Stock Analysis on Net

Allergan PLC (NYSE:AGN)

This company has been moved to the archive! The financial data has not been updated since May 7, 2020.

Financial Reporting Quality: Aggregate Accruals

Microsoft Excel

Balance-Sheet-Based Accruals Ratio

Allergan PLC, balance sheet computation of aggregate accruals

US$ in thousands

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Operating Assets
Total assets 94,699,100 101,787,600 118,341,900 128,986,300 135,840,700
Less: Cash and cash equivalents 2,503,300 880,400 1,817,200 1,724,000 1,096,000
Less: Marketable securities 3,411,600 1,026,900 4,632,100 11,501,500 9,300
Operating assets 88,784,200 99,880,300 111,892,600 115,760,800 134,735,400
Operating Liabilities
Total liabilities 36,502,700 36,656,600 44,504,800 52,785,800 59,251,400
Less: Current portion of long-term debt and capital leases 4,532,500 868,300 4,231,800 2,797,900 2,432,800
Less: Long-term debt and capital leases, excluding current portion 18,116,500 22,929,400 25,843,500 29,970,800 40,293,400
Operating liabilities 13,853,700 12,858,900 14,429,500 20,017,100 16,525,200
 
Net operating assets1 74,930,500 87,021,400 97,463,100 95,743,700 118,210,200
Balance-sheet-based aggregate accruals2 (12,090,900) (10,441,700) 1,719,400 (22,466,500)
Financial Ratio
Balance-sheet-based accruals ratio3 -14.93% -11.32% 1.78% -21.00%
Benchmarks
Balance-Sheet-Based Accruals Ratio, Competitors4
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Vertex Pharmaceuticals Inc.

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Net operating assets = Operating assets – Operating liabilities
= 88,784,20013,853,700 = 74,930,500

2 2019 Calculation
Balance-sheet-based aggregate accruals = Net operating assets2019 – Net operating assets2018
= 74,930,50087,021,400 = -12,090,900

3 2019 Calculation
Balance-sheet-based accruals ratio = 100 × Balance-sheet-based aggregate accruals ÷ Avg. net operating assets
= 100 × -12,090,900 ÷ [(74,930,500 + 87,021,400) ÷ 2] = -14.93%

4 Click competitor name to see calculations.

Financial ratio Description The company
Balance-sheet-based accruals ratio Ratio is found by dividing balance-sheet-based aggregate accruals by average net operating assets. Using the balance-sheet-based accruals ratio, Allergan PLC deteriorated earnings quality from 2018 to 2019.

Cash-Flow-Statement-Based Accruals Ratio

Allergan PLC, cash flow statement computation of aggregate accruals

US$ in thousands

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income (loss) attributable to shareholders (5,271,000) (5,096,400) (4,125,500) 14,973,400 3,915,200
Less: Net cash provided by operating activities 7,238,700 5,640,100 5,873,400 1,425,300 4,530,000
Less: Net cash (used in) provided by investing activities (2,858,800) 3,098,500 (878,000) 24,333,300 (37,120,900)
Cash-flow-statement-based aggregate accruals (9,650,900) (13,835,000) (9,120,900) (10,785,200) 36,506,100
Financial Ratio
Cash-flow-statement-based accruals ratio1 -11.92% -15.00% -9.44% -10.08%
Benchmarks
Cash-Flow-Statement-Based Accruals Ratio, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Vertex Pharmaceuticals Inc.

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Cash-flow-statement-based accruals ratio = 100 × Cash-flow-statement-based aggregate accruals ÷ Avg. net operating assets
= 100 × -9,650,900 ÷ [(74,930,500 + 87,021,400) ÷ 2] = -11.92%

2 Click competitor name to see calculations.

Financial ratio Description The company
Cash-flow-statement-based accruals ratio Ratio is found by dividing cash-flow-statement-based aggregate accruals by average net operating assets. Using the cash-flow-statement-based accruals ratio, Allergan PLC improved earnings quality from 2018 to 2019.