Covetrus, Inc. (CVET) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
7 CUSTOM HOUSE STREET PORTLAND, ME 04101 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 5912 - Drug Stores and Proprietary Stores (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)Annual | Quarterly
| 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 117 | 183 | 187 | 230 | 211 | 290 | |||
| Cash and cash equivalents | 117 | 183 | 187 | 230 | 211 | 290 | |||
| Receivables | 627 | 555 | 568 | 596 | 605 | 574 | |||
| Inventory, net of allowances, customer advances and progress billings | 630 | 583 | 552 | 557 | 555 | 530 | |||
| Inventory | 630 | 583 | 552 | 557 | 555 | 530 | |||
| Other undisclosed current assets | 43 | 30 | 44 | 36 | 51 | 37 | |||
| Total current assets: | 1,417 | 1,351 | 1,351 | 1,419 | 1,422 | 1,431 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1 | ||||||||
| Operating lease, right-of-use asset | 138 | 137 | 120 | 107 | 111 | 117 | |||
| Property, plant and equipment | 147 | 144 | 127 | 122 | 118 | 116 | |||
| Intangible assets, net (including goodwill) | 1,681 | 1,686 | 1,726 | 1,671 | 1,703 | 1,742 | |||
| Goodwill | 1,267 | 1,247 | 1,247 | 1,187 | 1,187 | 1,187 | |||
| Intangible assets, net (excluding goodwill) | 414 | 439 | 479 | 484 | 516 | 555 | |||
| Other noncurrent assets | 39 | 43 | |||||||
| Other undisclosed noncurrent assets | 48 | 49 | 96 | 95 | 86 | 89 | |||
| Total noncurrent assets: | 2,053 | 2,059 | 2,069 | 1,995 | 2,018 | 2,065 | |||
| TOTAL ASSETS: | 3,470 | 3,410 | 3,420 | 3,414 | 3,440 | 3,496 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 578 | 529 | 527 | 525 | 502 | 509 | |||
| Taxes payable | 19 | 24 | 37 | 43 | 29 | 37 | |||
| Employee-related liabilities | 52 | 63 | 62 | 55 | 57 | 67 | |||
| Accounts payable | 507 | 442 | 428 | 427 | 416 | 405 | |||
| Accrued liabilities | |||||||||
| Debt | 52 | 46 | 31 | 17 | 1 | ||||
| Other liabilities | 132 | 137 | 141 | 153 | 163 | 181 | |||
| Other undisclosed current liabilities | 32 | ||||||||
| Total current liabilities: | 762 | 698 | 714 | 709 | 682 | 691 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 995 | 1,014 | 1,027 | 1,040 | 1,054 | 1,068 | |||
| Long-term debt, excluding current maturities | 995 | 1,014 | 1,027 | 1,040 | 1,054 | 1,068 | |||
| Liabilities, other than long-term debt | 163 | 164 | 154 | 140 | 148 | 164 | |||
| Deferred income tax liabilities | 12 | 13 | 18 | 16 | 23 | 28 | |||
| Other liabilities | 151 | 151 | 136 | 124 | 125 | 136 | |||
| Total noncurrent liabilities: | 1,158 | 1,178 | 1,181 | 1,180 | 1,202 | 1,232 | |||
| Total liabilities: | 1,920 | 1,876 | 1,895 | 1,889 | 1,884 | 1,923 | |||
| Temporary equity, carrying amount | 22 | 23 | 23 | 23 | 36 | 36 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,528 | 1,511 | 1,502 | 1,502 | 1,520 | 1,537 | |||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | |||
| Additional paid in capital | 2,691 | 2,670 | 2,659 | 2,641 | 2,637 | 2,629 | |||
| Accumulated other comprehensive loss | (81) | (79) | (80) | (66) | (75) | (66) | |||
| Accumulated deficit | (1,083) | (1,081) | (1,078) | (1,074) | (1,043) | (1,027) | |||
| Total equity: | 1,528 | 1,511 | 1,502 | 1,502 | 1,520 | 1,537 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,470 | 3,410 | 3,420 | 3,414 | 3,440 | 3,496 | |||
Income Statement (P&L) ($ in millions)Annual | Quarterly
| 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,148 | 1,122 | 1,162 | 1,189 | 1,102 | 1,122 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (923) | (910) | (946) | (969) | (892) | (916) | ||
| Gross profit: | 225 | 212 | 216 | 220 | 210 | 206 | ||
| Operating expenses | (219) | (219) | (220) | (229) | (213) | (225) | ||
| Operating income (loss): | 6 | (7) | (4) | (9) | (3) | (19) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 2 | 3 | (2) | 12 | ||||
| Interest and debt expense | (9) | (9) | (9) | |||||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (32) | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 8 | (36) | (6) | (18) | (12) | (16) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (7) | 26 | (8) | |||||
| Income (loss) from continuing operations before income taxes: | 1 | (10) | (14) | (18) | (12) | (16) | ||
| Income tax expense (benefit) | (3) | 9 | 10 | (13) | (4) | 13 | ||
| Loss from continuing operations: | (2) | (1) | (4) | (31) | (16) | (3) | ||
| Loss before gain (loss) on sale of properties: | (2) | (1) | (4) | (31) | (16) | (3) | ||
| Other undisclosed net loss | (2) | |||||||
| Net loss: | (2) | (3) | (4) | (31) | (16) | (3) | ||
| Net loss attributable to noncontrolling interest | (1) | |||||||
| Net loss attributable to parent: | (2) | (3) | (4) | (31) | (16) | (4) | ||
| Other undisclosed net loss available to common stockholders, basic | (1) | |||||||
| Net loss available to common stockholders, diluted: | (2) | (3) | (4) | (31) | (16) | (5) | ||
Comprehensive Income ($ in millions)Annual | Quarterly
| 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (2) | (3) | (4) | (31) | (16) | (3) | ||
| Other comprehensive income (loss) | (2) | 1 | (14) | 9 | (9) | 30 | ||
| Comprehensive income (loss): | (4) | (2) | (18) | (22) | (25) | 27 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 1 | (1) | (1) | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (4) | (2) | (18) | (21) | (26) | 26 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.