8-KOther EventsExhibits & Filings

THERMO FISHER SCIENTIFIC INC. 8-K Report, Corporate Update (May 5, 2017)

Filed May 5, 2017For Securities:TMO

Summary

This 8-K filing from Thermo Fisher Scientific (TMO) on May 5, 2017, primarily addresses non-operational updates related to internal segment reclassifications and the adoption of new accounting guidance. The company has realigned several product lines between its Life Sciences Solutions and Laboratory Products and Services segments to better align with strategic focus. These changes, effective January 2017, have been retrospectively applied to prior periods to ensure consistent reporting. Importantly, these segment reclassifications and the adoption of new accounting standards for cash flows had no impact on the company's historical reported net income or earnings per share. This filing also serves to update prior disclosures in the 2016 Form 10-K to reflect these changes, but it does not contain new financial data beyond what was presented in the company's first quarter 2017 10-Q filing. Investors should note the forward-looking statements and associated risks outlined in the report, which are further detailed in the company's recent 10-Q.

Key Highlights

  • 1Thermo Fisher Scientific has reclassified product lines between its Life Sciences Solutions and Laboratory Products and Services segments for strategic alignment, effective January 2017.
  • 2Prior period segment information has been reclassified to reflect these operational changes.
  • 3The company adopted new accounting guidance on January 1, 2017, which was applied retrospectively to the statement of cash flows.
  • 4These segment reclassifications and accounting changes had no impact on historical reported net income or earnings per share.
  • 5The filing updates the company's 2016 Form 10-K to reflect these segment and cash flow reclassifications.
  • 6The report includes forward-looking statements with associated risks and uncertainties, as detailed in the Q1 2017 10-Q.
  • 7Exhibit 99.1 contains updated financial statement information for the 2016 Form 10-K, incorporating the segment and cash flow reclassifications.

Frequently Asked Questions

The main changes involve internal reclassifications of product lines between the Life Sciences Solutions and Laboratory Products and Services segments for better strategic alignment, and the adoption of new accounting guidance impacting the statement of cash flows. These changes were effective January 1, 2017, and prior periods were reclassified accordingly.

No, the company explicitly states that these segment reclassifications and the adoption of new accounting guidance had no effect on the company's historical reported net income or earnings per share.

This filing primarily addresses structural and accounting adjustments. While it updates prior filings to reflect these changes, the actual financial results for the first quarter of 2017 were presented in the company's Form 10-Q filed on the same date, May 5, 2017. This 8-K ensures consistency by reclassifying historical data.

Investors should be aware that the report contains forward-looking statements and should consult the "Risk Factors" section in Thermo Fisher's Q1 2017 10-Q for details on potential risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. These risks include product development, economic conditions, government regulations, and acquisition integration.