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美國
證券交易委員會
華盛頓特區20549
______________________________________________________
表格 10-Q
_________________________________________________________
（標記一）
☒根據1934年證券交易所法第13或第15(d)款的規定，遞交季度報告。
截至季度結束日期的財務報告2024年9月30日
或者
☐根據1934年證券交易協定第13或15（d）節的過渡報告
過渡期從 到 。
委員會備案號碼：001-35907
_________________________________________________________
IQVIA控股有限公司
gzggrtpp0rrl000001.jpg
（註冊人章程中規定的確切名稱）
_________________________________________________________
特拉華州27-1341991
（國家或其他管轄區的
公司成立或組織）		（IRS僱主
（標識號碼）
Ellis路2400號, 達勒姆, 北卡羅來納州 27703
(總部主要辦公地址和郵政編碼)
(919) 998-2000
(註冊人電話號碼，包括區號)
_________________________________________________________
請用複選標記指示：（1）在過去12個月內（或公司被要求提交這些報告的更短期間），公司已按照1934年證券交易法第13或15（d）條的規定提交了所有必須提交的報告；（2）公司在過去90天內一直受到這些報告規定的約束。是 x無¨
請勾選以下內容。申報人是否已在過去12個月內（或申報人需要提交此類文件的時間較短的期間內）逐個以電子方式提交了根據規則405提交的互動數據文件。這章的交易中規定。    是 x無¨
請勾選標記以說明註冊人是大型快速申報人、加速申報人、非加速申報人、較小的報告公司還是新興成長型公司。請查看《交易所法》第120億.2條中「大型快速申報人」、「加速申報人」、「較小的報告公司」和「新興成長型公司」的定義。
大型加速報告人
x
加速文件提交人
☐
非加速文件提交人
☐
較小的報告公司
☐
新興成長公司
☐
如果是新興成長型公司，請通過勾選表示公司選擇放棄使用依據《證券交易法》第13(a)節規定提供的任何新的或修改後的財務會計準則的延長過渡期來符合該規定的計劃。¨
通過勾選表示是否在《交易所法》規則12b-2條所定義的空殼公司。 是☐無x
在法案第12(b)條的規定下注冊的證券：
每種類別的證券
交易代碼
每個交易所的名稱
普通股，每股面值0.01美元
IQV
請使用moomoo賬號登錄查看New York Stock Exchange
請指示每一類普通股的最新實際日期流通股數。
班級
流通股本數
普通股票，每張面值0.01美元
181.5 截至2024年10月24日，流通股數量爲百萬股

目錄
IQVIA控股有限公司
10-Q表格
目錄
項目5。

2
目錄
第一部分——財務信息
項目1.基本報表
愛可視控股公司及其子公司
簡明合併利潤表
(未經審計)
截至9月30日的三個月截至9月30日的九個月
（單位：百萬美元，除每股數據外）2024202320242023
收入$3,896 $3,736 $11,447 $11,116 
營業成本，不包括折舊和攤銷2,518 2,426 7,450 7,267 
銷售，總務及管理費用522 502 1,539 1,497 
折舊和攤銷278 297 811 809 
重組成本28 30 71 67 
營業利潤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)
稅前收入和對非合併聯營公司盈利的權益349 349 1,125 1,086 
所得稅支出65 51 189 203 
對非合併聯營公司盈利前的收入284 298 936 883 
合營企業及聯營企業的權益持有份額收益1 5 — 6 
淨收入$285 $303 $936 $889 
每股普通股盈利
基本$1.57 $1.66 $5.14 $4.82 
稀釋的$1.55 $1.63 $5.08 $4.76 
加權平均流通股數:
基本182.1 182.9 182.1 184.4 
稀釋的184.2 185.5 184.3 186.9 
隨附說明是這些簡明合併財務報表的一部分。
3
目錄
愛可唯控股公司及其子公司
綜合收益簡明合併報表
(未經審計)
截至9月30日的三個月截至9月30日的九個月
（單位百萬）2024202320242023
淨收入$285 $303 $936 $889 
綜合收益調整：
衍生工具未實現損失（收益），扣除所得稅（效益）費用$(14),$—,$2,$11
(41)2 8 34 
定義利益計劃調整，扣除所得稅費用$—, $—,$—,$—
(1)— (1)1 
外幣翻譯，扣除所得稅（效益）費用$(37),$44,$13,$12
173 (136)62 (170)
重新分類調整:
作爲淨利潤中包括的衍生工具再分類，淨稅後收入調整爲$(3),$(3),$(10),$(14)
(8)(9)(28)(41)
綜合收益$408 $160 $977 $713 
隨附說明是這些簡明合併財務報表的一部分。
4
目錄
愛可視控股公司及其子公司
簡明合併資產負債表
(未經審計)
（單位：百萬美元，除每股數據外）2024年9月30日2023年12月31日
資產
流動資產：
現金及現金等價物$1,572 $1,376 
交易應收賬款和未開票服務淨額3,196 3,381 
預付費用195 141 
應收所得稅款項54 32 
債務、股權和其他證券的投資140 120 
其他流動資產和應收款項475 546 
總流動資產5,632 5,596 
資產和設備，淨值513 523 
經營租賃權使用資產259 296 
債務、股權和其他證券的投資117 105 
非控股聯營企業投資203 134 
商譽15,091 14,567 
其他可識別無形資產淨值4,734 4,839 
延遲所得稅164 166 
存款和其他資產淨額467 455 
總資產$27,180 $26,681 
負債和股東權益
流動負債:
應付賬款及應計費用$3,434 $3,564 
未賺收入1,824 1,799 
應付所得稅161 116 
開多次數1,219 718 
其他流動負債354 294 
流動負債合計6,992 6,491 
長期債務，減去當期部分12,293 12,955 
延遲所得稅128 202 
經營租賃負債188 223 
其他負債612 698 
負債合計20,213 20,569 
承諾和不確定事項（注8）
股東權益:
普通股和額外資本公積金， 400.0 2024年9月30日和2023年12月31日授權股份數量，$0.01每股面值，258.1股份發行量爲181.6 2024年9月30日的股份總數； 257.2股份發行量爲181.5 2023年12月31日的股份總數
11,106 11,028 
保留盈餘5,628 4,692 
截至2024年3月31日和2023年12月31日，公司的庫藏股票分別有2,279,784股和2,693,653股。76.5和頁面。75.7 截至2024年9月30日和2023年12月31日，股份分別爲
(8,941)(8,741)
累計其他綜合損失(826)(867)
股東權益總額6,967 6,112 
負債和股東權益總額$27,180 $26,681 
隨附說明是這些簡明合併財務報表的一部分。
5
目錄
愛可唯控股公司及其子公司
現金流量表簡明綜合報表
(未經審計)
截至9月30日的九個月
（單位百萬）20242023
經營活動：
淨收入$936 $889 
調整淨收益以使其與經營活動提供的現金流量相一致：
折舊和攤銷811 809 
債務發行成本和折扣攤銷16 13 
以股票爲基礎的報酬計劃158 172 
未合併附屬公司收益— (6)
投資損益淨額(29)(5)
遞延所得稅收益(114)(117)
經營性資產和負債變動:
應收賬款、未結賬服務和未賺收入的變動259 (241)
其他營運資產和負債的變動(206)(112)
經營活動產生的現金流量淨額1,831 1,402 
投資活動：
收購房地產、設備和軟件(438)(470)
收購企業，扣除現金淨額(649)(869)
可交易證券的購買金額淨額— (4)
投資於非合併聯營企業，淨收款額(68)(16)
投資於債務和股本證券(2)(36)
售出固定資產、設備及軟件的所得款25 — 
其他(2)4 
投資活動產生的淨現金流出(1,134)(1,391)
籌資活動：
發行債務所得款項— 1,250 
支付債務發行成本— (19)
償還債務以及融資租賃本金支付(130)(118)
可轉借款項收益685 2,009 
償還循環授信額度(785)(2,184)
與員工股票激勵計劃相關的支付(61)(58)
回購普通股(200)(763)
待定對價及延期支付購買價格(12)(79)
籌資活動的淨現金流量(使用)/提供的淨現金流量(503)38 
貨幣兌換對現金的影響2 (41)
現金及現金等價物增加196 8 
期初現金及現金等價物餘額1,376 1,216 
期末現金及現金等價物$1,572 $1,224 
隨附附注是這些簡明綜合財務報表的重要組成部分。
6
目錄
iqvia holdings inc.及其附屬公司
股東權益簡明合併財務報表
(未經審核)
(以百萬為單位)普通股股份庫藏股份普通股資本公積金保留收益庫藏股累積其他綜合損益總計
2023年12月31日結餘257.2 (75.7)$3 $11,025 $4,692 $(8,741)$(867)$6,112 
普通股的發行0.7 — — (61)— — — (61)
基於股票的薪酬— — — 49 — — — 49 
凈利潤— — — — 288 — — 288 
衍生工具的未實現收益，扣除稅項— — — — — — 34 34 
外幣翻譯，稅後淨額— — — — — — (69)(69)
重分類調整，扣除稅項— — — — — — (9)(9)
2024年3月31日結存257.9 (75.7)3 11,013 4,980 (8,741)(911)6,344 
普通股的發行0.1 — — 1 — — — 1 
基於股票的薪酬— — — 44 — — — 44 
凈利潤— — — — 363 — — 363 
衍生工具未實現收益，扣除稅項後的淨額— — — — — — 15 15 
外幣翻譯，稅後淨額— — — — — — (42)(42)
重分類調整，扣除稅項後的淨額— — — — — — (11)(11)
2024年6月30日資產負債表258.0 (75.7)3 11,058 5,343 (8,741)(949)6,714 
普通股的發行0.1 — — (1)— — — (1)
回購普通股，扣稅後的凈利潤— (0.8)— — — (200)— (200)
基於股票的薪酬— — — 46 — — — 46 
凈利潤— — — — 285 — — 285 
衍生金融工具的未實現損失，扣稅後的凈利潤— — — — — — (41)(41)
確定福利計劃的調整，扣稅後的凈利潤— — — — — — (1)(1)
外幣翻譯，稅後淨額— — — — — — 173 173 
重分類調整，扣稅後的凈利潤— — — — — — (8)(8)
2024年9月30日餘額258.1 (76.5)$3 $11,103 $5,628 $(8,941)$(826)$6,967 
隨附附注是這些簡明綜合財務報表的重要組成部分。

7
目錄
iqvia holdings inc及其子公司
股東權益簡明合併財務報表
(未經審核)
(以百萬為單位)普通股股份庫藏股份普通股資本公積金保留收益庫藏股累積其他綜合損益總計
2022年12月31日的結存256.4 (70.7)$3 $10,895 $3,334 $(7,740)$(727)$5,765 
普通股的發行0.5 — — (58)— — — (58)
回購普通股— (0.7)— — — (129)— (129)
基於股票的薪酬— — — 69 — — — 69 
凈利潤— — — — 289 — — 289 
衍生工具之未實現利潤，扣稅後— — — — — — 10 10 
定期給付計劃調整，扣稅後— — — — — — 1 1 
外幣翻譯，稅後淨額— — — — — — 10 10 
重新分类调整，净税额— — — — — — (25)(25)
2023年3月31日結餘256.9 (71.4)3 10,906 3,623 (7,869)(731)5,932 
普通股的發行0.1 — — — — — — — 
回购普通股，净税额— (2.5)— — — (495)— (495)
基於股票的薪酬— — — 43 — — — 43 
凈利潤— — — — 297 — — 297 
衍生工具未实现盈利，净税额— — — — — — 22 22 
外幣翻譯，稅後淨額— — — — — — (44)(44)
稅後重分類調整— — — — — — (7)(7)
2023年6月30日結餘257.0 (73.9)3 10,949 3,920 (8,364)(760)5,748 
普通股的發行0.1 — — — — — — — 
購回普通股，稅後— (0.7)— — — (145)— (145)
基於股票的薪酬— — — 42 — — — 42 
凈利潤— — — — 303 — — 303 
衍生工具未實現收益，稅後— — — — — — 2 2 
外幣翻譯，稅後淨額— — — — — — (136)(136)
再分类调整，净利润税后— — — — — — (9)(9)
2023年9月30日的餘額257.1 (74.6)$3 $10,991 $4,223 $(8,509)$(903)$5,805 
隨附附注是這些簡明綜合財務報表的重要組成部分。
8
目錄
iqvia holdings inc. 及其子公司
附註至簡明綜合財務報表
(未經審核)
1. 重要會計政策摘要
這家公司
iqvia holdings inc.（連同其子公司，以下簡稱“公司”或“IQVIA”）是全球領先的臨床研究服務、商業洞察及醫療保健資訊提供商，服務於生命科學及醫療保健行業。大約有 88,000 名員工，該公司在超過 100 個國家進行業務。
未經審計的中期財務資訊
公司附帶的未經審計的簡明合併 基本報表 已根據美國普遍接受的會計原則（「GAAP」）針對中期財務信息編制。因此，它們不包括 GAAP 對完整 基本報表 所需的所有信息和附註。管理層認爲，所有被認爲對於公正陳述公司財務狀況和經營成果所需的調整（包括正常的經常性調整）均已包含在內。所呈現期間的運營結果並不一定代表截至 2024 年 12 月 31 日的預期結果。因此，本季度報告（表格 10-Q）中的信息應與公司在截至 2023 年 12 月 31 日的財年中包含在公司年度報告（表格 10-K）中的經審計合併 基本報表 一起閱讀。截止至 2023 年 12 月 31 日的資產負債表已從公司的經審計合併 基本報表 中獲得，但未包括 GAAP 所要求的所有披露。
最近發佈的會計準則
截至2024年9月30日，已發佈但尚未採納的會計公告
在2023年11月，財務會計準則委員會（"FASB"）發佈了會計準則更新（"ASU"）2023-07， segment reporting (主題 280): 可報告分部披露的改進以改善可報告部門的披露要求。新的指引要求披露定期提供給首席運營決策者的重要部門費用，並且包括在報告的部門利潤或虧損的計算中。它並不改變部門的定義或確定可報告部門的指引。新的指引將於2024年1月1日起在公司的年度期間生效，2025年適用於中期期間。採納此ASU將導致額外的披露，但不會影響公司的合併財務狀況、經營業績或現金流。
在2023年12月，FASB發佈了ASU 2023-09， 所得稅（主題740）：所得稅披露的改進, 爲了增強所得稅披露的透明度和決策實用性。該ASU中的修訂要求對所得稅進行額外披露，主要集中在已支付所得稅的披露和稅率調解表上。新的指導將在2025年1月1日開始的年度期間對公司生效。公司正在評估該ASU對合並基本報表中披露的影響。
9
目錄
2. 按地區劃分的收入、信用風險集中度和剩餘履約義務
以下表格展示了截至2024年和2023年9月30日的三個月和九個月的地域板塊和可報告細分的收入：
截至2024年9月30日的三個月
(單位：百萬)科技與分析解決方案研究與開發解決方案合同銷售與醫療解決方案總計
營業收入：
美洲$797 $969 $72 $1,838 
歐洲和非洲626 607 54 1,287 
亞洲-太平洋地區131 586 54 771 
營業收入總額$1,554 $2,162 $180 $3,896 
截至2023年9月30日的三個月
(單位：百萬)科技與分析解決方案研究與開發解決方案合同銷售與醫療解決方案總計
營業收入：
美洲$761 $1,017 $78 $1,856 
歐洲和非洲519 520 50 1,089 
亞洲-太平洋地區151 585 55 791 
營業收入總額$1,431 $2,122 $183 $3,736 
截至2024年9月的九個月
(單位：百萬)科技與分析解決方案研發解決方案合同銷售與醫療解決方案總計
營業收入：
美洲$2,323 $2,969 $211 $5,503 
歐洲和非洲1,757 1,699 166 3,622 
亞洲-太平洋地區422 1,736 164 2,322 
營業收入總額$4,502 $6,404 $541 $11,447 
截至2023年9月30日的九個月
(單位：百萬)科技和分析解決方案研究和開發解決方案合同銷售和醫療解決方案總計
營業收入：
美洲$2,268 $2,982 $228 $5,478 
歐洲和非洲1,606 1,547 146 3,299 
亞洲-太平洋地區457 1,715 167 2,339 
營業收入總額$4,331 $6,244 $541 $11,116 
否 在截至2024年或2023年9月30日的三個月和九個月期間，單個客戶佔合併收入的10%或更多。
10
目錄
分配給剩餘履約義務的交易價格
截至2024年9月30日，預計將有約$33.3 十億美元的收入將在未來從剩餘的履約義務中確認。公司預計將在接下來的 30%的剩餘履約義務中確認收入，持續時間爲 作爲收入確認，時間跨度爲十二個月，在接下來的 85%的履約義務中確認收入，持續五年，餘額將在此後確認。公司剩餘的履約義務中，大部分預計將在未來十二個月之外確認的收入，來自於公司研究與開發解決方案部門的臨床研究服務合同。分配給剩餘履約義務的客戶合同交易價格與待處理訂單不同，因爲它不包括客戶有單方權利取消安排的完全未履行的合同。.
3. 交易應收賬款、未開票服務和未賺取收入
交易應收賬款和未開票服務包括以下內容：
(單位：百萬)2024年9月30日2023年12月31日
應收賬款$1,176 $1,473 
未開票服務2,061 1,942 
交易應收賬款和未開票服務3,237 3,415 
壞賬準備(41)(34)
交易應收賬款和未開票服務淨額$3,196 $3,381 
未計費的服務和未實現的收入如下：
(單位：百萬)2024年9月30日2023年12月31日
變更
未計費的服務$2,061 $1,942 $119 
未賺取的收入(1,824)(1,799)(25)
淨餘額$237 $143 $94 
應收賬款未開票服務的大約 67% 68% 的未開票應收款和 33% 32% 的合同資產截止到2024年9月30日和2023年12月31日，分別增加了 $119 百萬，相較於2023年12月31日。合同資產是根據與臨床研究相關的服務合同某些里程碑的時間而開票的未開票服務，而未開票應收款則是在時間推移後可開票的收入。未賺取的收入在同一時期內增加了 $25 百萬，導致2024年9月30日和2023年12月31日之間未開票服務和未賺取的收入淨餘額增加了 $94 百萬。淨餘額的變化是由於根據會計標準編碼（"ASC"）606的收入確認時機差異所致。 來自客戶合同的營業收入主要與公司的研發解決方案合同（根據發生的成本百分比）有關，而發票的時間則基於某些里程碑。
截至2024年12月31日，年初的大部分未賺取收入餘額預計將在本年度內確認收入。
截至2024年9月30日和2023年9月30日，對公司交易應收賬款確認的壞賬費用在三個月和九個月內是微不足道的。
應收賬款保理安排
公司有應收賬款保理協議，以向無關的第三方金融機構出售某些合格的無擔保貿易應收賬款，交易可以基於自動安排或由公司選擇進行，無追索權，換取現金。在截至2024年9月30日的九個月中，通過公司最常用的應收賬款保理安排，公司以無追索權的方式保理了大約$531 百萬的客戶發票，並從銷售中獲得了大約$520 百萬的現金收入。與這些交易相關的費用是微不足道的。公司還有其他應收賬款安排，但相關活動不重要。
11
目錄
4. 商譽
以下是截至2024年9月30日的可報告分部的商譽彙總：
(單位：百萬)科技與分析解決方案研發解決方案合同銷售與醫療解決方案合併
截至2023年12月31日的餘額$11,976 $2,439 $152 $14,567 
業務組合289 181 — 470 
外幣波動和其他的影響49 5 — 54 
截至2024年9月30日的餘額$12,314 $2,625 $152 $15,091 
5. 衍生品
公司的衍生工具的公允價值以及與其記錄在一起的簡明合併資產負債表上的項目總結如下表所示：
(單位：百萬)資產負債表分類2024年9月30日2023年12月31日
資產負債名義資產負債名義
被指定爲對沖工具的衍生品：
利率互換其他流動資產、其他資產和其他流動負債$— $70 $2,489 $13 $51 $3,300 
貨幣互換 其他流動負債 — 102 2,739 — 108 2,750 
匯率期貨合約其他流動資產和其他流動負債6 — 118 2 — 121 
衍生工具總計$6 $172 $15 $159 
公司的現金流對沖工具在稅前對其他綜合收益的影響總結在以下表格中：
截至9月30日的三個月截至9月30日的九個月
(單位：百萬)2024202320242023
利率互換$(70)$(1)$(32)$(6)
匯率期貨合約4 (9)4 (4)
總計$(66)$(10)$(28)$(10)
公司預計截至2024年9月30日，與匯率期貨和利率衍生品相關的約$21 百萬的稅前未實現收益將被重新分類到未來十二個月內的收益中。截至2024年和2023年9月30日的三個月和九個月，伴隨的合併利潤表中，現金流套期保值效果的總金額（扣除所得稅）爲$8百萬和$9百萬，以及$28百萬和$41百萬，分別爲。
截至2024年9月30日，該公司的跨貨幣互換被指定爲對沖其對某些外國子公司的淨投資。在截至2024年9月30日的三個月和九個月中，公司記錄了美元 (101) 百萬美元損失和 $6 由於這些跨貨幣互換，AOCI內部分別獲得了100萬美元的收益。該公司確認了大約 $8 百萬和美元26 百萬美元與排除部分有關，分別是截至2024年9月30日的三個月和九個月的利息支出減少額。
12
目錄
截至2024年9月30日，公司外幣計價債務餘額（扣除原始發行折扣）的部分作爲對其在某些外國子公司的淨投資對沖，總計爲€2,564 百萬（$2,862 百萬）。與淨投資對沖相關的匯率期貨（損失）收益在截至2024年和2023年9月30日的三個月和九個月的累計翻譯調整組件中爲$(114)百萬，$(26)百萬，$161 百萬，以及$69百萬，分別爲。
6. 公允價值測量
公司將某些資產和負債以公允價值進行記錄。公允價值定義爲在計量日期，市場參與者之間有序交易中，爲資產出售所能收到的價格或爲轉移負債所支付的價格，這一價格應在資產或負債的主要市場或最有利市場中確定。下面描述了一個三層公允價值層級，優先考慮用於測量公允價值的輸入。這一層級要求實體最大限度地使用可觀察輸入，最小化使用不可觀察輸入。用於測量公允價值的三層輸入如下：
•第一級 — 以活躍市場中相同資產或負債的報價爲基礎。
•第二級——可觀察的輸入，除了第一級中的報價價格外，包括在活躍市場中的類似資產和負債的報價價格；在非活躍市場中相同或類似資產和負債的報價價格；或其他可觀察的輸入，或者可以通過可觀察的市場數據進行確認。
•第三級——依賴於很少或沒有市場活動的不可觀察輸入。這包括某些定價模型、折現現金流方法和類似技術，這些方法使用了大量不可觀察的輸入。
截至2024年9月30日和2023年12月31日，現金、現金等價物、應收賬款和應付賬款的賬面價值因其開空性質而接近其公允價值。截至2024年9月30日和2023年12月31日，所有債務的公允價值爲$13,547 百萬和$13,597 百萬，分別是根據這些金融工具的二級計量確定的。
重複公允價值計量
以下表格總結了截至2024年9月30日，公司按公允價值持續計量和報告的金融資產和負債的公允價值：
(單位：百萬)一級二級第三級總計
資產:
可售證券$173 $— $— $173 
衍生品— 6 — 6 
總計$173 $6 $— $179 
負債：
衍生品$— $172 $— $172 
或有對價— — 94 94 
總計$— $172 $94 $266 
13
目錄
下表總結了截至2023年12月31日，公司按公允價值反覆計量和報告的金融資產和負債的公允價值：
(單位：百萬)一級二級第三級總計
資產:
可售證券$146 $— $— $146 
衍生品— 15 — 15 
總計$146 $15 $— $161 
負債：
衍生品$— $159 $— $159 
或有對價— — 106 106 
總計$— $159 $106 $265 
以下是用於確定公允價值的估值技術的總結：
可交易證券 — 本公司根據所持證券的報價市場價值來評估交易證券和可供出售證券的價值。
衍生品 — 衍生品包括外匯合約、利率互換和跨幣種互換。外匯合約的公允價值基於可觀察的市場輸入，即現貨和遠期匯率，或使用其他可觀察的輸入。利率互換的公允價值是公司爲了終止這些協議而可能收到或支付的估計金額，考慮到市場利率與剩餘的到期時間，或使用市場輸入的中間市場定價作爲買賣差價的一個實用方法。跨幣種互換的公允價值是公司爲了終止這些協議而可能收到或支付的估計金額，考慮到有效利率、匯率和剩餘的到期時間。
或有對價 公司採用加權概率計算方法評估與業務組合相關的或有對價，考慮潛在支付場景，並按反映預期未來現金流風險的利率折現。用於估計或有對價公允價值的假設包括各種財務指標（收入績效目標和運營預測）以及實現具體目標的概率。根據對實現具體目標概率的評估，截至2024年9月30日，公司已計提約 29%的最高或有對價支付款項，這些款項可能會變得應付。
下表總結了截至2024年9月30日的九個月內按重複計量的3級金融資產和負債的變化：
(單位：百萬)或有對價
截至2023年12月31日的餘額$106 
業務組合55 
支付的或有對價(10)
計入收益的重估和外幣換算調整(57)
截至2024年9月30日的餘額$94 
當前部分的或有對價包含在應計費用中，而長期部分包含在其他負債中，具體如下所示的簡明合併資產負債表。 或有對價的重估列入附帶的簡明合併損益表中的其他費用（收入），淨額。重要不可觀察輸入的變化可能導致或有對價的公允價值測量更高或更低。
非經常性公允價值測量
截至2024年9月30日，資產在資產負債表上列示且未按公允價值定期重新計量的總額爲$20,112百萬，並被識別爲第3級。這些資產包括債務投資以及成本和權益法投資的$287百萬，商譽爲$15,091 百萬和其他可識別的無形資產，淨額爲$4,734 百萬的所得稅收益。
14
目錄
7. 信用安排
以下是截至2024年9月30日公司的循環信貸額度的摘要：
設施
利率期貨。
$2,000 百萬（循環信貸額度）
美元期限SOFR加上 1.25% 10 點子信貸利差調整截至2024年9月30日
$110 百萬（應收賬款融資額度）
美國美元期限SOFR加上一個邊際值的 0.90%加上一個 11 點子信用利差調整截至2024年9月30日
以下表格總結了公司在指定日期的債務情況：
(以百萬計的美元)2024年9月30日2023年12月31日
2026年到期的循環信貸額度：
以美元計價的借款—美國美元SOFR，平均浮動利率爲 —%
$— $100 
高級擔保信貸設施：
2026年到期的A類貸款—美國美元SOFR，平均浮動利率爲 6.20%
1,216 1,270 
A類貸款到期日爲2026年——歐元指數在平均浮動利率下爲 4.60%
296 306 
A類貸款到期日爲2027年——美元期限SOFR在平均浮動利率下爲 6.41%
1,109 1,156 
B類貸款到期日爲2025年——歐元指數在平均浮動利率下爲 5.35%
583 576 
B類貸款到期日爲2031年——美元期限SOFR在平均浮動利率下爲 6.60%
1,489 1,500 
5.700%高級擔保票據到期日爲2028年——以美元計
750 750 
6.250%高級擔保票據到期日爲2029年——以美元計
1,250 1,250 
5.0%高級票據到期日爲2027年——以美元計
1,100 1,100 
5.0%高級票據到期日爲2026年——以美元計
1,050 1,050 
6.500% 優先票據到期於2030年—以美元計價
500 500 
2.875% 優先票據到期於2025年—歐元指數計價
469 464 
2.25% 優先票據到期於2028年—歐元指數計價
804 795 
2.875% 優先票據到期於2028年—歐元指數計價
793 785 
1.750% 優先票據到期於2026年—歐元指數計價
614 607 
2.250% 優先票據到期於2029年—歐元指數計價
1,005 993 
應收賬款融資工具到期於2027年—以美元計價的SOFR浮動利率的平均值爲 6.22%:
循環貸款承諾110 110 
定期貸款440 440 
債務的本金金額13,578 13,752 
減：未攤銷的折扣和債務發行成本(66)(79)
減去：當前部分(1,219)(718)
長期債務$12,293 $12,955 
15
目錄
截至2024年9月30日的長期債務約定到期情況如下：
(單位：百萬)
2024年剩餘時間$42 
20251,219 
20263,141 
20272,634 
20282,362 
之後4,180 
$13,578 
高級擔保信貸設施
截至2024年9月30日，公司的第五修訂和重述信貸協議通過多個高級擔保信貸設施提供高達$6,688 百萬，這包括$4,693 百萬的債務餘額（如上表所述），以及$1,995 百萬的可用借款容量，來自於$2,000 百萬的循環信貸設施和備用信用證。該循環信貸設施包括一個$1,175 百萬的高級擔保循環信貸設施，支持以美元進行借款，一個$600 百萬的高級擔保循環信貸設施，支持以美元、歐元、瑞士法郎和其他外幣進行借款，以及一個$225 百萬的高級擔保循環信貸設施，支持以美元和日元進行借款。
應收賬款融資工具
2024年10月1日，公司修訂了應收賬款融資額度，將5.5億美元融資的期限延長至2027年10月1日。根據應收賬款融資機制，公司的某些應收賬款由其某些合併子公司（均爲 「發起人」）在無追索權的基礎上出售給其另一家合併子公司，即破產遠程特殊目的實體（「SPE」）。SPE從第三方貸款人那裏獲得了以SPE資產留置權爲擔保的定期貸款和循環貸款承諾，爲購買包括美元在內的應收賬款融資440百萬定期貸款和一美元110百萬循環貸款承諾。截至2024年9月30日，應收賬款融資機制下沒有額外數額的循環貸款。
限制性條款
公司的債務協議提供了與類似工具慣例相符的某些契約和違約事件，包括不超過規定的綜合高級擔保淨負債與綜合EBITDA的比率的契約，以及保持規定的最低利息保障比率的契約。如果在公司或公司的子公司的融資安排下發生違約事件，則該融資安排下的債權人有權採取各種行動，包括加速到期金額的支付，在循環信貸融資和定期貸款的情況下，則可以採取擔保債權人允許採取的其他行動。公司的長期債務安排包含其他通常和慣例的限制性契約，其中包括對公司宣告分紅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資安排下的財務契約。.
8. 應急措施
公司及其子公司參與普通業務過程中產生的法律和稅務程序、索賠以及訴訟。管理層定期根據可用的最新信息評估公司的負債和或有事項。對於管理層目前認爲公司可能會遭受損失且該損失的可能性或範圍可以合理估計的事項，公司已根據其對該損失的最佳估計在合併基本報表中記錄了一項預提。對於其他情況，由於與可能結果或損失金額或範圍相關的不確定性，管理層無法對負債（如有）做出合理估計。
然而，即使在許多情況下，公司已經記錄了預計的責任，但公司無法確定地預測該事項的最終結果或該事項的解決是否會對公司的運營結果、財務狀況或現金流產生重大影響。隨着更多信息的獲取，公司會相應地調整其對這些責任的評估和估計。
16
目錄
公司在正常的業務過程中，通常與第三方（包括客戶和供應商）簽訂協議。在這些協議中，公司有時同意爲其他方可能因潛在的知識產權侵權和其他索賠而遭受的任何損害進行賠償並保護其免受損害。對於這些事項，公司一般沒有計提負債，因爲其風險被認爲是遠程的。
根據對最新可用信息的審查，管理層不認爲待解決的法律和稅務程序、索賠和訴訟，無論是單獨還是合計，都會對公司的經營成果、現金流或財務狀況產生重大不利影響。 但是，對公司的任何索賠或訴訟中可能出現的一項或多項不利結果，可能會對其解決時期產生重大不利影響。以下是涉及公司的某些法律事務的摘要。
2014年2月13日，約有1200名醫療醫生和900名私人個人向首爾中央地方法院提起了一項民事訴訟，控告IMS韓國及其他兩名被告，即韓國藥品協會（「KPA」）和韓國藥品信息中心（「KPIC」）。該民事訴訟指控KPA和KPIC通過安裝在韓國藥房計算機系統上的軟件系統違反適用的隱私法收集了他們的個人信息，並在未獲得必要的同意的情況下將個人信息轉移給IMS韓國，並出售給製藥公司。2017年9月11日，地區法院作出最終裁決，認爲自2014年6月起被告使用的加密措施足以滿足韓國個人信息保護法（「PIPA」）的要求，並且根據PIPA，出於市場研究目的共享非識別性信息是被允許的。地區法院還發現早期版本的加密不足以滿足PIPA要求，但沒有個人數據被泄露或重新識別。地區法院未向原告授予任何損害賠償。約280名醫療醫生和200名私人個人對地區法院的裁決提出上訴。2019年5月3日，上訴法院作出最終裁決，認爲KPIC轉移給IMS韓國用於市場研究目的的所有非識別性信息違反了PIPA，但未向原告授予任何損害賠償（確認了地區法院在這一點上的裁決）。2019年5月24日，約247名原告向最高法院上訴。2024年7月11日，最高法院駁回了原告的上訴。最高法院支持IMS韓國的裁決是最終的和具有決定性的。
2015年7月23日，韓國首爾中央地區檢察院對24名個人和公司發出了起訴，指控他們在不當處理敏感健康信息方面違反了，包括韓國的個人信息保護法(PIPA)。IMS Korea及其兩名員工是被起訴的個人和組織之一。儘管沒有證據表明IMS Korea在其任何產品中使用了患者的個人健康信息，但檢察官聲稱IMS Korea的某些數據供應商在將敏感患者信息轉換爲非識別數據時應當獲得患者同意，而IMS Korea並未採取足夠的預防措施以降低重新識別的風險。2020年2月14日，首爾中央地區法院宣判IMS Korea及其兩名員工在不當處理敏感健康信息的指控上無罪，檢察院提起了上訴。2021年12月23日，上訴法院確認了首爾中央地區法院的判決。檢察院向最高法院提出上訴。2024年7月11日，最高法院駁回了檢察院的上訴。最高法院支持IMS Korea的裁決是終局和權威的。
2017年1月10日，昆泰IMS Health Incorporated和IMS軟件服務有限公司（統稱 「IQVIA雙方」）在美國新澤西特區地方法院對Veeva Systems, Inc.（「Veeva」）提起訴訟，指控Veeva非法使用IQVIA締約方的知識產權來改善Veeva數據產品，推廣和營銷Veeva數據產品以及改善Veeva技術產品。IQVIA各方尋求禁令救濟，任命監督員，給予補償性和懲罰性賠償，並報銷所有訴訟費用，包括合理的律師費和費用。2017年3月13日，Veeva提出反訴，指控反競爭商業行爲違反了《謝爾曼法案》和州法律。Veeva要求賠償金額超過美元200 百萬，並正在尋求懲罰性賠償和訴訟費用，包括律師費。該公司認爲反訴毫無根據，駁回了Veeva提出的所有反訴，並打算大力捍衛IQVIA各方的立場並對Veeva提出索賠。自首次提交申請以來，雙方相互提起了更多訴訟，主要涉及將IQVIA數據與其他各種Veeva產品一起使用。試驗定於2025年初進行。
2021年5月7日，法院發佈了一項命令和意見（以下簡稱「訂單」），其中發現了大量證據表明Veeva (1) 挪用了IQVIA的數據並非法使用這些數據來改善Veeva的數據產品，(2) 通過刪除其盜竊IQVIA商業祕密的重要證據進行掩蓋，(3) 在進一步犯罪和/或對IQVIA的欺詐中不當保留某些特權證據。法院對Veeva施加了五項制裁，包括命令向陪審團出示三項相應的推論指示，並允許IQVIA向陪審團提供關於Veeva銷燬證據的努力的證據。Veeva對該訂單提出了上訴。2024年3月30日，法院駁回了Veeva關於其被拒絕的特權主張的上訴，同時保留對適當制裁的裁定以便於日後決定。
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目錄
9. 股東權益
優先股
公司獲准發行 1.0 百萬優先股，$0.01 每股面值。 否 截至2024年9月30日或2023年12月31日，共發行或流通優先股。
股權回購計劃
截至2024年9月30日，公司的股權回購計劃（"回購計劃"）下的總股票回購授權爲$11,725 百萬。回購計劃並不要求公司回購任何特定數量的普通股，並且可以在任何時間進行修改、延長、暫停或停止。截止2024年9月30日的九個月內，公司回購了 0.8 百萬股其普通股，花費了$200百萬。截止2024年9月30日，公司還有剩餘授權可以回購最多$2,163 百萬的普通股。在此之外，公司不時回購，並可能繼續通過私人或其他交易回購普通股，超出回購計劃。
10. 商業組合
公司在截至2024年9月30日的九個月內完成了幾項單獨的非重要收購。公司對公允價值的評估，包括某些識別的無形資產的估值，以及與這些收購相關的購買價格分配，都是初步的，並且在完成時可能會有所變動。隨着對收購資產和承擔負債的公允價值相關額外信息的評估，可能需要進一步調整，這些調整主要與收購的無形資產及相關遞延稅款有關。公司記錄了這些收購產生的商譽，主要與組建的勞動力、預期的協同效應和新客戶關係有關。經過濃縮的合併基本報表包括收購後各自完成日期的結果。未提供臨時信息，因爲臨時的運營結果與公司的實際運營結果不會有重大區別。
下表提供了這些收購的某些初步財務信息：
(單位：百萬)2024年9月30日
獲得的資產:
現金及現金等價物$23 
應收賬款 49 
其他資產51 
商譽470 
其他可識別無形資產266 
假定的負債:
其他負債(88)
遞延所得稅，長期(37)
淨資產收購 (1)
$734 
(1) 收購的淨資產包括或有對價和延期購買價格爲 $62 百萬的所得稅收益。
用於所得稅目的的可扣除商譽部分初步評估爲$297 百萬的所得稅收益。
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目錄
下表提供了對所收購某些無形資產初步估計公允價值的總結：
(單位：百萬)攤銷期2024年9月30日
其他可識別的無形資產：
客戶關係10-16年$222 
訂單積壓1-4年27 
商標名稱5年6 
軟件和相關資產3-5年6 
不競爭協議3-5年3 
數據庫5年2 
其他可識別的無形資產總額$266 
11. 重組
公司在2024年繼續採取重組措施，以調整資源並減少產能過剩，以適應不斷變化的市場條件並整合收購。這些措施包括整合職能活動、 eliminating 重複職位，以及根據客戶需求調整資源。這些重組措施預計將在2024年及2025年持續進行。
以下金額是爲重組計劃記錄的：
(單位：百萬)遣散費及相關費用
截至2023年12月31日的餘額$36 
費用，扣除反轉後的金額71 
付款(62)
外幣翻譯及其他1 
截至2024年9月30日的餘額$46 
這些反轉是由於估計的變化，主要是由於員工重部署和高於預期的自願離職造成的。重組成本不分配給公司的可報告部門，因爲它們不是管理層定期審查的部門績效衡量標準的一部分。公司預計截至2024年9月30日的大部分重組應計費用將在2024年和2025年支付。
12. Income Taxes
公司的有效所得稅率爲 18.6% 14.62024年和2023年第三季度爲% ，2024年和2023年前九個月分別爲16.8%和18.7%。2024年第三季度和前九個月的有效所得稅率受到美國和外國稅收管轄區之間收益地理組合變化的有利影響。2023年第三季度和前九個月的有效所得稅率因稅收抵免結轉的不確定稅務狀況的逆轉而受到有利影響，金額爲2100萬美元。2024年和2023年第三季度以及前九個月的有效所得稅率也因在結算基於股份的補償獎勵時確認的超額稅收利益而受到有利影響。對於2024年和2023年第三季度，這一影響爲$2百萬，而對於2024年和2023年前九個月，這一影響爲$14百萬和$12百萬，分別爲。
多個外國法域已同意實施經濟合作與發展組織（「OECD」）的第二支柱全球企業最低稅率，爲15%，適用於收入至少爲75000萬歐元的公司，該稅率將於2024年生效。公司已持續評估這一影響，直到2024年第三季度末，並不預計2024年會有任何重大影響。公司將在未來的時期繼續監控，因爲其他法域也將制定第二支柱立法。
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目錄
13. 其他綜合收益（虧損）累計額
以下是其他綜合收益（AOCI）元件的總結：
(單位：百萬)外幣翻譯衍生工具定義福利計劃所得稅總計
截至2023年12月31日的餘額$(969)$(34)$3 $133 $(867)
重新分類之前的其他全面收益（損失）75 10 (1)(15)69 
重新分類的調整— (38)— 10 (28)
截至2024年9月30日的餘額$(894)$(62)$2 $128 $(826)
以下是從其他綜合收益重新分類到簡明合併損益表的調整摘要，以及受影響的財務報表項目：
(單位：百萬)受影響的財務報表項目截至9月30日的三個月截至9月30日的九個月
2024202320242023
衍生工具：
利率互換利息支出$8 $17 $38 $35 
匯率期貨合約營業收入3 (5)— 20 
稅前總額11 12 38 55 
所得稅3 3 10 14 
稅後總額$8 $9 $28 $41 
14. 細分市場
下表展示了公司的按可報告部門劃分的運營情況。公司通過 三 可報告部門，科技與分析解決方案、研究與開發解決方案以及合同銷售與醫療解決方案進行管理。科技與分析解決方案爲公司的生命科學客戶提供關鍵任務信息、科技解決方案和現實世界洞察與服務。研究與開發解決方案主要服務於生物製藥客戶，提供外包的臨床研究和臨床試驗相關服務。合同銷售與醫療解決方案爲生物製藥客戶和更廣泛的醫療保健市場提供醫療保健提供者（包括合同銷售）和患者參與服務。
某些費用未分配到我們的各個部門，而是作爲一般企業和未分配費用報告。這些費用主要包括基於股份的薪酬以及與整合活動和收購相關的費用。公司也不將重組費用、折舊和攤銷費用或任何減值費用分配給各個部門。 各部門的資產信息未被呈現，因爲這一指標並未被首席運營決策者用來評估公司的表現。公司的報告性部門信息如下所示：
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目錄
截至9月30日的三個月截至9月30日的九個月
(單位：百萬)2024202320242023
營業收入
科技與分析解決方案$1,554 $1,431 $4,502 $4,331 
研究與開發解決方案2,162 2,122 6,404 6,244 
合同銷售與醫療解決方案180 183 541 541 
營業收入總額3,896 3,736 11,447 11,116 
不包括折舊和攤銷的收入成本
科技與分析解決方案922 859 2,720 2,593 
研究與開發解決方案1,442 1,410 4,268 4,213 
合同銷售與醫療解決方案154 157 462 461 
不包括折舊和攤銷的總收入成本2,518 2,426 7,450 7,267 
銷售、一般和管理費用
科技與分析解決方案227 217 681 652 
研究與開發解決方案222 217 666 640 
合同銷售與醫療解決方案14 14 45 43 
一般企業和未分配59 54 147 162 
銷售、一般和行政總費用522 502 1,539 1,497 
細分利潤
科技與分析解決方案405 355 1,101 1,086 
研究與開發解決方案498 495 1,470 1,391 
合同銷售與醫療解決方案12 12 34 37 
總細分利潤915 862 2,605 2,514 
一般公司和未分配(59)(54)(147)(162)
折舊和攤銷(278)(297)(811)(809)
重組費用(28)(30)(71)(67)
來自運營的總收入$550 $481 $1,576 $1,476 
15. 每股收益
下表展示了基本每股收益和稀釋每股收益的計算：
截至9月30日的三個月截至9月30日的九個月
(以百萬爲單位，除每股數據外)2024202320242023
分子:
淨利潤$285 $303 $936 $889 
分母:
基本加權平均流通股數182.1 182.9 182.1 184.4 
稀釋性期權和分享獎勵的影響2.1 2.6 2.2 2.5 
稀釋後加權平均流通股數184.2 185.5 184.3 186.9 
歸屬於普通股東的每股收益：
基本$1.57 $1.66 $5.14 $4.82 
稀釋$1.55 $1.63 $5.08 $4.76 
以國庫法計算時，股票獎勵在各期內的公司普通股每股平均市場價值超過行使收益時，將會產生稀釋效應。業績獎勵根據報告期末業績目標是否達到來計算稀釋每股收益。
21
目錄
截至2024年和2023年9月30日的三個月和九個月，未計入稀釋每股收益計算中的股票獎勵的加權平均數量，因爲它們受到在報告期末未滿足的業績條件的限制，或者包含這些股票獎勵在計算中會導致反稀釋，數量爲 1.0 百萬 0.9 百萬， 1.0 百萬 1.0 百萬，分別爲。
22
目錄
項目2. 管理層的討論與分析財務控件和運營結果
前瞻性信息的警示聲明
您應該將以下關於我們財務控件和運營結果的討論與我們在本季度報告10-Q表格中包含的簡明合併基本報表及相關附註，以及我們在截至2023年12月31日的財政年度的年度報告10-K表格中包含的審計合併基本報表及其附註一起閱讀（我們的「2023年表10-K」）。
除了歷史綜合財務信息外，以下討論包含或引用了根據聯邦證券法律的定義的前瞻性陳述，包括1933年《證券法》第27A條修訂（「證券法」）和1934年《證券交易法》第21E條修訂（「交易法」），這些陳述不是歷史事實，而是反映了我們的當前期望、預測和預期的運營結果，這些都受到已知和未知的風險、不確定性和其他因素的影響，這些因素可能導致我們的實際結果、表現或成就、市場趨勢或行業結果與這些前瞻性陳述所表達或暗示的有重大差異。因此，本文中包含的任何非歷史事實的陳述都可能是前瞻性陳述，應被視爲此類陳述進行評估。 「假設」、「預期」、「相信」、「估計」、「希望」、「打算」、「可能」、「預測」、「計劃」、「項目」、「應該」、「尋求」、「看到」、「目標」、「將會」、「會」等類似詞語和表達，以及這些詞的變體和否定形式，旨在識別前瞻性陳述，儘管並非所有前瞻性陳述都包含這些識別詞。我們不承擔更新任何此類前瞻性信息的義務，以反映實際結果或影響此類前瞻性信息的因素的變化。
我們提醒您，任何此類前瞻性陳述均受到重要因素的進一步限制，可能導致我們的實際運營結果與前瞻性陳述中的結果存在重大差異，包括但不限於，因自然災害、如COVID-19（冠狀病毒）疫情爆發（包括任何變種）造成的業務中斷，以及對疫情的公共衛生政策響應，以及國際衝突或我們無法控制的其他中斷，例如當前在烏克蘭和俄羅斯的情況；我們的絕大多數合同可能會被短期終止，我們可能會失去或與大型客戶合同的簽署延遲，或無法簽訂新合同；我們服務的市場可能不會如我們預期那樣增長；我們可能無法成功開發和營銷新服務或進入新市場；數據供應商對我們使用數據的限制或他們拒絕許可數據給我們的情況；我們任何未能遵守合同、監管或倫理要求，包括當前或未來的數據保護和隱私法律的變化；我們或外包合作伙伴的安全或通信系統的違規或濫用；未能實現我們的生產力或業務轉型目標；未能成功投資於增長機會；我們保護知識產權的能力以及我們面臨的他人聲稱我們侵犯其知識產權的索賠的敏感性；無法獲得第三方技術或知識產權的許可或其到期；我們未能準確及時地爲合同定價和制定成本估算，或未能記錄變更單；硬件和軟件故障，計算機和通信系統的運行延遲或未能實施系統增強；我們的積壓訂單轉化爲收入的速度；我們獲取、開發和實施我們業務所需技術的能力；我們客戶所面臨行業的整合；與客戶或治療集中相關的風險；政府監管機構或我們的客戶可能會限制藥物和治療的適應症數量或範圍，或從市場上撤回產品，政府監管機構可能會強制實施新的監管要求或可能制定影響生物製藥行業的新法規；在全球範圍內運營相關的風險，包括貨幣或交易所匯率波動和法律合規，包括反腐敗法律；與會計標準變化相關的風險；我們運營市場的一般經濟狀況，包括金融市場狀況、通貨膨脹以及與向政府實體銷售相關的風險；稅法和法規變化的影響；以及我們成功整合所收購企業並實現預期收益的能力。有關與我們業務相關風險的進一步討論，請參見我們2023年表10-K的第一部分-第1A項-「風險因素」，以及我們隨後提交的表10-Q季報中的更新。
概述
IQVIA是一家領先的全球臨床研究服務、商業洞察和醫療情報提供商，服務於生命科學和醫療行業。IQVIA的解決方案組合由IQVIA連接智能™驅動，旨在提供可操作的洞察和基於高質量健康數據、醫療級人工智能™、先進的分析、最新的科技和廣泛的領域專業知識的服務。IQVIA在100多個國家擁有約88,000名員工，包括醫療、生命科學、數據科學、科技和運營卓越領域的專家，致力於加快創新醫療治療的開發和商業化，以幫助改善全球患者的結果和公共健康。
23
目錄
我們是保護患者隱私的全球領導者。我們使用多種隱私增強技術和保障措施，保護個人隱私，同時生成和分析大量信息，幫助醫療利益相關者識別疾病模式，並關聯到精確的治療路徑和所需的療法，以獲得更好的結果。我們的洞察力和執行能力幫助生物技術、器械、藥品公司，醫學研究人員，政府機構，付款方和其他醫療利益相關者深入理解疾病、人類行爲和科學進展，以推動他們朝着治癒的道路前進。
我們通過三個可報告的細分市場進行管理：科技與分析解決方案、研發解決方案和合同銷售與醫療解決方案。科技與分析解決方案爲我們的生命科學客戶提供關鍵任務信息、科技解決方案以及現實世界的見解和服務。研發解決方案主要服務於生物製藥客戶，提供外包的臨床研究和臨床試驗相關服務。合同銷售與醫療解決方案爲生物製藥客戶及更廣泛的醫療市場提供醫療保健提供者（包括合同銷售）和患者參與服務。
營業收入的來源
總收入包括我們提供服務的收入。我們沒有任何重要的產品收入。
費用和支出
我們的成本和費用主要包括我們的收入成本，包括補償費用和銷售、一般及管理費用。收入成本包括可計費員工和參與生產、試驗監控、數據管理和交付的人員的薪資和福利，以及獲取和處理數據用於我們的信息服務的成本；直接參與提供科技相關服務的工作人員的費用，相關住宿和專門爲科技服務項目購買的數據的費用；以及與服務合同直接相關的其他費用，例如快遞費用、實驗室用品、專業服務和差旅費用。包含在收入成本中的補償費用主要包括支付給監督臨床試驗的研究人員的款項以及我們臨床監測人員和銷售代表的差旅費用。銷售、一般及管理費用包括與銷售、市場營銷和行政職能（包括人力資源、法律、財務、質量保證、合規和一般管理）相關的薪資和福利、差旅、專業服務、培訓及信息技術和設施的費用。我們還產生與折舊和攤銷相關的成本和費用。
外幣翻譯
在2024年的前九個月，約30%的收入是以除美元以外的貨幣計量的，這代表大約60種貨幣。由於我們大部分的收入和支出是以外幣計量的，而我們的基本報表是以美元報告的，因此，外幣匯率的變動會顯著影響我們的經營成果。我們外國業務的收入和支出通常以當地貨幣計量，並在財務報告中轉換爲美元。因此，匯率波動將影響外國業績轉換爲美元，以報告我們的精簡合併結果。因此，我們認爲，報告剔除外幣匯率波動對某些財務結果影響的經營成果，可以方便進行期間比較的分析。這一恒定貨幣信息假設在可比的去年同期使用的外匯匯率在當前期間結果的轉換中保持不變。因此，報告的經營成果與恒定貨幣信息之間的差異完全歸因於外幣匯率波動的影響。
綜合運營成果
有關我們在科技與分析解決方案、研究與開發解決方案以及合同銷售與醫療解決方案的運營結果的信息，詳情請參閱本節後面的「細分運營結果」。
24
目錄
營業收入
截至9月30日的三個月
變更
(單位：百萬)
20242023
$
%
營業收入$3,896 $3,736 $160 4.3 %
在2024年第三季度，我們的營業收入增加了16000萬美金，或4.3%，與2023年同一時期相比。此次增長包括了大約15800萬美金的恒定貨幣營業收入增長，或4.2%，其中科技與分析解決方案增加了11800萬美金，研究與開發解決方案增加了4200萬美金，而合同銷售與醫療解決方案減少了200萬美金。
截至9月30日的九個月
變更
(單位：百萬)
20242023
$
%
營業收入$11,447 $11,116 $331 3.0 %
在2024年前九個月，我們的營業收入增長了3.31億美元，增長了3.0%，與2023年同期相比。這個增長包括了貨幣不變營業收入增長約39300萬，或3.5%，其中科技與分析解決方案增長了18800萬，研究與開發解決方案增長了18900萬，以及合同銷售與醫療解決方案增長了1600萬。
營業成本，不包括折舊和攤銷
截至9月30日的三個月截至9月30日的九個月
(單位：百萬)2024202320242023
不包括折舊和攤銷的收入成本$2,518 $2,426 $7,450 $7,267 
營收百分比64.6 %64.9 %65.1 %65.4 %
與2023年同期相比，2024年9月30日止三個月的9200萬美元收入成本增加，包括大約15600萬美元或6.4%的常規貨幣增長，反映出科技與分析解決方案增加了7000萬美元，研究與開發解決方案增加了8800萬美元，以及合同銷售與醫療解決方案減少了200萬美元。
截至2024年9月30日的九個月內，費用收入的增加爲18300萬美元（不包括折舊和攤銷），與2023年同期相比，包含了大約48000萬美元，或6.6%的穩定貨幣增加，反映出科技與分析解決方案增加了15400萬美元，研究與開發解決方案增加了31100萬美元，以及合同銷售與醫療解決方案增加了1500萬美元。
銷售、一般和管理費用
截至9月30日的三個月截至9月30日的九個月
(單位：百萬)
2024202320242023
銷售、一般和管理費用$522 $502 $1,539 $1,497 
% 的收入
13.4 %13.4 %13.4 %13.5 %
與2023年同期相比，截止2024年9月30日的三個月內，銷售、一般和行政費用增加了2000萬美元，其中以固定匯率計算約增加了1900萬美元，增長幅度爲3.8%。這反映了科技與分析解決方案增加了800萬美元，研究與開發解決方案增加了700萬美元，以及一般企業和未分配費用增加了400萬美元。
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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Table of contents
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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