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美国
证券交易委员会
华盛顿特区20549
______________________________________________________
表格 10-Q
_________________________________________________________
（标记一）
☒根据1934年证券交易所法第13或第15(d)款的规定，递交季度报告。
截至季度结束日期的财务报告2024年9月30日
或者
☐根据1934年证券交易协定第13或15（d）节的过渡报告
过渡期从 到 。
委员会备案号码：001-35907
_________________________________________________________
IQVIA控股有限公司
gzggrtpp0rrl000001.jpg
(根据其章程规定的注册人准确名称)
_________________________________________________________
特拉华州27-1341991
（国家或其他管辖区的
公司成立或组织）		（IRS雇主
（标识号码）
Ellis路2400号, 达勒姆, 北卡罗来纳州 27703
(总部主要办公地址和邮政编码)
(919) 998-2000
(注册人电话号码，包括区号)
_________________________________________________________
请用复选标记指示：（1）在过去12个月内（或公司被要求提交这些报告的更短期间），公司已按照1934年证券交易法第13或15（d）条的规定提交了所有必须提交的报告；（2）公司在过去90天内一直受到这些报告规定的约束。是 x无¨
请勾选以下内容。申报人是否已在过去12个月内（或申报人需要提交此类文件的时间较短的期间内）逐个以电子方式提交了根据规则405提交的互动数据文件。这章的交易中规定。    是 x无¨
请勾选标记以说明注册人是大型快速申报人、加速申报人、非加速申报人、较小的报告公司还是新兴成长型公司。请查看《交易所法》第120亿.2条中“大型快速申报人”、“加速申报人”、“较小的报告公司”和“新兴成长型公司”的定义。
大型加速报告人
x
加速文件提交人
☐
非加速文件提交人
☐
较小的报告公司
☐
新兴成长公司
☐
如果是新兴成长型公司，请通过勾选表示公司选择放弃使用依据《证券交易法》第13(a)节规定提供的任何新的或修改后的财务会计准则的延长过渡期来符合该规定的计划。¨
通过勾选表示是否在《交易所法》规则12b-2条所定义的空壳公司。 是☐无x
在法案第12(b)条的规定下注册的证券：
每种类别的证券
交易代码
每个交易所的名称
普通股，每股面值0.01美元
IQV
请使用moomoo账号登录查看New York Stock Exchange
请指示每一类普通股的最新实际日期流通股数。
班级
流通股本数
普通股票，每张面值0.01美元
181.5 截至2024年10月24日，流通股数量为百万股

目录
IQVIA控股有限公司
10-Q表格
目录
项目5。

2
目录
第一部分——财务信息
项目1.基本报表
爱可视控股公司及其子公司
简明合并利润表
(未经审计)
截至9月30日的三个月截至9月30日的九个月
（单位：百万美元，除每股数据外）2024202320242023
收入$3,896 $3,736 $11,447 $11,116 
营业成本，不包括折旧和摊销2,518 2,426 7,450 7,267 
销售，总务及管理费用522 502 1,539 1,497 
折旧和摊销278 297 811 809 
重组成本28 30 71 67 
营业利润550 481 1,576 1,476 
利息收入(13)(14)(36)(24)
利息支出170 181 499 491 
% and 44 (35)(12)(77)
税前收入和对非合并联营公司盈利的权益349 349 1,125 1,086 
所得税支出65 51 189 203 
对非合并联营公司盈利前的收入284 298 936 883 
合营企业及联营企业的权益持有份额收益1 5 — 6 
净收入$285 $303 $936 $889 
每股普通股盈利
基本$1.57 $1.66 $5.14 $4.82 
稀释的$1.55 $1.63 $5.08 $4.76 
加权平均流通股数:
基本182.1 182.9 182.1 184.4 
稀释的184.2 185.5 184.3 186.9 
随附说明是这些简明合并财务报表的一部分。
3
目录
爱可唯控股公司及其子公司
综合收益简明合并报表
(未经审计)
截至9月30日的三个月截至9月30日的九个月
（单位百万）2024202320242023
净收入$285 $303 $936 $889 
综合收益调整：
衍生工具未实现损失（收益），扣除所得税（效益）费用$(14),$—,$2,$11
(41)2 8 34 
定义利益计划调整，扣除所得税费用$—, $—,$—,$—
(1)— (1)1 
外币翻译，扣除所得税（效益）费用$(37),$44,$13,$12
173 (136)62 (170)
重新分类调整:
作为净利润中包括的衍生工具再分类，净税后收入调整为$(3),$(3),$(10),$(14)
(8)(9)(28)(41)
综合收益$408 $160 $977 $713 
随附说明是这些简明合并财务报表的一部分。
4
目录
爱可视控股公司及其子公司
简明合并资产负债表
(未经审计)
（单位：百万美元，除每股数据外）2024年9月30日2023年12月31日
资产
流动资产：
现金及现金等价物$1,572 $1,376 
交易应收账款和未开票服务净额3,196 3,381 
预付费用195 141 
应收所得税款项54 32 
债务、股权和其他证券的投资140 120 
其他流动资产和应收款项475 546 
总流动资产5,632 5,596 
资产和设备，净值513 523 
经营租赁权使用资产259 296 
债务、股权和其他证券的投资117 105 
非控股联营企业投资203 134 
商誉15,091 14,567 
其他可识别无形资产净值4,734 4,839 
延迟所得税164 166 
存款和其他资产净额467 455 
总资产$27,180 $26,681 
负债和股东权益
流动负债:
应付账款及应计费用$3,434 $3,564 
未赚收入1,824 1,799 
应付所得税161 116 
开多次数1,219 718 
其他流动负债354 294 
流动负债合计6,992 6,491 
长期债务，减去当期部分12,293 12,955 
延迟所得税128 202 
经营租赁负债188 223 
其他负债612 698 
负债合计20,213 20,569 
承诺和不确定事项（注8）
股东权益:
普通股和额外资本公积金， 400.0 2024年9月30日和2023年12月31日授权股份数量，$0.01每股面值，258.1股份发行量为181.6 2024年9月30日的股份总数； 257.2股份发行量为181.5 2023年12月31日的股份总数
11,106 11,028 
保留盈余5,628 4,692 
截至2024年3月31日和2023年12月31日，公司的库藏股票分别有2,279,784股和2,693,653股。76.5和页面。75.7 截至2024年9月30日和2023年12月31日，股份分别为
(8,941)(8,741)
累计其他综合损失(826)(867)
股东权益总额6,967 6,112 
负债和股东权益总额$27,180 $26,681 
随附说明是这些简明合并财务报表的一部分。
5
目录
爱可唯控股公司及其子公司
现金流量表简明综合报表
(未经审计)
截至9月30日的九个月
（单位百万）20242023
经营活动：
净收入$936 $889 
调整净收益以使其与经营活动提供的现金流量相一致：
折旧和摊销811 809 
债务发行成本和折扣摊销16 13 
以股票为基础的报酬计划158 172 
未合并附属公司收益— (6)
投资损益净额(29)(5)
递延所得税收益(114)(117)
经营性资产和负债变动:
应收账款、未结账服务和未赚收入的变动259 (241)
其他营运资产和负债的变动(206)(112)
经营活动产生的现金流量净额1,831 1,402 
投资活动：
收购房地产、设备和软件(438)(470)
收购企业，扣除现金净额(649)(869)
可交易证券的购买金额净额— (4)
投资于非合并联营企业，净收款额(68)(16)
投资于债务和股本证券(2)(36)
售出固定资产、设备及软件的所得款25 — 
其他(2)4 
投资活动产生的净现金流出(1,134)(1,391)
筹资活动：
发行债务所得款项— 1,250 
支付债务发行成本— (19)
偿还债务以及融资租赁本金支付(130)(118)
可转借款项收益685 2,009 
偿还循环授信额度(785)(2,184)
与员工股票激励计划相关的支付(61)(58)
回购普通股(200)(763)
待定对价及延期支付购买价格(12)(79)
筹资活动的净现金流量(使用)/提供的净现金流量(503)38 
货币兑换对现金的影响2 (41)
现金及现金等价物增加196 8 
期初现金及现金等价物余额1,376 1,216 
期末现金及现金等价物$1,572 $1,224 
随附附注是这些简明综合财务报表的重要组成部分。
6
目录
iqvia holdings inc.及其附属公司
股东权益简明合并财务报表
(未经审核)
(以百万为单位)普通股股份库藏股份普通股资本公积金保留收益库藏股累积其他综合损益总计
2023年12月31日结余257.2 (75.7)$3 $11,025 $4,692 $(8,741)$(867)$6,112 
普通股的发行0.7 — — (61)— — — (61)
基于股票的薪酬— — — 49 — — — 49 
净利润— — — — 288 — — 288 
衍生工具的未实现收益，扣除税项— — — — — — 34 34 
外币翻译，税后净额— — — — — — (69)(69)
重分类调整，扣除税项— — — — — — (9)(9)
2024年3月31日结存257.9 (75.7)3 11,013 4,980 (8,741)(911)6,344 
普通股的发行0.1 — — 1 — — — 1 
基于股票的薪酬— — — 44 — — — 44 
净利润— — — — 363 — — 363 
衍生工具未实现收益，扣除税项后的净额— — — — — — 15 15 
外币翻译，税后净额— — — — — — (42)(42)
重分类调整，扣除税项后的净额— — — — — — (11)(11)
2024年6月30日资产负债表258.0 (75.7)3 11,058 5,343 (8,741)(949)6,714 
普通股的发行0.1 — — (1)— — — (1)
回购普通股，扣税后的净利润— (0.8)— — — (200)— (200)
基于股票的薪酬— — — 46 — — — 46 
净利润— — — — 285 — — 285 
衍生金融工具的未实现损失，扣税后的净利润— — — — — — (41)(41)
确定福利计划的调整，扣税后的净利润— — — — — — (1)(1)
外币翻译，税后净额— — — — — — 173 173 
重分类调整，扣税后的净利润— — — — — — (8)(8)
2024年9月30日余额258.1 (76.5)$3 $11,103 $5,628 $(8,941)$(826)$6,967 
随附附注是这些简明综合财务报表的重要组成部分。

7
目录
iqvia holdings inc及其子公司
股东权益简明合并财务报表
(未经审核)
(以百万为单位)普通股股份库藏股份普通股资本公积金保留收益库藏股累积其他综合损益总计
2022年12月31日的结存256.4 (70.7)$3 $10,895 $3,334 $(7,740)$(727)$5,765 
普通股的发行0.5 — — (58)— — — (58)
回购普通股— (0.7)— — — (129)— (129)
基于股票的薪酬— — — 69 — — — 69 
净利润— — — — 289 — — 289 
衍生工具之未实现利润，扣税后— — — — — — 10 10 
定期给付计划调整，扣税后— — — — — — 1 1 
外币翻译，税后净额— — — — — — 10 10 
重新分类调整，净税额— — — — — — (25)(25)
2023年3月31日结余256.9 (71.4)3 10,906 3,623 (7,869)(731)5,932 
普通股的发行0.1 — — — — — — — 
回购普通股，净税额— (2.5)— — — (495)— (495)
基于股票的薪酬— — — 43 — — — 43 
净利润— — — — 297 — — 297 
衍生工具未实现盈利，净税额— — — — — — 22 22 
外币翻译，税后净额— — — — — — (44)(44)
税后重分类调整— — — — — — (7)(7)
2023年6月30日结余257.0 (73.9)3 10,949 3,920 (8,364)(760)5,748 
普通股的发行0.1 — — — — — — — 
购回普通股，税后— (0.7)— — — (145)— (145)
基于股票的薪酬— — — 42 — — — 42 
净利润— — — — 303 — — 303 
衍生工具未实现收益，税后— — — — — — 2 2 
外币翻译，税后净额— — — — — — (136)(136)
再分类调整，净利润税后— — — — — — (9)(9)
2023年9月30日的余额257.1 (74.6)$3 $10,991 $4,223 $(8,509)$(903)$5,805 
随附附注是这些简明综合财务报表的重要组成部分。
8
目录
iqvia holdings inc. 及其子公司
附注至简明综合财务报表
(未经审核)
1. 重要会计政策摘要
这家公司
iqvia holdings inc.（连同其子公司，以下简称“公司”或“IQVIA”）是全球领先的临床研究服务、商业洞察及医疗保健资讯提供商，服务于生命科学及医疗保健行业。大约有 88,000 名员工，该公司在超过 100 个国家进行业务。
未经审计的中期财务资讯
公司附带的未经审计的简明合并 基本报表 已根据美国普遍接受的会计原则（“GAAP”）针对中期财务信息编制。因此，它们不包括 GAAP 对完整 基本报表 所需的所有信息和附注。管理层认为，所有被认为对于公正陈述公司财务状况和经营成果所需的调整（包括正常的经常性调整）均已包含在内。所呈现期间的运营结果并不一定代表截至 2024 年 12 月 31 日的预期结果。因此，本季度报告（表格 10-Q）中的信息应与公司在截至 2023 年 12 月 31 日的财年中包含在公司年度报告（表格 10-K）中的经审计合并 基本报表 一起阅读。截止至 2023 年 12 月 31 日的资产负债表已从公司的经审计合并 基本报表 中获得，但未包括 GAAP 所要求的所有披露。
最近发布的会计准则
截至2024年9月30日，已发布但尚未采纳的会计公告
在2023年11月，财务会计准则委员会（"FASB"）发布了会计准则更新（"ASU"）2023-07， segment reporting (主题 280): 可报告分部披露的改进以改善可报告部门的披露要求。新的指引要求披露定期提供给首席运营决策者的重要部门费用，并且包括在报告的部门利润或亏损的计算中。它并不改变部门的定义或确定可报告部门的指引。新的指引将于2024年1月1日起在公司的年度期间生效，2025年适用于中期期间。采纳此ASU将导致额外的披露，但不会影响公司的合并财务状况、经营业绩或现金流。
在2023年12月，FASB发布了ASU 2023-09， 所得税（主题740）：所得税披露的改进, 为了增强所得税披露的透明度和决策实用性。该ASU中的修订要求对所得税进行额外披露，主要集中在已支付所得税的披露和税率调解表上。新的指导将在2025年1月1日开始的年度期间对公司生效。公司正在评估该ASU对合并基本报表中披露的影响。
9
目录
2. 按地区划分的收入、信用风险集中度和剩余履约义务
以下表格展示了截至2024年和2023年9月30日的三个月和九个月的地域板块和可报告细分的收入：
截至2024年9月30日的三个月
(单位：百万)科技与分析解决方案研究与开发解决方案合同销售与医疗解决方案总计
营业收入：
美洲$797 $969 $72 $1,838 
欧洲和非洲626 607 54 1,287 
亚洲-太平洋地区131 586 54 771 
营业收入总额$1,554 $2,162 $180 $3,896 
截至2023年9月30日的三个月
(单位：百万)科技与分析解决方案研究与开发解决方案合同销售与医疗解决方案总计
营业收入：
美洲$761 $1,017 $78 $1,856 
欧洲和非洲519 520 50 1,089 
亚洲-太平洋地区151 585 55 791 
营业收入总额$1,431 $2,122 $183 $3,736 
截至2024年9月的九个月
(单位：百万)科技与分析解决方案研发解决方案合同销售与医疗解决方案总计
营业收入：
美洲$2,323 $2,969 $211 $5,503 
欧洲和非洲1,757 1,699 166 3,622 
亚洲-太平洋地区422 1,736 164 2,322 
营业收入总额$4,502 $6,404 $541 $11,447 
截至2023年9月30日的九个月
(单位：百万)科技和分析解决方案研究和开发解决方案合同销售和医疗解决方案总计
营业收入：
美洲$2,268 $2,982 $228 $5,478 
欧洲和非洲1,606 1,547 146 3,299 
亚洲-太平洋地区457 1,715 167 2,339 
营业收入总额$4,331 $6,244 $541 $11,116 
否 在截至2024年或2023年9月30日的三个月和九个月期间，单个客户占合并收入的10%或更多。
10
目录
分配给剩余履约义务的交易价格
截至2024年9月30日，预计将有约$33.3 十亿美元的收入将在未来从剩余的履约义务中确认。公司预计将在接下来的 30%的剩余履约义务中确认收入，持续时间为 作为收入确认，时间跨度为十二个月，在接下来的 85%的履约义务中确认收入，持续五年，余额将在此后确认。公司剩余的履约义务中，大部分预计将在未来十二个月之外确认的收入，来自于公司研究与开发解决方案部门的临床研究服务合同。分配给剩余履约义务的客户合同交易价格与待处理订单不同，因为它不包括客户有单方权利取消安排的完全未履行的合同。.
3. 交易应收账款、未开票服务和未赚取收入
交易应收账款和未开票服务包括以下内容：
(单位：百万)2024年9月30日2023年12月31日
应收账款$1,176 $1,473 
未开票服务2,061 1,942 
交易应收账款和未开票服务3,237 3,415 
坏账准备(41)(34)
交易应收账款和未开票服务净额$3,196 $3,381 
未计费的服务和未实现的收入如下：
(单位：百万)2024年9月30日2023年12月31日
变更
未计费的服务$2,061 $1,942 $119 
未赚取的收入(1,824)(1,799)(25)
净余额$237 $143 $94 
应收账款未开票服务的大约 67% 68% 的未开票应收款和 33% 32% 的合同资产截止到2024年9月30日和2023年12月31日，分别增加了 $119 百万，相较于2023年12月31日。合同资产是根据与临床研究相关的服务合同某些里程碑的时间而开票的未开票服务，而未开票应收款则是在时间推移后可开票的收入。未赚取的收入在同一时期内增加了 $25 百万，导致2024年9月30日和2023年12月31日之间未开票服务和未赚取的收入净余额增加了 $94 百万。净余额的变化是由于根据会计标准编码（"ASC"）606的收入确认时机差异所致。 来自客户合同的营业收入主要与公司的研发解决方案合同（根据发生的成本百分比）有关，而发票的时间则基于某些里程碑。
截至2024年12月31日，年初的大部分未赚取收入余额预计将在本年度内确认收入。
截至2024年9月30日和2023年9月30日，对公司交易应收账款确认的坏账费用在三个月和九个月内是微不足道的。
应收账款保理安排
公司有应收账款保理协议，以向无关的第三方金融机构出售某些合格的无担保贸易应收账款，交易可以基于自动安排或由公司选择进行，无追索权，换取现金。在截至2024年9月30日的九个月中，通过公司最常用的应收账款保理安排，公司以无追索权的方式保理了大约$531 百万的客户发票，并从销售中获得了大约$520 百万的现金收入。与这些交易相关的费用是微不足道的。公司还有其他应收账款安排，但相关活动不重要。
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目录
4. 商誉
以下是截至2024年9月30日的可报告分部的商誉汇总：
(单位：百万)科技与分析解决方案研发解决方案合同销售与医疗解决方案合并
截至2023年12月31日的余额$11,976 $2,439 $152 $14,567 
业务组合289 181 — 470 
外币波动和其他的影响49 5 — 54 
截至2024年9月30日的余额$12,314 $2,625 $152 $15,091 
5. 衍生品
公司的衍生工具的公允价值以及与其记录在一起的简明合并资产负债表上的项目总结如下表所示：
(单位：百万)资产负债表分类2024年9月30日2023年12月31日
资产负债名义资产负债名义
被指定为对冲工具的衍生品：
利率互换其他流动资产、其他资产和其他流动负债$— $70 $2,489 $13 $51 $3,300 
货币互换 其他流动负债 — 102 2,739 — 108 2,750 
汇率期货合约其他流动资产和其他流动负债6 — 118 2 — 121 
衍生工具总计$6 $172 $15 $159 
公司的现金流对冲工具在税前对其他综合收益的影响总结在以下表格中：
截至9月30日的三个月截至9月30日的九个月
(单位：百万)2024202320242023
利率互换$(70)$(1)$(32)$(6)
汇率期货合约4 (9)4 (4)
总计$(66)$(10)$(28)$(10)
公司预计截至2024年9月30日，与汇率期货和利率衍生品相关的约$21 百万的税前未实现收益将被重新分类到未来十二个月内的收益中。截至2024年和2023年9月30日的三个月和九个月，伴随的合并利润表中，现金流套期保值效果的总金额（扣除所得税）为$8百万和$9百万，以及$28百万和$41百万，分别为。
截至2024年9月30日，该公司的跨货币互换被指定为对冲其对某些外国子公司的净投资。在截至2024年9月30日的三个月和九个月中，公司记录了美元 (101) 百万美元损失和 $6 由于这些跨货币互换，AOCI内部分别获得了100万美元的收益。该公司确认了大约 $8 百万和美元26 百万美元与排除部分有关，分别是截至2024年9月30日的三个月和九个月的利息支出减少额。
12
目录
截至2024年9月30日，公司外币计价债务余额（扣除原始发行折扣）的部分作为对其在某些外国子公司的净投资对冲，总计为€2,564 百万（$2,862 百万）。与净投资对冲相关的汇率期货（损失）收益在截至2024年和2023年9月30日的三个月和九个月的累计翻译调整组件中为$(114)百万，$(26)百万，$161 百万，以及$69百万，分别为。
6. 公允价值测量
公司将某些资产和负债以公允价值进行记录。公允价值定义为在计量日期，市场参与者之间有序交易中，为资产出售所能收到的价格或为转移负债所支付的价格，这一价格应在资产或负债的主要市场或最有利市场中确定。下面描述了一个三层公允价值层级，优先考虑用于测量公允价值的输入。这一层级要求实体最大限度地使用可观察输入，最小化使用不可观察输入。用于测量公允价值的三层输入如下：
•第一级 — 以活跃市场中相同资产或负债的报价为基础。
•第二级——可观察的输入，除了第一级中的报价价格外，包括在活跃市场中的类似资产和负债的报价价格；在非活跃市场中相同或类似资产和负债的报价价格；或其他可观察的输入，或者可以通过可观察的市场数据进行确认。
•第三级——依赖于很少或没有市场活动的不可观察输入。这包括某些定价模型、折现现金流方法和类似技术，这些方法使用了大量不可观察的输入。
截至2024年9月30日和2023年12月31日，现金、现金等价物、应收账款和应付账款的账面价值因其开空性质而接近其公允价值。截至2024年9月30日和2023年12月31日，所有债务的公允价值为$13,547 百万和$13,597 百万，分别是根据这些金融工具的二级计量确定的。
重复公允价值计量
以下表格总结了截至2024年9月30日，公司按公允价值持续计量和报告的金融资产和负债的公允价值：
(单位：百万)一级二级第三级总计
资产:
可售证券$173 $— $— $173 
衍生品— 6 — 6 
总计$173 $6 $— $179 
负债：
衍生品$— $172 $— $172 
或有对价— — 94 94 
总计$— $172 $94 $266 
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目录
下表总结了截至2023年12月31日，公司按公允价值反复计量和报告的金融资产和负债的公允价值：
(单位：百万)一级二级第三级总计
资产:
可售证券$146 $— $— $146 
衍生品— 15 — 15 
总计$146 $15 $— $161 
负债：
衍生品$— $159 $— $159 
或有对价— — 106 106 
总计$— $159 $106 $265 
以下是用于确定公允价值的估值技术的总结：
可交易证券 — 本公司根据所持证券的报价市场价值来评估交易证券和可供出售证券的价值。
衍生品 — 衍生品包括外汇合约、利率互换和跨币种互换。外汇合约的公允价值基于可观察的市场输入，即现货和远期汇率，或使用其他可观察的输入。利率互换的公允价值是公司为了终止这些协议而可能收到或支付的估计金额，考虑到市场利率与剩余的到期时间，或使用市场输入的中间市场定价作为买卖差价的一个实用方法。跨币种互换的公允价值是公司为了终止这些协议而可能收到或支付的估计金额，考虑到有效利率、汇率和剩余的到期时间。
或有对价 公司采用加权概率计算方法评估与业务组合相关的或有对价，考虑潜在支付场景，并按反映预期未来现金流风险的利率折现。用于估计或有对价公允价值的假设包括各种财务指标（收入绩效目标和运营预测）以及实现具体目标的概率。根据对实现具体目标概率的评估，截至2024年9月30日，公司已计提约 29%的最高或有对价支付款项，这些款项可能会变得应付。
下表总结了截至2024年9月30日的九个月内按重复计量的3级金融资产和负债的变化：
(单位：百万)或有对价
截至2023年12月31日的余额$106 
业务组合55 
支付的或有对价(10)
计入收益的重估和外币换算调整(57)
截至2024年9月30日的余额$94 
当前部分的或有对价包含在应计费用中，而长期部分包含在其他负债中，具体如下所示的简明合并资产负债表。 或有对价的重估列入附带的简明合并损益表中的其他费用（收入），净额。重要不可观察输入的变化可能导致或有对价的公允价值测量更高或更低。
非经常性公允价值测量
截至2024年9月30日，资产在资产负债表上列示且未按公允价值定期重新计量的总额为$20,112百万，并被识别为第3级。这些资产包括债务投资以及成本和权益法投资的$287百万，商誉为$15,091 百万和其他可识别的无形资产，净额为$4,734 百万的所得税收益。
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7. 信用安排
以下是截至2024年9月30日公司的循环信贷额度的摘要：
设施
利率期货。
$2,000 百万（循环信贷额度）
美元期限SOFR加上 1.25% 10 基点信贷利差调整截至2024年9月30日
$110 百万（应收账款融资额度）
美国美元期限SOFR加上一个边际值的 0.90%加上一个 11 基点信用利差调整截至2024年9月30日
以下表格总结了公司在指定日期的债务情况：
(以百万计的美元)2024年9月30日2023年12月31日
2026年到期的循环信贷额度：
以美元计价的借款—美国美元SOFR，平均浮动利率为 —%
$— $100 
高级担保信贷设施：
2026年到期的A类贷款—美国美元SOFR，平均浮动利率为 6.20%
1,216 1,270 
A类贷款到期日为2026年——欧元指数在平均浮动利率下为 4.60%
296 306 
A类贷款到期日为2027年——美元期限SOFR在平均浮动利率下为 6.41%
1,109 1,156 
B类贷款到期日为2025年——欧元指数在平均浮动利率下为 5.35%
583 576 
B类贷款到期日为2031年——美元期限SOFR在平均浮动利率下为 6.60%
1,489 1,500 
5.700%高级担保票据到期日为2028年——以美元计
750 750 
6.250%高级担保票据到期日为2029年——以美元计
1,250 1,250 
5.0%高级票据到期日为2027年——以美元计
1,100 1,100 
5.0%高级票据到期日为2026年——以美元计
1,050 1,050 
6.500% 优先票据到期于2030年—以美元计价
500 500 
2.875% 优先票据到期于2025年—欧元指数计价
469 464 
2.25% 优先票据到期于2028年—欧元指数计价
804 795 
2.875% 优先票据到期于2028年—欧元指数计价
793 785 
1.750% 优先票据到期于2026年—欧元指数计价
614 607 
2.250% 优先票据到期于2029年—欧元指数计价
1,005 993 
应收账款融资工具到期于2027年—以美元计价的SOFR浮动利率的平均值为 6.22%:
循环贷款承诺110 110 
定期贷款440 440 
债务的本金金额13,578 13,752 
减：未摊销的折扣和债务发行成本(66)(79)
减去：当前部分(1,219)(718)
长期债务$12,293 $12,955 
15
目录
截至2024年9月30日的长期债务约定到期情况如下：
(单位：百万)
2024年剩余时间$42 
20251,219 
20263,141 
20272,634 
20282,362 
之后4,180 
$13,578 
高级担保信贷设施
截至2024年9月30日，公司的第五修订和重述信贷协议通过多个高级担保信贷设施提供高达$6,688 百万，这包括$4,693 百万的债务余额（如上表所述），以及$1,995 百万的可用借款容量，来自于$2,000 百万的循环信贷设施和备用信用证。该循环信贷设施包括一个$1,175 百万的高级担保循环信贷设施，支持以美元进行借款，一个$600 百万的高级担保循环信贷设施，支持以美元、欧元、瑞士法郎和其他外币进行借款，以及一个$225 百万的高级担保循环信贷设施，支持以美元和日元进行借款。
应收账款融资工具
2024年10月1日，公司修订了应收账款融资额度，将5.5亿美元融资的期限延长至2027年10月1日。根据应收账款融资机制，公司的某些应收账款由其某些合并子公司（均为 “发起人”）在无追索权的基础上出售给其另一家合并子公司，即破产远程特殊目的实体（“SPE”）。SPE从第三方贷款人那里获得了以SPE资产留置权为担保的定期贷款和循环贷款承诺，为购买包括美元在内的应收账款融资440百万定期贷款和一美元110百万循环贷款承诺。截至2024年9月30日，应收账款融资机制下没有额外数额的循环贷款。
限制性条款
公司的债务协议提供了与类似工具惯例相符的某些契约和违约事件，包括不超过规定的综合高级担保净负债与综合EBITDA的比率的契约，以及保持规定的最低利息保障比率的契约。如果在公司或公司的子公司的融资安排下发生违约事件，则该融资安排下的债权人有权采取各种行动，包括加速到期金额的支付，在循环信贷融资和定期贷款的情况下，则可以采取担保债权人允许采取的其他行动。公司的长期债务安排包含其他通常和惯例的限制性契约，其中包括对公司宣告分红派息的能力施加限制。截至2024年9月30日，公司在所有重大方面遵守了公司的融资安排下的财务契约。.
8. 应急措施
公司及其子公司参与普通业务过程中产生的法律和税务程序、索赔以及诉讼。管理层定期根据可用的最新信息评估公司的负债和或有事项。对于管理层目前认为公司可能会遭受损失且该损失的可能性或范围可以合理估计的事项，公司已根据其对该损失的最佳估计在合并基本报表中记录了一项预提。对于其他情况，由于与可能结果或损失金额或范围相关的不确定性，管理层无法对负债（如有）做出合理估计。
然而，即使在许多情况下，公司已经记录了预计的责任，但公司无法确定地预测该事项的最终结果或该事项的解决是否会对公司的运营结果、财务状况或现金流产生重大影响。随着更多信息的获取，公司会相应地调整其对这些责任的评估和估计。
16
目录
公司在正常的业务过程中，通常与第三方（包括客户和供应商）签订协议。在这些协议中，公司有时同意为其他方可能因潜在的知识产权侵权和其他索赔而遭受的任何损害进行赔偿并保护其免受损害。对于这些事项，公司一般没有计提负债，因为其风险被认为是远程的。
根据对最新可用信息的审查，管理层不认为待解决的法律和税务程序、索赔和诉讼，无论是单独还是合计，都会对公司的经营成果、现金流或财务状况产生重大不利影响。 但是，对公司的任何索赔或诉讼中可能出现的一项或多项不利结果，可能会对其解决时期产生重大不利影响。以下是涉及公司的某些法律事务的摘要。
2014年2月13日，约有1200名医疗医生和900名私人个人向首尔中央地方法院提起了一项民事诉讼，控告IMS韩国及其他两名被告，即韩国药品协会（“KPA”）和韩国药品信息中心（“KPIC”）。该民事诉讼指控KPA和KPIC通过安装在韩国药房计算机系统上的软件系统违反适用的隐私法收集了他们的个人信息，并在未获得必要的同意的情况下将个人信息转移给IMS韩国，并出售给制药公司。2017年9月11日，地区法院作出最终裁决，认为自2014年6月起被告使用的加密措施足以满足韩国个人信息保护法（“PIPA”）的要求，并且根据PIPA，出于市场研究目的共享非识别性信息是被允许的。地区法院还发现早期版本的加密不足以满足PIPA要求，但没有个人数据被泄露或重新识别。地区法院未向原告授予任何损害赔偿。约280名医疗医生和200名私人个人对地区法院的裁决提出上诉。2019年5月3日，上诉法院作出最终裁决，认为KPIC转移给IMS韩国用于市场研究目的的所有非识别性信息违反了PIPA，但未向原告授予任何损害赔偿（确认了地区法院在这一点上的裁决）。2019年5月24日，约247名原告向最高法院上诉。2024年7月11日，最高法院驳回了原告的上诉。最高法院支持IMS韩国的裁决是最终的和具有决定性的。
2015年7月23日，韩国首尔中央地区检察院对24名个人和公司发出了起诉，指控他们在不当处理敏感健康信息方面违反了，包括韩国的个人信息保护法(PIPA)。IMS Korea及其两名员工是被起诉的个人和组织之一。尽管没有证据表明IMS Korea在其任何产品中使用了患者的个人健康信息，但检察官声称IMS Korea的某些数据供应商在将敏感患者信息转换为非识别数据时应当获得患者同意，而IMS Korea并未采取足够的预防措施以降低重新识别的风险。2020年2月14日，首尔中央地区法院宣判IMS Korea及其两名员工在不当处理敏感健康信息的指控上无罪，检察院提起了上诉。2021年12月23日，上诉法院确认了首尔中央地区法院的判决。检察院向最高法院提出上诉。2024年7月11日，最高法院驳回了检察院的上诉。最高法院支持IMS Korea的裁决是终局和权威的。
2017年1月10日，昆泰IMS Health Incorporated和IMS软件服务有限公司（统称 “IQVIA双方”）在美国新泽西特区地方法院对Veeva Systems, Inc.（“Veeva”）提起诉讼，指控Veeva非法使用IQVIA缔约方的知识产权来改善Veeva数据产品，推广和营销Veeva数据产品以及改善Veeva技术产品。IQVIA各方寻求禁令救济，任命监督员，给予补偿性和惩罚性赔偿，并报销所有诉讼费用，包括合理的律师费和费用。2017年3月13日，Veeva提出反诉，指控反竞争商业行为违反了《谢尔曼法案》和州法律。Veeva要求赔偿金额超过美元200 百万，并正在寻求惩罚性赔偿和诉讼费用，包括律师费。该公司认为反诉毫无根据，驳回了Veeva提出的所有反诉，并打算大力捍卫IQVIA各方的立场并对Veeva提出索赔。自首次提交申请以来，双方相互提起了更多诉讼，主要涉及将IQVIA数据与其他各种Veeva产品一起使用。试验定于2025年初进行。
2021年5月7日，法院发布了一项命令和意见（以下简称“订单”），其中发现了大量证据表明Veeva (1) 挪用了IQVIA的数据并非法使用这些数据来改善Veeva的数据产品，(2) 通过删除其盗窃IQVIA商业秘密的重要证据进行掩盖，(3) 在进一步犯罪和/或对IQVIA的欺诈中不当保留某些特权证据。法院对Veeva施加了五项制裁，包括命令向陪审团出示三项相应的推论指示，并允许IQVIA向陪审团提供关于Veeva销毁证据的努力的证据。Veeva对该订单提出了上诉。2024年3月30日，法院驳回了Veeva关于其被拒绝的特权主张的上诉，同时保留对适当制裁的裁定以便于日后决定。
17
目录
9. 股东权益
优先股
公司获准发行 1.0 百万优先股，$0.01 每股面值。 否 截至2024年9月30日或2023年12月31日，共发行或流通优先股。
股权回购计划
截至2024年9月30日，公司的股权回购计划（"回购计划"）下的总股票回购授权为$11,725 百万。回购计划并不要求公司回购任何特定数量的普通股，并且可以在任何时间进行修改、延长、暂停或停止。截止2024年9月30日的九个月内，公司回购了 0.8 百万股其普通股，花费了$200百万。截止2024年9月30日，公司还有剩余授权可以回购最多$2,163 百万的普通股。在此之外，公司不时回购，并可能继续通过私人或其他交易回购普通股，超出回购计划。
10. 商业组合
公司在截至2024年9月30日的九个月内完成了几项单独的非重要收购。公司对公允价值的评估，包括某些识别的无形资产的估值，以及与这些收购相关的购买价格分配，都是初步的，并且在完成时可能会有所变动。随着对收购资产和承担负债的公允价值相关额外信息的评估，可能需要进一步调整，这些调整主要与收购的无形资产及相关递延税款有关。公司记录了这些收购产生的商誉，主要与组建的劳动力、预期的协同效应和新客户关系有关。经过浓缩的合并基本报表包括收购后各自完成日期的结果。未提供临时信息，因为临时的运营结果与公司的实际运营结果不会有重大区别。
下表提供了这些收购的某些初步财务信息：
(单位：百万)2024年9月30日
获得的资产:
现金及现金等价物$23 
应收账款 49 
其他资产51 
商誉470 
其他可识别无形资产266 
假定的负债:
其他负债(88)
递延所得税，长期(37)
净资产收购 (1)
$734 
(1) 收购的净资产包括或有对价和延期购买价格为 $62 百万的所得税收益。
用于所得税目的的可扣除商誉部分初步评估为$297 百万的所得税收益。
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目录
下表提供了对所收购某些无形资产初步估计公允价值的总结：
(单位：百万)摊销期2024年9月30日
其他可识别的无形资产：
客户关系10-16年$222 
订单积压1-4年27 
商标名称5年6 
软件和相关资产3-5年6 
不竞争协议3-5年3 
数据库5年2 
其他可识别的无形资产总额$266 
11. 重组
公司在2024年继续采取重组措施，以调整资源并减少产能过剩，以适应不断变化的市场条件并整合收购。这些措施包括整合职能活动、 eliminating 重复职位，以及根据客户需求调整资源。这些重组措施预计将在2024年及2025年持续进行。
以下金额是为重组计划记录的：
(单位：百万)遣散费及相关费用
截至2023年12月31日的余额$36 
费用，扣除反转后的金额71 
付款(62)
外币翻译及其他1 
截至2024年9月30日的余额$46 
这些反转是由于估计的变化，主要是由于员工重部署和高于预期的自愿离职造成的。重组成本不分配给公司的可报告部门，因为它们不是管理层定期审查的部门绩效衡量标准的一部分。公司预计截至2024年9月30日的大部分重组应计费用将在2024年和2025年支付。
12. Income Taxes
公司的有效所得税率为 18.6% 14.62024年和2023年第三季度为% ，2024年和2023年前九个月分别为16.8%和18.7%。2024年第三季度和前九个月的有效所得税率受到美国和外国税收管辖区之间收益地理组合变化的有利影响。2023年第三季度和前九个月的有效所得税率因税收抵免结转的不确定税务状况的逆转而受到有利影响，金额为2100万美元。2024年和2023年第三季度以及前九个月的有效所得税率也因在结算基于股份的补偿奖励时确认的超额税收利益而受到有利影响。对于2024年和2023年第三季度，这一影响为$2百万，而对于2024年和2023年前九个月，这一影响为$14百万和$12百万，分别为。
多个外国法域已同意实施经济合作与发展组织（“OECD”）的第二支柱全球企业最低税率，为15%，适用于收入至少为75000万欧元的公司，该税率将于2024年生效。公司已持续评估这一影响，直到2024年第三季度末，并不预计2024年会有任何重大影响。公司将在未来的时期继续监控，因为其他法域也将制定第二支柱立法。
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目录
13. 其他综合收益（亏损）累计额
以下是其他综合收益（AOCI）元件的总结：
(单位：百万)外币翻译衍生工具定义福利计划所得税总计
截至2023年12月31日的余额$(969)$(34)$3 $133 $(867)
重新分类之前的其他全面收益（损失）75 10 (1)(15)69 
重新分类的调整— (38)— 10 (28)
截至2024年9月30日的余额$(894)$(62)$2 $128 $(826)
以下是从其他综合收益重新分类到简明合并损益表的调整摘要，以及受影响的财务报表项目：
(单位：百万)受影响的财务报表项目截至9月30日的三个月截至9月30日的九个月
2024202320242023
衍生工具：
利率互换利息支出$8 $17 $38 $35 
汇率期货合约营业收入3 (5)— 20 
税前总额11 12 38 55 
所得税3 3 10 14 
税后总额$8 $9 $28 $41 
14. 细分市场
下表展示了公司的按可报告部门划分的运营情况。公司通过 三 可报告部门，科技与分析解决方案、研究与开发解决方案以及合同销售与医疗解决方案进行管理。科技与分析解决方案为公司的生命科学客户提供关键任务信息、科技解决方案和现实世界洞察与服务。研究与开发解决方案主要服务于生物制药客户，提供外包的临床研究和临床试验相关服务。合同销售与医疗解决方案为生物制药客户和更广泛的医疗保健市场提供医疗保健提供者（包括合同销售）和患者参与服务。
某些费用未分配到我们的各个部门，而是作为一般企业和未分配费用报告。这些费用主要包括基于股份的薪酬以及与整合活动和收购相关的费用。公司也不将重组费用、折旧和摊销费用或任何减值费用分配给各个部门。 各部门的资产信息未被呈现，因为这一指标并未被首席运营决策者用来评估公司的表现。公司的报告性部门信息如下所示：
20
目录
截至9月30日的三个月截至9月30日的九个月
(单位：百万)2024202320242023
营业收入
科技与分析解决方案$1,554 $1,431 $4,502 $4,331 
研究与开发解决方案2,162 2,122 6,404 6,244 
合同销售与医疗解决方案180 183 541 541 
营业收入总额3,896 3,736 11,447 11,116 
不包括折旧和摊销的收入成本
科技与分析解决方案922 859 2,720 2,593 
研究与开发解决方案1,442 1,410 4,268 4,213 
合同销售与医疗解决方案154 157 462 461 
不包括折旧和摊销的总收入成本2,518 2,426 7,450 7,267 
销售、一般和管理费用
科技与分析解决方案227 217 681 652 
研究与开发解决方案222 217 666 640 
合同销售与医疗解决方案14 14 45 43 
一般企业和未分配59 54 147 162 
销售、一般和行政总费用522 502 1,539 1,497 
细分利润
科技与分析解决方案405 355 1,101 1,086 
研究与开发解决方案498 495 1,470 1,391 
合同销售与医疗解决方案12 12 34 37 
总细分利润915 862 2,605 2,514 
一般公司和未分配(59)(54)(147)(162)
折旧和摊销(278)(297)(811)(809)
重组费用(28)(30)(71)(67)
来自运营的总收入$550 $481 $1,576 $1,476 
15. 每股收益
下表展示了基本每股收益和稀释每股收益的计算：
截至9月30日的三个月截至9月30日的九个月
(以百万为单位，除每股数据外)2024202320242023
分子:
净利润$285 $303 $936 $889 
分母:
基本加权平均流通股数182.1 182.9 182.1 184.4 
稀释性期权和分享奖励的影响2.1 2.6 2.2 2.5 
稀释后加权平均流通股数184.2 185.5 184.3 186.9 
归属于普通股东的每股收益：
基本$1.57 $1.66 $5.14 $4.82 
稀释$1.55 $1.63 $5.08 $4.76 
以国库法计算时，股票奖励在各期内的公司普通股每股平均市场价值超过行使收益时，将会产生稀释效应。业绩奖励根据报告期末业绩目标是否达到来计算稀释每股收益。
21
目录
截至2024年和2023年9月30日的三个月和九个月，未计入稀释每股收益计算中的股票奖励的加权平均数量，因为它们受到在报告期末未满足的业绩条件的限制，或者包含这些股票奖励在计算中会导致反稀释，数量为 1.0 百万 0.9 百万， 1.0 百万 1.0 百万，分别为。
22
目录
项目2. 管理层的讨论与分析财务控件和运营结果
前瞻性信息的警示声明
您应该将以下关于我们财务控件和运营结果的讨论与我们在本季度报告10-Q表格中包含的简明合并基本报表及相关附注，以及我们在截至2023年12月31日的财政年度的年度报告10-K表格中包含的审计合并基本报表及其附注一起阅读（我们的“2023年表10-K”）。
除了历史综合财务信息外，以下讨论包含或引用了根据联邦证券法律的定义的前瞻性陈述，包括1933年《证券法》第27A条修订（“证券法”）和1934年《证券交易法》第21E条修订（“交易法”），这些陈述不是历史事实，而是反映了我们的当前期望、预测和预期的运营结果，这些都受到已知和未知的风险、不确定性和其他因素的影响，这些因素可能导致我们的实际结果、表现或成就、市场趋势或行业结果与这些前瞻性陈述所表达或暗示的有重大差异。因此，本文中包含的任何非历史事实的陈述都可能是前瞻性陈述，应被视为此类陈述进行评估。 “假设”、“预期”、“相信”、“估计”、“希望”、“打算”、“可能”、“预测”、“计划”、“项目”、“应该”、“寻求”、“看到”、“目标”、“将会”、“会”等类似词语和表达，以及这些词的变体和否定形式，旨在识别前瞻性陈述，尽管并非所有前瞻性陈述都包含这些识别词。我们不承担更新任何此类前瞻性信息的义务，以反映实际结果或影响此类前瞻性信息的因素的变化。
我们提醒您，任何此类前瞻性陈述均受到重要因素的进一步限制，可能导致我们的实际运营结果与前瞻性陈述中的结果存在重大差异，包括但不限于，因自然灾害、如COVID-19（冠状病毒）疫情爆发（包括任何变种）造成的业务中断，以及对疫情的公共卫生政策响应，以及国际冲突或我们无法控制的其他中断，例如当前在乌克兰和俄罗斯的情况；我们的绝大多数合同可能会被短期终止，我们可能会失去或与大型客户合同的签署延迟，或无法签订新合同；我们服务的市场可能不会如我们预期那样增长；我们可能无法成功开发和营销新服务或进入新市场；数据供应商对我们使用数据的限制或他们拒绝许可数据给我们的情况；我们任何未能遵守合同、监管或伦理要求，包括当前或未来的数据保护和隐私法律的变化；我们或外包合作伙伴的安全或通信系统的违规或滥用；未能实现我们的生产力或业务转型目标；未能成功投资于增长机会；我们保护知识产权的能力以及我们面临的他人声称我们侵犯其知识产权的索赔的敏感性；无法获得第三方技术或知识产权的许可或其到期；我们未能准确及时地为合同定价和制定成本估算，或未能记录变更单；硬件和软件故障，计算机和通信系统的运行延迟或未能实施系统增强；我们的积压订单转化为收入的速度；我们获取、开发和实施我们业务所需技术的能力；我们客户所面临行业的整合；与客户或治疗集中相关的风险；政府监管机构或我们的客户可能会限制药物和治疗的适应症数量或范围，或从市场上撤回产品，政府监管机构可能会强制实施新的监管要求或可能制定影响生物制药行业的新法规；在全球范围内运营相关的风险，包括货币或交易所汇率波动和法律合规，包括反腐败法律；与会计标准变化相关的风险；我们运营市场的一般经济状况，包括金融市场状况、通货膨胀以及与向政府实体销售相关的风险；税法和法规变化的影响；以及我们成功整合所收购企业并实现预期收益的能力。有关与我们业务相关风险的进一步讨论，请参见我们2023年表10-K的第一部分-第1A项-“风险因素”，以及我们随后提交的表10-Q季报中的更新。
概述
IQVIA是一家领先的全球临床研究服务、商业洞察和医疗情报提供商，服务于生命科学和医疗行业。IQVIA的解决方案组合由IQVIA连接智能™驱动，旨在提供可操作的洞察和基于高质量健康数据、医疗级人工智能™、先进的分析、最新的科技和广泛的领域专业知识的服务。IQVIA在100多个国家拥有约88,000名员工，包括医疗、生命科学、数据科学、科技和运营卓越领域的专家，致力于加快创新医疗治疗的开发和商业化，以帮助改善全球患者的结果和公共健康。
23
目录
我们是保护患者隐私的全球领导者。我们使用多种隐私增强技术和保障措施，保护个人隐私，同时生成和分析大量信息，帮助医疗利益相关者识别疾病模式，并关联到精确的治疗路径和所需的疗法，以获得更好的结果。我们的洞察力和执行能力帮助生物技术、器械、药品公司，医学研究人员，政府机构，付款方和其他医疗利益相关者深入理解疾病、人类行为和科学进展，以推动他们朝着治愈的道路前进。
我们通过三个可报告的细分市场进行管理：科技与分析解决方案、研发解决方案和合同销售与医疗解决方案。科技与分析解决方案为我们的生命科学客户提供关键任务信息、科技解决方案以及现实世界的见解和服务。研发解决方案主要服务于生物制药客户，提供外包的临床研究和临床试验相关服务。合同销售与医疗解决方案为生物制药客户及更广泛的医疗市场提供医疗保健提供者（包括合同销售）和患者参与服务。
营业收入的来源
总收入包括我们提供服务的收入。我们没有任何重要的产品收入。
费用和支出
我们的成本和费用主要包括我们的收入成本，包括补偿费用和销售、一般及管理费用。收入成本包括可计费员工和参与生产、试验监控、数据管理和交付的人员的薪资和福利，以及获取和处理数据用于我们的信息服务的成本；直接参与提供科技相关服务的工作人员的费用，相关住宿和专门为科技服务项目购买的数据的费用；以及与服务合同直接相关的其他费用，例如快递费用、实验室用品、专业服务和差旅费用。包含在收入成本中的补偿费用主要包括支付给监督临床试验的研究人员的款项以及我们临床监测人员和销售代表的差旅费用。销售、一般及管理费用包括与销售、市场营销和行政职能（包括人力资源、法律、财务、质量保证、合规和一般管理）相关的薪资和福利、差旅、专业服务、培训及信息技术和设施的费用。我们还产生与折旧和摊销相关的成本和费用。
外币翻译
在2024年的前九个月，约30%的收入是以除美元以外的货币计量的，这代表大约60种货币。由于我们大部分的收入和支出是以外币计量的，而我们的基本报表是以美元报告的，因此，外币汇率的变动会显著影响我们的经营成果。我们外国业务的收入和支出通常以当地货币计量，并在财务报告中转换为美元。因此，汇率波动将影响外国业绩转换为美元，以报告我们的精简合并结果。因此，我们认为，报告剔除外币汇率波动对某些财务结果影响的经营成果，可以方便进行期间比较的分析。这一恒定货币信息假设在可比的去年同期使用的外汇汇率在当前期间结果的转换中保持不变。因此，报告的经营成果与恒定货币信息之间的差异完全归因于外币汇率波动的影响。
综合运营成果
有关我们在科技与分析解决方案、研究与开发解决方案以及合同销售与医疗解决方案的运营结果的信息，详情请参阅本节后面的“细分运营结果”。
24
目录
营业收入
截至9月30日的三个月
变更
(单位：百万)
20242023
$
%
营业收入$3,896 $3,736 $160 4.3 %
在2024年第三季度，我们的营业收入增加了16000万美金，或4.3%，与2023年同一时期相比。此次增长包括了大约15800万美金的恒定货币营业收入增长，或4.2%，其中科技与分析解决方案增加了11800万美金，研究与开发解决方案增加了4200万美金，而合同销售与医疗解决方案减少了200万美金。
截至9月30日的九个月
变更
(单位：百万)
20242023
$
%
营业收入$11,447 $11,116 $331 3.0 %
在2024年前九个月，我们的营业收入增长了3.31亿美元，增长了3.0%，与2023年同期相比。这个增长包括了货币不变营业收入增长约39300万，或3.5%，其中科技与分析解决方案增长了18800万，研究与开发解决方案增长了18900万，以及合同销售与医疗解决方案增长了1600万。
营业成本，不包括折旧和摊销
截至9月30日的三个月截至9月30日的九个月
(单位：百万)2024202320242023
不包括折旧和摊销的收入成本$2,518 $2,426 $7,450 $7,267 
营收百分比64.6 %64.9 %65.1 %65.4 %
与2023年同期相比，2024年9月30日止三个月的9200万美元收入成本增加，包括大约15600万美元或6.4%的常规货币增长，反映出科技与分析解决方案增加了7000万美元，研究与开发解决方案增加了8800万美元，以及合同销售与医疗解决方案减少了200万美元。
截至2024年9月30日的九个月内，费用收入的增加为18300万美元（不包括折旧和摊销），与2023年同期相比，包含了大约48000万美元，或6.6%的稳定货币增加，反映出科技与分析解决方案增加了15400万美元，研究与开发解决方案增加了31100万美元，以及合同销售与医疗解决方案增加了1500万美元。
销售、一般和管理费用
截至9月30日的三个月截至9月30日的九个月
(单位：百万)
2024202320242023
销售、一般和管理费用$522 $502 $1,539 $1,497 
% 的收入
13.4 %13.4 %13.4 %13.5 %
与2023年同期相比，截止2024年9月30日的三个月内，销售、一般和行政费用增加了2000万美元，其中以固定汇率计算约增加了1900万美元，增长幅度为3.8%。这反映了科技与分析解决方案增加了800万美元，研究与开发解决方案增加了700万美元，以及一般企业和未分配费用增加了400万美元。
The $42 million increase in selling, general and administrative expenses for the nine months ended September 30, 2024 as compared to the same period in 2023 included a constant currency increase of approximately $64 million, or 4.3%, reflecting a $37 million increase in Technology & Analytics Solutions, a $35 million increase in Research & Development Solutions, and a $2 million increase in Contract Sales & Medical Solutions, offset by a $10 million decrease in general corporate and unallocated expenses.
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Depreciation and Amortization
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Depreciation and amortization$278 $297 $811 $809 
% of revenues
7.1 %7.9 %7.1 %7.3 %
The $19 million decrease in depreciation and amortization for the three months ended September 30, 2024 compared to the same period in 2023 was primarily the result of less amortization of intangible assets from acquisitions.
The $2 million increase in depreciation and amortization for the nine months ended September 30, 2024 compared to the same period in 2023 was primarily the result of an increase in amortization of capitalized software.
Restructuring Costs
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Restructuring costs$28 $30 $71 $67 
The restructuring costs incurred during 2024 and 2023 were due to ongoing efforts to streamline our global operations and reduce overcapacity to adapt to changing market conditions and integrate acquisitions. These restructuring actions are expected to occur throughout 2024 and into 2025 and are expected to consist of consolidating functional activities, eliminating redundant positions and aligning resources with customer requirements.
Interest Income and Interest Expense
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Interest income$(13)$(14)$(36)$(24)
Interest expense$170 $181 $499 $491 
Interest income includes interest received primarily from bank balances and investments. The decrease for the three months ended September 30, 2024 as compared to the same period in 2023 is primarily a result of lower global deposit rates. The increase for the nine months ended September 30, 2024 as compared to the same period in 2023 is primarily a result of higher deposit rates.
Interest expense during the three months ended September 30, 2024 decreased compared to the same period in 2023 primarily due to lower debt balances. For the nine months ended September 30, 2024, interest expense increased as a result of higher base rate interest costs across the floating rate debt portfolio.
Other Expense (Income), Net
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Other expense (income), net$44 $(35)$(12)$(77)
Other expense (income), net for the three months ended September 30, 2024 increased compared to the same period in 2023 primarily due to foreign currency loss on transactions and to a lesser extent from revaluations of contingent consideration arrangements.
Other expense (income), net for the nine months ended September 30, 2024 decreased compared to the same period in 2023 primarily due to foreign currency loss on transactions.
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Income Tax Expense
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Income tax expense $65 $51 $189 $203 
Our effective income tax rate was 18.6% and 14.6% in the third quarter of 2024 and 2023, and 16.8% and 18.7% in the first nine months of 2024 and 2023, respectively. Our effective income tax rate in the third quarter and in the first nine months of 2024 was favorably impacted due to changes in the geographical mix of earnings amongst the United States and foreign tax jurisdictions. Our effective income tax rate in the third quarter and first nine months of 2023 was favorably impacted by a reversal of uncertain tax positions relating to tax credit carryforwards in the amount of $21 million. Our effective income tax rate in the third quarter and in the first nine months of 2024 and 2023 was also favorably impacted as a result of excess tax benefits recognized upon settlement of share-based compensation awards. For both the third quarter of 2024 and 2023 this impact was $2 million, and for the first nine months of 2024 and 2023 this impact was $14 million and $12 million, respectively.
Numerous foreign jurisdictions have agreed to implement the OECD's Pillar 2 global corporate minimum tax rate of 15% on companies with revenues of at least €750 million, which went into effect in 2024. We have continued to evaluate the effect of this through the end of the third quarter of 2024 and do not expect any material impacts for 2024. We will continue to monitor in future periods as additional jurisdictions enact Pillar 2 legislation.
Segment Results of Operations
Revenues and profit by segment are as follows:
Three Months Ended September 30, 2024 and 2023
Segment RevenuesSegment Profit
(in millions)2024202320242023
Technology & Analytics Solutions$1,554 $1,431 $405 $355 
Research & Development Solutions2,162 2,122 498 495 
Contract Sales & Medical Solutions180 183 12 12 
Total3,896 3,736 915 862 
General corporate and unallocated(59)(54)
Depreciation and amortization(278)(297)
Restructuring costs(28)(30)
Consolidated$3,896 $3,736 $550 $481 
Nine Months Ended September 30, 2024 and 2023
Segment RevenuesSegment Profit
(in millions)2024202320242023
Technology & Analytics Solutions$4,502 $4,331 $1,101 $1,086 
Research & Development Solutions6,404 6,244 1,470 1,391 
Contract Sales & Medical Solutions541 541 34 37 
Total11,447 11,116 2,605 2,514 
General corporate and unallocated(147)(162)
Depreciation and amortization(811)(809)
Restructuring costs(71)(67)
Consolidated$11,447 $11,116 $1,576 $1,476 
Certain costs are not allocated to our segments and are reported as general corporate and unallocated expenses. These costs primarily consist of stock-based compensation and expenses related to integration activities and acquisitions. We also do not allocate restructuring costs, depreciation and amortization, or impairment charges, if any, to our segments.
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Technology & Analytics Solutions
Three Months Ended September 30,Change
(in millions)20242023$%
Revenues$1,554 $1,431 $123 8.6 %
Cost of revenues, exclusive of depreciation and amortization922 859 63 7.3 
Selling, general and administrative expenses227 217 10 4.6 
Segment profit$405 $355 $50 14.1 %
Nine Months Ended September 30,Change
(in millions)20242023$%
Revenues$4,502 $4,331 $171 3.9 %
Cost of revenues, exclusive of depreciation and amortization2,720 2,593 127 4.9 
Selling, general and administrative expenses681 652 29 4.4 
Segment profit$1,101 $1,086 $15 1.4 %
Revenues
Technology & Analytics Solutions’ revenues were $1,554 million for the third quarter of 2024, an increase of $123 million, or 8.6%, over the same period in 2023. This increase was comprised of constant currency revenue growth of approximately $118 million, or 8.2%, reflecting revenue growth primarily in the Europe and Africa region and to a lesser extent in the Americas region.
Technology & Analytics Solutions’ revenues were $4,502 million for the first nine months of 2024, an increase of $171 million, or 3.9%, over the same period in 2023. This increase was comprised of constant currency revenue growth of approximately $188 million, or 4.3%, reflecting revenue growth primarily in the Europe and Africa region and to a lesser extent in the Americas region.
The constant currency revenue growth for the three and nine months ended September 30, 2024 was primarily driven by an increase in information and technology services and to a lesser extent by real world services. The constant currency revenue growth for the nine months ended September 30, 2024 was impacted by a decrease in COVID-19 related work.
Cost of Revenues, exclusive of Depreciation and Amortization
Technology & Analytics Solutions’ cost of revenues, exclusive of depreciation and amortization, increased $63 million, or 7.3%, in the third quarter of 2024 over the same period in 2023. This increase included a constant currency increase of approximately $70 million, or 8.1%.
Technology & Analytics Solutions’ cost of revenues, exclusive of depreciation and amortization, increased $127 million, or 4.9%, in the first nine months of 2024 over the same period in 2023. This increase included a constant currency increase of approximately $154 million, or 5.9%.
The constant currency increase for the three and nine months ended September 30, 2024 was mainly related to an increase in compensation and related expenses, and to a lesser extent from increases in reimbursed expenses and costs of acquiring and processing data to support revenue growth.
Selling, General and Administrative Expenses
Technology & Analytics Solutions’ selling, general and administrative expenses increased $10 million, or 4.6%, in the third quarter of 2024 as compared to the same period in 2023, which included a constant currency increase of approximately $8 million, or 3.7%.
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Technology & Analytics Solutions’ selling, general and administrative expenses increased $29 million, or 4.4%, in the first nine months of 2024 as compared to the same period in 2023, which included a constant currency increase of approximately $37 million, or 5.7%.
The constant currency increase for the three and nine months ended September 30, 2024 was primarily related to an increase in compensation and related expenses.
Research & Development Solutions
Three Months Ended September 30,Change
(in millions)
20242023
$
%
Revenues$2,162 $2,122 $40 1.9 %
Cost of revenues, exclusive of depreciation and amortization1,442 1,410 32 2.3 
Selling, general and administrative expenses222 217 5 2.3 
Segment profit$498 $495 $3 0.6 %
Nine Months Ended September 30,Change
(in millions)
20242023
$
%
Revenues$6,404 $6,244 $160 2.6 %
Cost of revenues, exclusive of depreciation and amortization4,268 4,213 55 1.3 
Selling, general and administrative expenses666 640 26 4.1 
Segment profit$1,470 $1,391 $79 5.7 %
Backlog
Research & Development Solutions’ contracted backlog increased from $29.7 billion as of December 31, 2023 to $31.1 billion as of September 30, 2024, and we expect approximately $7.8 billion of this backlog to convert to revenues in the next twelve months.
Revenues
Research & Development Solutions’ revenues were $2,162 million for the third quarter of 2024, an increase of $40 million, or 1.9%, over the same period in 2023. This increase was comprised of constant currency revenue growth of approximately $42 million, or 2.0%, reflecting revenue growth primarily in the Europe and Africa region.
Research & Development Solutions’ revenues were $6,404 million in the first nine months of 2024, an increase of $160 million, or 2.6%, over the same period in 2023. This increase was comprised of constant currency revenue growth of approximately $189 million, or 3.0%, reflecting revenue growth primarily in the Europe and Africa region and to a lesser extent in the Asia-Pacific region.
The constant currency revenue growth for the three and nine months ended September 30, 2024 was primarily the result of volume-related increases in clinical services and to a lesser extent from volume-related increases in lab testing. The constant currency revenue growth was impacted by a decrease in COVID-19 related work.
Cost of Revenues, exclusive of Depreciation and Amortization
Research & Development Solutions’ cost of revenues, exclusive of depreciation and amortization, increased $32 million, or 2.3%, in the third quarter of 2024 over the same period in 2023. This increase included a constant currency increase of approximately $88 million, or 6.2%.
Research & Development Solutions’ cost of revenues, exclusive of depreciation and amortization, increased $55 million, or 1.3%, in the first nine months of 2024 over the same period in 2023. This increase included a constant currency increase of approximately $311 million, or 7.4%.
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The constant currency increase for the three and nine months ended September 30, 2024 was primarily related to an increase in compensation and related expenses as a result of volume-related increases in clinical services and lab testing.
Selling, General and Administrative Expenses
Research & Development Solutions’ selling, general and administrative expenses increased $5 million, or 2.3%, in the third quarter of 2024 as compared to the same period in 2023, which included a constant currency increase of approximately $7 million, or 3.2%.
Research & Development Solutions’ selling, general and administrative expenses increased $26 million, or 4.1%, in the first nine months of 2024 as compared to the same period in 2023, which included a constant currency increase of approximately $35 million, or 5.5%.
The constant currency increase for the three and nine months ended September 30, 2024 was primarily related to an increase in compensation and related expenses.
Contract Sales & Medical Solutions
Three Months Ended September 30,
Change
(in millions)
20242023
$
%
Revenues$180 $183 $(3)(1.6)%
Cost of revenues, exclusive of depreciation and amortization154 157 (3)(1.9)
Selling, general and administrative expenses14 14 — — 
Segment profit$12 $12 $— — %
Nine Months Ended September 30,
Change
(in millions)
20242023
$
%
Revenues$541 $541 $— — %
Cost of revenues, exclusive of depreciation and amortization462 461 1 0.2 
Selling, general and administrative expenses45 43 2 4.7 
Segment profit$34 $37 $(3)(8.1)%
Revenues
Contract Sales & Medical Solutions’ revenues were $180 million for the third quarter of 2024, a decrease of $3 million, or 1.6%, over the same period in 2023. This decrease was comprised of constant currency revenue decrease of approximately $2 million, or 1.1%.
Contract Sales & Medical Solutions’ revenues were $541 million in the first nine months of 2024, which is consistent with the same period in 2023. The comparison to the same period in 2023 includes constant currency revenue growth of approximately $16 million, or 3.0%, reflecting revenue growth in the Europe and Africa region and to a lesser extent the Asia-Pacific region.
The constant currency revenue growth for the nine months ended September 30, 2024 was primarily due to volume-related increases in services performed.
Cost of Revenues, exclusive of Depreciation and Amortization
Contract Sales & Medical Solutions’ cost of revenues, exclusive of depreciation and amortization, decreased $3 million, or 1.9%, in the third quarter of 2024 as compared to the same period in 2023. This decrease included a constant currency decrease of approximately $2 million, or 1.3%.
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Contract Sales & Medical Solutions’ cost of revenues, exclusive of depreciation and amortization, increased $1 million, or 0.2%, in the first nine months of 2024 as compared to the same period in 2023. This increase included a constant currency increase of approximately $15 million, or 3.3%.
The constant currency increase for the nine months ended September 30, 2024 was primarily related to an increase in costs associated with supporting revenue growth.
Selling, General and Administrative Expenses
Contract Sales & Medical Solutions’ selling, general and administrative expenses in the third quarter of 2024 were consistent with the same period in 2023.
Contract Sales & Medical Solutions’ selling, general and administrative expenses increased $2 million, or 4.7%, in the first nine months of 2024 as compared to the same period in 2023, which included a constant currency increase of approximately $2 million, or 4.7%.
Liquidity and Capital Resources
Overview
We assess our liquidity in terms of our ability to generate cash to fund our operating, investing and financing activities. Our principal source of liquidity is operating cash flows. In addition to operating cash flows, other significant factors that affect our overall management of liquidity include: capital expenditures, acquisitions, investments, debt service requirements, equity repurchases, adequacy of our revolving credit and receivables financing facilities, and access to the capital markets.
We manage our worldwide cash requirements by monitoring the funds available among our subsidiaries and determining the extent to which those funds can be accessed on a cost-effective basis. The repatriation of cash balances from certain of our subsidiaries could have adverse tax consequences; however, those balances are generally available without legal restrictions to fund ordinary business operations. We have and expect to transfer cash from those subsidiaries to the United States and to other international subsidiaries when it is cost effective to do so.
We had a cash balance of $1,572 million as of September 30, 2024 ($538 million of which was in the United States), an increase from $1,376 million as of December 31, 2023.
Based on our current operating plan, we believe that our available cash and cash equivalents, future cash flows from operations and our ability to access funds under our revolving credit and receivables financing facilities will enable us to fund our operating requirements, capital expenditures, contractual obligations, and meet debt obligations for at least the next 12 months. We regularly evaluate our debt arrangements, as well as market conditions, and from time to time we may explore opportunities to modify our existing debt arrangements or pursue additional financing arrangements that could result in the issuance of new debt securities by us or our affiliates. We may use our existing cash, cash generated from operations or dispositions of assets or businesses and/or proceeds from any new financing arrangements or issuances of debt or equity securities to repay or reduce some of our outstanding obligations, to repurchase shares from our stockholders or for other purposes. As part of our ongoing business strategy, we also continually evaluate new acquisition, expansion and investment possibilities or other strategic growth opportunities, as well as potential dispositions of assets or businesses, as appropriate, including dispositions that may cause us to recognize a loss on certain assets. Should we elect to pursue any such transaction, we may seek to obtain debt or equity financing to facilitate those activities. Our ability to enter into any such potential transactions and our use of cash or proceeds is limited to varying degrees by the terms and restrictions contained in our existing debt arrangements. We cannot provide assurances that we will be able to complete any such financing arrangements or other transactions on favorable terms or at all.
Equity Repurchase Program
As of September 30, 2024, the total stock repurchase authorization under our equity repurchase program (the “Repurchase Program”) was $11,725 million. The Repurchase Program does not obligate us to repurchase any particular amount of common stock, and it may be modified, extended, suspended or discontinued at any time.
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During the nine months ended September 30, 2024, we repurchased 0.8 million shares of our common stock for $200 million under the Repurchase Program. As of September 30, 2024, we had remaining authorization to repurchase up to $2,163 million of our common stock under the Repurchase Program. In addition, from time to time, we have repurchased and may continue to repurchase common stock through private or other transactions outside of the Repurchase Program.
Debt
As of September 30, 2024, we had $13,578 million of total indebtedness, excluding $1,995 million of additional available borrowings under our revolving credit facility. Our long-term debt arrangements contain customary restrictive covenants and, as of September 30, 2024, we believe we were in compliance with our restrictive covenants in all material respects.
Senior Secured Credit Facilities
As of September 30, 2024, our Fifth Amended and Restated Credit Agreement provided financing through the senior secured credit facilities of up to $6,688 million, which consisted of $4,693 million principal amounts of debt outstanding, and $1,995 million of available borrowing capacity on the revolving credit facility and standby letters of credit. See Note 7 to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for additional details regarding our credit arrangements.
Receivables Financing Facility
On October 1, 2024, we amended our receivables financing facility to extend the term of the $550 million facility to October 1, 2027. Under the receivables financing facility, certain of our accounts receivable are sold on a non-recourse basis by certain of our consolidated subsidiaries (each, an “Originator”) to another of our consolidated subsidiaries, a bankruptcy-remote special purpose entity (the “SPE”). The SPE obtained a term loan and revolving loan commitment from third-party lenders, secured by liens on the assets of the SPE, to finance the purchase of the accounts receivable, which includes a $440 million term loan and a $110 million revolving loan commitment. As of September 30, 2024, no additional amounts of revolving loans were available under the receivables financing facility.
Nine months ended September 30, 2024 and 2023
Cash Flow from Operating Activities
Nine Months Ended September 30,
(in millions)20242023
Net cash provided by operating activities$1,831 $1,402 
Cash provided by operating activities increased $429 million during the first nine months of 2024 as compared to the same period in 2023. The increase was due to an increase in cash from accounts receivable and unbilled services ($557 million) and from cash-related net income ($23 million), offset by a decrease in cash from other operating assets and liabilities ($94 million) and unearned income ($57 million).
Cash Flow from Investing Activities
Nine Months Ended September 30,
(in millions)20242023
Net cash used in investing activities$(1,134)$(1,391)
Cash used in investing activities decreased $257 million during the first nine months of 2024 as compared to the same period in 2023, primarily driven by less cash used for acquisitions of businesses ($220 million), investments in debt and equity securities ($34 million), acquisitions of property, equipment and software ($32 million), purchases of marketable securities, net ($4 million) and cash received from sale of property, equipment and software ($25 million), offset by more cash used in investments in unconsolidated affiliates, net ($52 million) and less cash from other ($6 million).
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Cash Flow from Financing Activities
Nine Months Ended September 30,
(in millions)20242023
Net cash (used in) provided by financing activities$(503)$38 
Cash used in financing activities increased $541 million during the first nine months of 2024 as compared to the same period in 2023, primarily due to less cash from debt issuance, net ($1,231 million), more cash payments on debt and principal payments on finance leases ($12 million) and cash payments related to employee stock incentive plans ($3 million), offset by less cash used for repurchase of common stock ($563 million), for revolving credit facilities, net of repayments ($75 million) and payments for contingent consideration and deferred purchase price accruals ($67 million).
Information about our Guarantors and the Issuer of our Guaranteed Securities
IQVIA Inc. (the “Issuer”), a wholly owned subsidiary of IQVIA Holdings Inc., completed the issuance and sale of $1,250 million in gross proceeds of the Issuer’s 6.250% senior secured notes due 2029 (the “2029 Senior Secured Notes”) on November 28, 2023, and completed the issuance and sale of $750 million in gross proceeds of the Issuer’s 5.700% senior secured notes due 2028 (the “2028 Senior Secured Notes”) on May 23, 2023.
In February 2024, the Issuer completed an exchange offer in which it issued $1,250 million aggregate principal amount of 6.250% Senior Secured Notes due 2029 registered under the Securities Act (the “2029 Registered Notes”) and $750 million aggregate principal amount of 5.700% Senior Secured Notes due 2028 registered under the Securities Act (the “2028 Registered Notes” and, together with the 2029 Registered Notes, the 2029 Senior Secured Notes, and the 2028 Senior Secured Notes, the “Notes”) in exchange for the same principal amount and substantially identical terms of the 2029 Senior Secured Notes and 2028 Senior Secured Notes, respectively.
The accompanying summarized financial information has been prepared and presented pursuant to Rule 3-10 of Regulation S-X, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered,” and Rule 13-01 of Regulation S-X, “Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralized a Registrant’s Securities.” Each of our current direct and indirect material U.S. wholly owned restricted subsidiaries (excluding IQVIA Solutions Japan LLC and IQVIA Services Japan LLC) (the "Guarantor subsidiaries" and, together with IQVIA Holdings Inc., the “Guarantors”), have jointly and severally, irrevocably and unconditionally, on a senior secured basis, guaranteed the obligations under the Notes.
The following presents the summarized financial information on a combined basis for IQVIA Holdings Inc. (parent company), IQVIA Inc. (issuer of the guaranteed obligations) and the Guarantor subsidiaries, which are collectively referred to as the “obligated group.”
Each Guarantor subsidiary is consolidated by IQVIA Holdings Inc. as of September 30, 2024 and December 31, 2023. Refer to Exhibit 22.1 to this Quarterly Report on Form 10-Q for the detailed list of entities included within the obligated group as of September 30, 2024.
The guarantee of a Guarantor subsidiary with respect to the Notes will be automatically and unconditionally released and discharged and shall terminate and be of no further force and effect, and no further action by such Guarantor subsidiary, the Issuer, or U.S. Bank Trust Company, National Association, as trustee, be required upon the occurrence of any of the following:
a.any sale, exchange, issuance, disposition or transfer (by merger, amalgamation, consolidation or otherwise) of (i) the capital stock of such Guarantor, after which the applicable Guarantor is no longer a Restricted Subsidiary, or (ii) all or substantially all of the assets of such Guarantor, in each case if such sale, exchange, issuance, disposition or transfer is made in compliance with the applicable provisions of this Indenture;
b.the release or discharge of the guarantee by such Guarantor of indebtedness under the senior secured term loan facilities and the senior secured revolving credit facilities under that certain Fifth Amended and Restated Credit Agreement, or the release or discharge of such other guarantee that resulted in the creation of such Guarantee, except, in each case, a discharge or release by or as a result of payment of such Indebtedness or under such guarantee (it being understood that a release subject to a contingent reinstatement is still a release, and that if any such guarantee is so reinstated, such Guarantee shall also be reinstated to the extent that such Guarantor would then be required to provide a Guarantee pursuant to Section 4.11 of the Indenture);
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c.the designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in compliance with the applicable provisions of the Indenture;
d.the exercise by the Issuer of its Legal Defeasance option or Covenant Defeasance option in accordance with Article VIII of the Indenture or the discharge of the Issuer’s obligations under the Indenture in accordance with the terms of this Indenture;
e.the merger, amalgamation or consolidation of any Guarantor with and into the Issuer or a Guarantor that is the surviving Person in such merger, amalgamation or consolidation, or upon the liquidation of a Guarantor following the transfer of all or substantially all of its assets, in each case in a transaction that complies with the applicable provisions of this Indenture; or
f.as described in Article IX of the Indenture.
Summarized Combined Financial Information of the Issuer and Guarantors:
Each entity in the summarized combined financial information follows the same accounting policies as previously disclosed in Note 1 of the consolidated financial statements of our 2023 Form 10-K. Information for the non-Guarantor subsidiaries has been excluded from the combined summarized financial information of the obligated group. The accompanying summarized combined financial information does not reflect investments of the obligated group in non-Guarantor subsidiaries. The financial information of the obligated group is presented on a combined basis; intercompany balances and transactions within the obligated group have been eliminated. The obligated group’s amounts due from and amounts due to non-Guarantor subsidiaries and related parties have been presented in separate line items.
The following table contains summarized combined financial information from the Statements of Unaudited Condensed Consolidated Financial Position of the obligated group as of:
(in millions)September 30, 2024December 31, 2023
Total current assets (excluding amounts due from subsidiaries that are non-Guarantors)$756 $805 
Total noncurrent assets$10,789 $9,622 
Amounts due from subsidiaries that are non-Guarantors$4,390 $4,762 
Total current liabilities$4,047 $3,471 
Total noncurrent liabilities$11,611 $12,334 
Amounts due to subsidiaries that are non-Guarantors$6,131 $5,556 
The following table contains summarized combined financial information from the Statements of Unaudited Condensed Consolidated Operations of the obligated group:
Nine months endedTwelve months ended
(in millions)September 30, 2024December 31, 2023
Net revenues$4,979 $6,299 
Costs and expenses applicable to net revenues$3,120 $4,190 
Income from operations$897 $912 
Net income $237 $86 
Off-Balance Sheet Arrangements
We do not have any material off-balance sheet arrangements.
Contractual Obligations and Commitments
We have various contractual obligations, which are recorded as liabilities in our consolidated financial statements.
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There have been no material changes, outside of the ordinary course of business, to our contractual obligations as previously disclosed in our 2023 Form 10-K.
Application of Critical Accounting Policies
There have been no material changes to our critical accounting policies as previously disclosed in our 2023 Form 10-K.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
There have been no material changes to our quantitative and qualitative disclosures about market risk as compared to the quantitative and qualitative disclosures about market risk described in our 2023 Form 10-K.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)) under the Securities Exchange Act of 1934, as amended (“Exchange Act”) as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our CEO and CFO have concluded that as of such date, our disclosure controls and procedures were effective.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting identified in management’s evaluation pursuant to Rules 13a-15(d) or 15d-15(d) of the Exchange Act during the period covered by this Quarterly Report on Form 10-Q that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II—OTHER INFORMATION
Item 1. Legal Proceedings
We are party to legal proceedings incidental to our business. While the outcome of these matters could differ from management’s expectations, we do not believe that the resolution of these matters is reasonably likely to have a material adverse effect to our financial statements.
Information pertaining to legal proceedings can be found in Note 8 to the condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q and is incorporated by reference herein.
Item 1A. Risk Factors
For a discussion of the risks relating to our business, see Part I—Item 1A—“Risk Factors” of our 2023 Form 10-K. There have been no material changes from the risk factors previously disclosed in our 2023 Form 10-K.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Recent Sales of Unregistered Securities
Not applicable.
Use of Proceeds from Registered Securities
Not applicable.
Purchases of Equity Securities by the Issuer
On October 30, 2013, our Board of Directors (the "Board") approved an equity repurchase program (the “Repurchase Program”) authorizing the repurchase of up to $125 million of our common stock. The Board increased the stock repurchase authorization under the Repurchase Program with respect to the repurchase of our common stock by $600 million, $1.5 billion, $2.0 billion, $1.5 billion, $2.0 billion, $2.0 billion, and $2.0 billion in 2015, 2016, 2017, 2018, 2019, 2022, and 2023, respectively, which increased the total amount that has been authorized under the Repurchase Program to $11,725 million. The Repurchase Program does not obligate us to repurchase any particular amount of common stock, and it may be modified, extended, suspended or discontinued at any time. The timing and amount of repurchases are determined by our management based on a variety of factors such as the market price of our common stock, our corporate requirements, and overall market conditions. Purchases of our common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or in privately negotiated transactions. The Repurchase Program for common stock does not have an expiration date. In addition, from time to time, we have repurchased and may continue to repurchase common stock through private or other transactions outside of the Repurchase Program.
From inception of the Repurchase Program through September 30, 2024, we have repurchased a total of $9,562 million of our securities under the Repurchase Program.
During the nine months ended September 30, 2024, we repurchased 0.8 million shares of our common stock for $200 million under the Repurchase Program. See Note 9 to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for additional details regarding the Repurchase Program.
As of September 30, 2024, we had remaining authorization to repurchase up to $2,163 million of our common stock under the Repurchase Program.
Since the merger between Quintiles and IMS Health, we have repurchased 79.0 million shares of our common stock at an average market price per share of $116.36 for an aggregate purchase price of $9,188 million both under and outside of the Repurchase Program. This includes shares withheld from employees to satisfy certain tax obligations due in connection with grants of stock under the IQVIA Holdings Inc. 2017 Incentive and Stock Award Plan (the “Plan”). The Plan provides for the withholding of shares to satisfy tax obligations. It does not specify a maximum number of shares that can be withheld for this purpose. The shares of common stock withheld to satisfy tax withholding obligations may be deemed to be “issuer purchases” of shares that are required to be disclosed pursuant to this Item.
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The following table summarizes the monthly equity repurchase program activity for the three months ended September 30, 2024 and the approximate dollar value of shares that may yet be purchased pursuant to the Repurchase Program.
(in millions, except per share data)Total Number of Shares PurchasedAverage Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsApproximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
July 1, 2024 — July 31, 2024— $— — $2,363 
August 1, 2024 — August 31, 2024— $— — $2,363 
September 1, 2024 — September 30, 20240.8 $243.77 0.8 $2,163 
0.8 0.8 
Item 5. Other Information
In the third quarter of 2024, no director or officer (as defined in Exchange Act Rule 16a-1(f)) of IQVIA Holdings Inc. adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement for the purchase or sale of securities of IQVIA Holdings Inc., within the meaning of Item 408 of Regulation S-K.
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Item 6. Exhibits
The exhibits below are filed or furnished as a part of this report and are incorporated herein by reference.
Incorporated by Reference
Exhibit
Number		Exhibit DescriptionFiled
Herewith		FormFile No.ExhibitFiling Date
22.1X
31.1X
31.2X
32.1X
32.2X
101Interactive Data Files Pursuant to Rule 405 of Regulation S-T: (i) Condensed Consolidated Statements of Income (unaudited), (ii) Condensed Consolidated Statements of Comprehensive Income (unaudited), (iii) Condensed Consolidated Balance Sheets (unaudited), (iv) Condensed Consolidated Statements of Cash Flows (unaudited), (v) Condensed Consolidated Statements of Stockholders’ Equity (unaudited) and (vi) Notes to Condensed Consolidated Financial Statements (unaudited). The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.X
104Cover Page Interactive Data File. The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.X

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Quarterly Report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized on October 31, 2024.
IQVIA HOLDINGS INC.
/s/ Ronald E. Bruehlman
Ronald E. Bruehlman
Executive Vice President and Chief Financial Officer
(On behalf of the Registrant and as Principal Financial Officer)

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