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Boston Scientific - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Boston Scientific (ISIN: US1011371077, WKN: 884113) Kursdatum: 21.07.2017 Kurs: 27,620 USD
Beschreibung Daten
Symbol BSX
Marktkapitalisierung 38.038.265.856,00 USD
Land Vereinigte Staaten von Amerika
Indizes S&P 500
Sektor Gesundheitswesen
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2003-11-06 - 2:1 | 1998-12-01 - 2:1 |
Internet
Letztes Bilanz Update 23.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
63,82 39,13 0,00% 1,90 37,21 110,48 4,54 5,65

Firmenbeschreibung

Firmenstrategie

RevenueRecognitionPolicyTextBlock

Revenue Recognition


We generate revenue primarily from the sale of single-use medical devices, and present revenue net of sales taxes in our consolidated statements of operations. We sell our products primarily through a direct sales force. In certain international markets, we sell our products through independent distributors. We consider revenue to be realized or realizable and earned when all of the following criteria are met: persuasive evidence of a sales arrangement exists; delivery has occurred or services have been rendered; the price is fixed or determinable; and collectibility is reasonably assured. Revenue is recognized upon passage of title and risk of loss to customers, unless we are required to provide additional services, and provided we can form an estimate for sales returns. We recognize revenue from consignment arrangements based on product usage, or implant, which indicates that the sale is complete. For revenue arrangements with multiple deliverables, where the sale of a device is combined with a future service obligation, we defer revenue on the undelivered element and recognize this revenue over the related service period. Many of our Cardiac Rhythm Management (CRM) product offerings combine the sale of a device with our LATITUDE® Patient Management System, which represents a future service obligation. Generally, we do not have vendor specific objective evidence of selling price available related to our future service obligations; therefore, we determine our estimates of selling price using third party evidence when available; otherwise, we use our best estimate of selling price. We allocate arrangement consideration using the relative selling price method.


We generally allow our customers to return defective, damaged and, in certain cases, expired products for credit. We base our estimate for sales returns upon historical trends and record the amount as a reduction to revenue when we sell the initial product. In addition, we may allow customers to return previously purchased products for next-generation product offerings. For these transactions, we defer recognition of revenue on the sale of the earlier generation product based upon an estimate of the amount of product to be returned when the next-generation products are shipped to the customer.


We also offer sales rebates and discounts to certain customers. We treat sales rebates and discounts as a reduction of revenue and classify the corresponding liability as current. We estimate rebates for products where there is sufficient historical information available to predict the volume of expected future rebates. If we are unable to estimate the expected rebates reasonably, we record a liability for the maximum rebate percentage offered. We have entered certain agreements with group purchasing organizations to sell our products to participating hospitals at negotiated prices. We recognize revenue from these agreements following the same revenue recognition criteria discussed above.

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SEGMENT REPORTING

We have three reportable segments comprised of: Cardiovascular, Rhythm Management, and MedSurg, which represent an aggregation of our operating segments.

Each of our reportable segments generates revenues from the sale of medical devices. We measure and evaluate our reportable segments based on segment net sales and operating income, excluding the impact of changes in foreign currency and sales from divested businesses. Sales generated from reportable segments and divested businesses, as well as operating results of reportable segments and corporate expenses, are based on internally-derived standard currency exchange rates, which may differ from year to year, and do not include intersegment profits. We exclude from segment operating income certain corporate-related expenses and certain charges or credits that our chief operating decision maker considers to be non-recurring and/or non-operational, such as amounts related to goodwill and other intangible asset impairment charges; acquisition-, divestiture-, restructuring- and litigation-related charges and credits; pension termination charges; and amortization expense. Although we exclude these amounts from segment operating income, they are included in reported consolidated operating income (loss) and are included in the reconciliation below.

A reconciliation of the totals reported for the reportable segments to the applicable line items in our accompanying consolidated statements of operations is as follows:

 
 
Year Ended December 31,
(in millions)
 
2015
 
2014
 
2013
Net sales
 
 
 
 
 
 
Interventional Cardiology
 
$
2,242

 
$
2,092

 
$
1,995

Peripheral Interventions
 
975

 
861

 
805

Cardiovascular
 
3,217

 
2,953

 
2,800

 
 
 
 
 
 
 
Cardiac Rhythm Management
 
1,934

 
1,922

 
1,882

Electrophysiology
 
248

 
228

 
154

Rhythm Management
 
2,182

 
2,150

 
2,036

 
 
 
 
 
 
 
Endoscopy
 
1,422

 
1,343

 
1,277

Urology and Pelvic Health
 
735

 
542

 
505

Neuromodulation
 
512

 
474

 
454

MedSurg
 
2,669

 
2,359

 
2,236

Net sales allocated to reportable segments
 
8,068

 
7,462

 
7,072

Sales generated from business divestitures
 

 
4

 
58

Impact of foreign currency fluctuations
 
(591
)
 
(86
)
 
13

 
 
$
7,477

 
$
7,380

 
$
7,143



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Net Income (Loss) per Common Share


We base net income (loss) per common share upon the weighted-average number of common shares and common stock equivalents outstanding during each year. Potential common stock equivalents are determined using the treasury stock method. We exclude stock options whose effect would be anti-dilutive from the calculation.

 
 
Year Ended December 31,
(in millions)
 
2015
 
2014
 
2013
Depreciation expense
 
 
 
 
 
 
Cardiovascular
 
$
116

 
$
120

 
$
111

Rhythm Management
 
94

 
92

 
99

MedSurg
 
73

 
75

 
73

Depreciation expense allocated to reportable segments
 
283

 
287

 
283

Impact of foreign currency fluctuations