Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Allergan PLC, consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net revenues	16,088,900)	15,787,400)	15,940,700)	14,570,600)	15,071,000)
Cost of sales, excludes amortization and impairment of acquired intangibles including product rights	(2,493,100)	(2,191,400)	(2,168,000)	(1,860,800)	(4,810,400)
Gross profit	13,595,800)	13,596,000)	13,772,700)	12,709,800)	10,260,600)
Research and development	(1,812,000)	(2,266,200)	(2,100,100)	(2,575,700)	(2,358,500)
Selling and marketing	(3,461,700)	(3,250,600)	(3,514,800)	(3,266,400)	(2,914,000)
General and administrative	(2,481,800)	(1,271,200)	(1,501,900)	(1,473,900)	(1,765,600)
Amortization	(5,856,600)	(6,552,300)	(7,197,100)	(6,470,400)	(5,453,400)
Goodwill impairments	(3,552,800)	(2,841,100)	—)	—)	—)
In-process research and development impairments	(436,000)	(804,600)	(1,452,300)	(743,900)	(511,600)
Asset sales and impairments, net	(440,200)	(2,857,600)	(3,927,700)	(5,000)	(272,000)
Operating loss	(4,445,300)	(6,247,600)	(5,921,200)	(1,825,500)	(3,014,500)
Interest income	76,800)	45,200)	67,700)	69,900)	11,400)
Interest expense	(783,000)	(911,200)	(1,095,600)	(1,295,600)	(1,193,300)
Teva Share Activity	—)	60,900)	(3,269,300)	—)	—)
Sale of businesses	—)	182,600)	—)	—)	—)
Debt extinguishment costs as part of the debt tender offer	—)	—)	(161,600)	—)	—)
Debt extinguishment other	(200)	15,600)	(27,600)	—)	—)
Other-than-temporary impairments	—)	—)	(26,100)	—)	—)
Dividend income	—)	—)	85,200)	68,200)	—)
Naurex recovery	—)	—)	20,000)	—)	—)
Forward sale of Teva shares	—)	—)	(62,900)	—)	—)
Pfizer termination fee, Allergan plc only	—)	—)	—)	150,000)	—)
Bridge loan commitment fee	—)	—)	—)	—)	(264,900)
Interest rate lock	—)	—)	—)	—)	31,000)
Other	33,000)	(2,400)	5,000)	1,000)	100)
Other income (expense), net	32,800)	256,700)	(3,437,300)	219,200)	(233,800)
Loss before income taxes and noncontrolling interest	(5,118,700)	(6,856,900)	(10,386,400)	(2,832,000)	(4,430,200)
(Provision) benefit for income taxes	(146,400)	1,770,700)	6,670,400)	1,897,000)	1,561,900)
Net loss from continuing operations, net of tax	(5,265,100)	(5,086,200)	(3,716,000)	(935,000)	(2,868,300)
Income (loss) from discontinued operations, net of tax	—)	—)	(402,900)	15,914,500)	6,787,700)
Net income (loss)	(5,265,100)	(5,086,200)	(4,118,900)	14,979,500)	3,919,400)
Income attributable to noncontrolling interest	(5,900)	(10,200)	(6,600)	(6,100)	(4,200)
Net income (loss) attributable to shareholders	(5,271,000)	(5,096,400)	(4,125,500)	14,973,400)	3,915,200)
Dividends on preferred shares	—)	(46,400)	(278,400)	(278,400)	(232,000)
Net income (loss) attributable to ordinary shareholders	(5,271,000)	(5,142,800)	(4,403,900)	14,695,000)	3,683,200)

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).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Allergan PLC net revenues decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Operating loss	The net result for the period of deducting operating expenses from operating revenues.	Allergan PLC operating loss decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Loss before income taxes and noncontrolling interest	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Allergan PLC loss before income taxes and noncontrolling interest increased from 2017 to 2018 and from 2018 to 2019.
Net income (loss) attributable to shareholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Allergan PLC net income (loss) attributable to shareholders decreased from 2017 to 2018 and from 2018 to 2019.

Allergan PLC (NYSE:AGN)

Income Statement