Syneos Health, Inc. (SYNH) 10-K Annual Report February 2022

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2021	Feb. 10, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity File Number	001-36730
Entity Registrant Name	SYNEOS HEALTH, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3403111
Entity Address, Address Line One	1030 Sync Street
Entity Address, City or Town	Morrisville
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27560-5468
City Area Code	919
Local Phone Number	876-9300
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	SYNH
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 9,235,907,535
Entity Common Stock, Shares Outstanding		104,221,138
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for its 2022 Annual Meeting of Stockholders are incorporated by reference into Part III hereof
Entity Central Index Key	0001610950
Auditor Name	Deloitte & Touche LLP
Auditor Location	Raleigh, North Carolina
Auditor Firm ID	34

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Inside Syneos Health, Inc.'s 10-K Annual Report:

Financial - Expense Highlight
We have also experienced a reduction in the costs associated with investigational medicinal products, which has also resulted in lower reimbursable out-of-pocket expenses.

Financial - Expense Highlight
Selling, general and administrative expenses were as follows (dollars in thousands): Selling, general, and administrative expenses for the year ended December 31, 2021 increased compared to the prior year primarily due to acquisitions, including higher transaction and integration-related expenses, and the end of temporary cost management strategies in response to the COVID-19 pandemic implemented in the prior year.
Financial - Expense Highlight
The input measure reflects costs (including investigator payments and pass-through costs) incurred to date relative to total estimated costs to complete the contract ("cost-to-cost measure of progress").
Financial - Debt Highlight
The Indenture also contains customary events of default, including (1) failure to make required payments, (2) failure to comply with certain covenants, (3) failure to pay certain other indebtedness, (4) certain events of bankruptcy and insolvency, and (5) failure to pay certain judgments.
Financial - Expense Highlight
In the event actual inflation rates are greater than our contractual inflation rates or cost of living adjustments, generally our contracts allow for increases to our inflationary assumptions to offset.
Financial - Debt
Our principal liquidity requirements are...Read more
Other - Other
As of December 31, 2021,...Read more
Financial - Expense
Relative to pre-pandemic levels, we...Read more
Financial - Earnings
These increases were partially offset...Read more
Financial - Earnings
These increases were partially offset...Read more
Financial - Expense
As a result, we have...Read more
Financial - Earnings
There is no assurance that...Read more
Financial - Expense
If the calculation of the...Read more
Financial - Shares
The following table sets forth...Read more
Financial - Income
The effective income tax rate...Read more
Financial - Expense
Direct costs were as follows...Read more
Financial - Expense
Restructuring and other costs consisted...Read more
Financial - Debt
For the year ended December...Read more
Revenue - Product
As we increasingly compete for...Read more
Other - Other
StudyKIK supports patient recruitment, patient...Read more
Financial - Debt
The Credit Agreement contains covenant...Read more
Revenue - Product
Variable consideration is recognized as...Read more
Other - Other
In general, prerequisites for billings...Read more
Financial - Expense
The increase in total depreciation...Read more
Financial - Expense
Direct costs consist principally of...Read more
Financial - Expense
While we have some ability...Read more
Revenue - Product
Most of our contract modifications...Read more
Financial - Expense
In the event of termination,...Read more
Other - Other
Cash from operations also could...Read more
Financial - Shares
We may also repurchase shares...Read more
M & A - Other
Goodwill represents the excess of...Read more
M & A - Other
Goodwill represents the excess of...Read more
Revenue - Product
Unbilled accounts receivable (including contract...Read more
Financial - Income
The effective income tax rate...Read more
Financial - Expense
We recorded an additional discount...Read more
Financial - Expense
Commercial Solutions Direct costs for...Read more
Revenue - Product
We attempt to negotiate payment...Read more
Revenue - Product
We believe the primary ongoing...Read more
Other - Other
As of December 31, 2021,...Read more
Financial - Expense
We may also continue to...Read more
M & A - Other
We have historically funded our...Read more
Financial - Expense
Total other expense, net consisted...Read more
Financial - Dividend
Each of the restrictive covenants...Read more
M & A - Other
We amortize intangible assets related...Read more
Financial - Expense
Such fluctuations are due to...Read more
Revenue - Product
Revenue for these service contracts...Read more
Financial - Expense
If the customer does not...Read more
Revenue - Product
Updates and adjustments to estimates...Read more
Other - Other
Net new business awards and...Read more
Financial - Expense
If a customer cancels an...Read more
Other - Other
Fluctuations in our net new...Read more
Financial - Cash Flow
If such facts and circumstances...Read more
Financial - Debt
We may seek to raise...Read more
Financial - Expense
Clinical Solutions Direct costs for...Read more
Financial - Debt
We cannot assure you that...Read more
Revenue - Product
Commercial Solutions For the year...Read more
Other - Other
Key measures of our liquidity...Read more
Financial - Expense
The costs incurred during 2021...Read more
Revenue - Product
Fluctuations in accounts receivable, unbilled...Read more
Financial - Expense
Under the cost-to-cost measure of...Read more
Financial - Shares
Share repurchases are funded primarily...Read more
Other - Other
If a valuation allowance is...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Syneos Health, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 4.6: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.7: Material Contract

Exhibit 10.11.7: Material Contract

Exhibit 10.11.8: Material Contract

Exhibit 10.11.9: Material Contract

Exhibit 10.11.10: Material Contract

Exhibit 10.12.7: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: SYNH
CIK: 1610950
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-005428
Submitted to the SEC: Wed Feb 16 2022 6:39:37 PM EST
Accepted by the SEC: Thu Feb 17 2022
Period: Friday, December 31, 2021
Industry: Commercial Physical And Biological Research

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Syneos Health, Inc. (SYNH) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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