西氏医药服务 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION WEST PHARMACEUTICAL SERVICES, INC. Securities registered pursuant to Section 12(b) of the Act: Title of each classCommon Stock, par value $0.25 per share Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). As of April21, 2025, there were71,845,364shares of the registrant’s common stock outstanding. TABLE OF CONTENTS PART I. FINANCIAL INFORMATION ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)Condensed Consolidated Statements of Income for the ThreeMonths endedMarch 31, 2025 and 20243Condensed Consolidated Statements of Comprehensive Income for the ThreeMonths endedMarch 31, 2025 and 20244Condensed Consolidated Balance Sheets atMarch 31, 2025and December 31,20245Condensed Consolidated Statements of Cash Flows for theThreeMonths endedMarch 31, 2025and 20246Notes to Condensed Consolidated Financial Statements7ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS26ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK36ITEM 4.CONTROLS AND PROCEDURES36 PART II. OTHER INFORMATION ITEM 1.LEGAL PROCEEDINGS37ITEM 1A.RISK FACTORS37ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OFPROCEEDS37ITEM 5.OTHER INFORMATION37ITEM 6.EXHIBITS38 SIGNATURE PART I. FINANCIAL INFORMATION ITEM 1.FINANCIAL STATEMENTS CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)West Pharmaceutical Services, Inc. and Subsidiaries(in millions, except per share data) West Pharmaceutical Services, Inc. and Subsidiaries(in millions) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1:Basis of Presentation Basis of Presentation: The condensed consolidated financial statements included in this report are unaudited and have been preparedin 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. The Note 2:New Accounting Standards Recently Adopted Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU") No. 2023-07,Segment Reporting, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanceddisclosures about significant segment expenses and enhancement of interim disclosure requirements. This guidance is effective for Standards Issued Not Yet Adopted In December 2023, the FASB issued guidance that seeks to enhance income tax disclosures to provide information to better assess howan entity's operations and related tax risks affect its tax rate and prospects for future cash flows. Within the income tax ratereconciliation, the amendment requires disclosure of additional categories and greater detail about individual reconciling items over aspecified threshold. It also requires information pertaining to taxes paid to be disaggregated for federal, state, and foreign taxes andfurther disaggregated for specific jurisdictions over a specified threshold. This guidance is effective for fiscal years beginning after In November 2024, the FASB issued guidance that seeks to improve the disclosures about a public business entity’s expenses andaddress requests from investors for more detailed