Exhibit 99.2

MERCK & CO., INC.

CONSOLIDATED STATEMENT OF INCOME - GAAP

(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)

(UNAUDITED)

Table 1a 

* 100% or greater

Sum of quarterly amounts may not equal year-to-date amounts due to rounding.                                                                                                

Only the line items that are affected by non-GAAP adjustments are shown. 

Merck is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing non-GAAP information enhances investors’ understanding of the company’s results because management uses non-GAAP measures to assess performance. Management uses non-GAAP measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. In addition, senior management’s annual compensation is derived in part using a non-GAAP pretax income metric. The non-GAAP information presented should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.  

⁽¹⁾ Amounts included in cost of sales primarily reflect expenses for the amortization of intangible assets.  Amounts included in selling, general and administrative expenses reflect integration, transaction and certain other costs related to acquisitions and divestitures, including $169 million of transaction costs related to the acquisition of Acceleron Pharma Inc. (Acceleron) in 2021.  Amounts included in research and development expenses primarily reflect a $275 million in-process research and development (IPR&D) impairment charge related to nemtabrutinib, which was obtained as part of the 2020 ArQule, Inc. acquisition, $105 million of Acceleron transaction costs, and expenses for the amortization of intangible assets.  Amounts included in other (income) expense, net, reflect increases in the estimated fair value measurement of liabilities for contingent consideration and royalty income related to the prior termination of the Sanofi-Pasteur MSD joint venture.  Additionally, the full year includes a loss on a forward exchange contract entered into in conjunction with the Organon spin-off. 

⁽²⁾ Amounts primarily include employee separation costs and accelerated depreciation associated with facilities to be closed or divested related to activities under the company's formal restructuring programs.  

⁽³⁾ Reflects charges for the discontinuation of COVID-19 development programs. 

⁽⁴⁾ Represent the estimated tax impacts on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.  Certain other items for the full year also includes a $207 million net tax benefit related to the settlement of certain federal income tax matters.

 

MERCK & CO., INC.

FRANCHISE / KEY PRODUCT SALES - CONTINUING OPERATIONS

FOURTH QUARTER 2022

(AMOUNTS IN MILLIONS)

(UNAUDITED)

Table 3a

* 200% or greater 

Sum of U.S. plus international may not equal global due to rounding. 

⁽¹⁾ Only select products are shown. 

⁽²⁾ Alliance Revenue represents Merck’s share of profits, which are product sales net of cost of sales and commercialization costs. 

⁽³⁾ Alliance Revenue represents royalties. 

⁽⁴⁾ Total Vaccines sales were $2,554 million in the fourth quarter of 2022 and $2,715 million in the fourth quarter of 2021. 

⁽⁵⁾ Alliance Revenue represents Merck's share of profits from sales in Bayer's marketing territories, which are product sales net of cost of sales and commercialization costs. 

⁽⁶⁾ Net product sales in Merck's marketing territories. 

⁽⁷⁾ Total Diabetes sales were $1,012 million in the fourth quarter of 2022 and $1,475 million in the fourth quarter of 2021. 

⁽⁸⁾ Includes Pharmaceutical products not individually shown above. 

⁽⁹⁾ Other Revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue-hedging activities.  Other Revenues related to the receipt of upfront and milestone payments for out-licensed products were $10 million in the fourth quarter of 2022, and $27 million in the fourth quarter of 2021.