity method and our investments in affiliated companies that are not accounted for under the equity method: We have elected to record non-equity method investments, for which fair value was not readily determinable, at cost, less impairment,adjusted for subsequent observable price changes. We test these investments for impairment whenever circumstances indicate that the The following table summarizes the amounts due to and from affiliates in the condensed consolidated balance sheets: March 31,December 31,($ in millions)2025Payables due to affiliates$25.6$ Note 8:Debt The following table summarizes our long-term debt obligations, net of unamortized debt issuance costs and current maturities. Theinterest rates shown in parentheses are as of March31, 2025. Term Loan, due July 2, 2027 (5.65%) 203.0Less: unamortized debt issuance costs for Term Loan and Series Notes0.4 Long-term debt, net Term Loan Please refer to Note 9,Derivative Financial Instr