Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities, Classification
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

AmerisourceBergen Corp., income tax expense (benefit), continuing operations

US$ in thousands

12 months ended:	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Federal	126,969)	184,375)	(473,751)	(12,801)	247,755)	141,071)
State and local	39,282)	30,659)	30,236)	15,246)	39,328)	35,950)
Foreign	154,082)	127,351)	94,213)	81,989)	69,972)	57,313)
Current provision (benefit)	320,333)	342,385)	(349,302)	84,434)	357,055)	234,334)
Federal	150,328)	111,428)	(914,613)	61,819)	(828,023)	265,074)
State and local	31,129)	47,516)	(264,409)	(31,086)	33,887)	54,995)
Foreign	14,727)	175,922)	(365,949)	(2,196)	(1,388)	(1,000)
Deferred provision (benefit)	196,184)	334,866)	(1,544,971)	28,537)	(795,524)	319,069)
Provision (benefit) for income taxes	516,517)	677,251)	(1,894,273)	112,971)	(438,469)	553,403)

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

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Item	Description	The company
Current provision (benefit)	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	AmerisourceBergen Corp. current provision (benefit) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Deferred provision (benefit)	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	AmerisourceBergen Corp. deferred provision (benefit) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Provision (benefit) for income taxes	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	AmerisourceBergen Corp. provision (benefit) for income taxes increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

AmerisourceBergen Corp., effective income tax rate (EITR) reconciliation

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%	21.00%	24.50%	35.00%
State and local income tax rate, net of federal tax benefit	2.50%	2.80%	-0.50%	2.40%	-0.10%	5.40%
Tax effect of foreign operations	-1.90%	-0.50%	1.00%	-6.70%	-6.20%	-14.60%
Litigation settlements and accruals	0.40%	0.80%	-6.20%	0.10%	-6.30%	34.30%
Tax law changes	0.00%	7.30%	6.80%	-3.60%	-52.00%	0.00%
PharMEDium worthless stock deduction	0.00%	-1.10%	12.40%	0.00%	0.00%	0.00%
CARES Act	0.00%	0.00%	1.20%	0.00%	0.00%	0.00%
Goodwill impairment	0.00%	0.00%	0.00%	0.00%	1.70%	0.00%
Capital gain on distribution	0.00%	0.00%	0.00%	0.00%	3.60%	0.00%
Other, net	1.70%	0.20%	0.10%	-1.50%	-2.40%	0.20%
Effective income tax rate	23.70%	30.50%	35.80%	11.70%	-37.20%	60.30%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

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Item	Description	The company
Effective income tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	AmerisourceBergen Corp. effective income tax rate decreased from 2020 to 2021 and from 2021 to 2022.

AmerisourceBergen Corp., components of deferred tax assets and liabilities

US$ in thousands

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Net operating loss and tax credit carryforwards	426,651)	389,724)	263,171)	318,868)	421,808)	320,180)
Capital loss carryforwards	—)	—)	—)	—)	—)	64,346)
Allowance for credit losses	67,788)	27,569)	20,051)	22,544)	20,126)	25,871)
Accrued expenses	24,435)	13,411)	21,284)	33,312)	17,363)	36,188)
Accrued litigation liability	981,627)	1,082,845)	1,078,555)	—)	—)	—)
Employee and retiree benefits	22,682)	26,196)	13,891)	12,420)	10,210)	17,121)
Goodwill and other intangible assets	446,605)	488,235)	582,406)	—)	—)	—)
Lease liabilities	241,469)	263,278)	121,182)	—)	—)	—)
Share-based compensation	33,933)	37,466)	38,914)	39,961)	28,888)	59,495)
Other	75,428)	88,855)	79,916)	60,215)	49,892)	81,009)
Gross deferred tax assets	2,320,618)	2,417,579)	2,219,370)	487,320)	548,287)	604,210)
Valuation allowance for deferred tax assets	(617,259)	(538,531)	(411,648)	(199,682)	(199,985)	(211,080)
Deferred tax assets, net of valuation allowance	1,703,359)	1,879,048)	1,807,722)	287,638)	348,302)	393,130)
Inventories	(1,471,064)	(1,388,913)	(1,309,815)	(1,293,075)	(1,189,801)	(1,519,779)
Property and equipment	(149,896)	(167,974)	(94,521)	(143,851)	(133,417)	(150,240)
Goodwill and other intangible assets	(1,184,477)	(1,409,296)	(613,123)	(709,015)	(853,747)	(1,214,597)
Right-of-use assets	(219,616)	(249,920)	(113,220)	—)	—)	—)
Other	(61,148)	(57,450)	(1,888)	(1,892)	(747)	(1,126)
Gross deferred tax liabilities	(3,086,201)	(3,273,553)	(2,132,567)	(2,147,833)	(2,177,712)	(2,885,742)
Net deferred tax assets (liabilities)	(1,382,842)	(1,394,505)	(324,845)	(1,860,195)	(1,829,410)	(2,492,612)

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

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Item	Description	The company
Gross deferred tax assets	Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	AmerisourceBergen Corp. gross deferred tax assets increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Deferred tax assets, net of valuation allowance	Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	AmerisourceBergen Corp. deferred tax assets, net of valuation allowance increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	AmerisourceBergen Corp. net deferred tax assets (liabilities) decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

AmerisourceBergen Corp., deferred tax assets and liabilities, classification

US$ in thousands

		Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
	Deferred tax assets	237,571)	290,791)	361,640)	—)	—)	—)
	Deferred tax liabilities	1,620,413)	1,685,296)	686,485)	1,860,195)	1,829,410)	2,492,612)

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

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Item	Description	The company
Deferred tax assets	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.	AmerisourceBergen Corp. deferred tax assets decreased from 2020 to 2021 and from 2021 to 2022.
Deferred tax liabilities	Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent.	AmerisourceBergen Corp. deferred tax liabilities increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

AmerisourceBergen Corp., adjustments to financial statements

US$ in thousands

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Adjustment to Total Assets
Total assets (as reported)	56,560,616)	57,337,805)	44,274,830)	39,171,980)	37,669,838)	35,316,470)
Less: Noncurrent deferred tax assets, net	237,571)	290,791)	361,640)	—)	—)	—)
Total assets (adjusted)	56,323,045)	57,047,014)	43,913,190)	39,171,980)	37,669,838)	35,316,470)
Adjustment to Total Liabilities
Total liabilities (as reported)	56,489,343)	56,753,394)	45,114,466)	36,178,774)	34,619,877)	33,252,009)
Less: Noncurrent deferred tax liabilities, net	1,620,413)	1,685,296)	686,485)	1,860,195)	1,829,410)	2,492,612)
Total liabilities (adjusted)	54,868,930)	55,068,098)	44,427,981)	34,318,579)	32,790,467)	30,759,397)
Adjustment to Total AmerisourceBergen Corporation Stockholders’ Equity (deficit)
Total AmerisourceBergen Corporation stockholders’ equity (deficit) (as reported)	(211,559)	223,354)	(1,018,924)	2,878,917)	2,932,824)	2,064,461)
Less: Net deferred tax assets (liabilities)	(1,382,842)	(1,394,505)	(324,845)	(1,860,195)	(1,829,410)	(2,492,612)
Total AmerisourceBergen Corporation stockholders’ equity (deficit) (adjusted)	1,171,283)	1,617,859)	(694,079)	4,739,112)	4,762,234)	4,557,073)
Adjustment to Net Income (loss) Attributable To AmerisourceBergen Corporation
Net income (loss) attributable to AmerisourceBergen Corporation (as reported)	1,698,820)	1,539,932)	(3,408,716)	855,365)	1,658,405)	364,484)
Add: Deferred income tax expense (benefit)	196,184)	334,866)	(1,544,971)	28,537)	(795,524)	319,069)
Net income (loss) attributable to AmerisourceBergen Corporation (adjusted)	1,895,004)	1,874,798)	(4,953,687)	883,902)	862,881)	683,553)

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

AmerisourceBergen Corp., Financial Data: Reported vs. Adjusted

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AmerisourceBergen Corp., adjusted financial ratios

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Net Profit Margin
Reported net profit margin	0.71%	0.72%	-1.80%	0.48%	0.99%	0.24%
Adjusted net profit margin	0.79%	0.88%	-2.61%	0.49%	0.51%	0.45%
Total Asset Turnover
Reported total asset turnover	4.22	3.73	4.29	4.58	4.46	4.34
Adjusted total asset turnover	4.24	3.75	4.32	4.58	4.46	4.34
Financial Leverage
Reported financial leverage	—	256.71	—	13.61	12.84	17.11
Adjusted financial leverage	48.09	35.26	—	8.27	7.91	7.75
Return on Equity (ROE)
Reported ROE	—	689.46%	—	29.71%	56.55%	17.66%
Adjusted ROE	161.79%	115.88%	—	18.65%	18.12%	15.00%
Return on Assets (ROA)
Reported ROA	3.00%	2.69%	-7.70%	2.18%	4.40%	1.03%
Adjusted ROA	3.36%	3.29%	-11.28%	2.26%	2.29%	1.94%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	AmerisourceBergen Corp. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	AmerisourceBergen Corp. adjusted total asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	AmerisourceBergen Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

AmerisourceBergen Corp., Financial Ratios: Reported vs. Adjusted

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	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to AmerisourceBergen Corporation	1,698,820)	1,539,932)	(3,408,716)	855,365)	1,658,405)	364,484)
Revenue	238,587,006)	213,988,843)	189,893,926)	179,589,121)	167,939,635)	153,143,826)
Profitability Ratio
Net profit margin¹	0.71%	0.72%	-1.80%	0.48%	0.99%	0.24%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,895,004)	1,874,798)	(4,953,687)	883,902)	862,881)	683,553)
Revenue	238,587,006)	213,988,843)	189,893,926)	179,589,121)	167,939,635)	153,143,826)
Profitability Ratio
Adjusted net profit margin²	0.79%	0.88%	-2.61%	0.49%	0.51%	0.45%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

2022 Calculations

¹ Net profit margin = 100 × Net income (loss) attributable to AmerisourceBergen Corporation ÷ Revenue
= 100 × 1,698,820 ÷ 238,587,006 = 0.71%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to AmerisourceBergen Corporation ÷ Revenue
= 100 × 1,895,004 ÷ 238,587,006 = 0.79%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	AmerisourceBergen Corp. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
As Reported
Selected Financial Data (US$ in thousands)
Revenue	238,587,006)	213,988,843)	189,893,926)	179,589,121)	167,939,635)	153,143,826)
Total assets	56,560,616)	57,337,805)	44,274,830)	39,171,980)	37,669,838)	35,316,470)
Activity Ratio
Total asset turnover¹	4.22	3.73	4.29	4.58	4.46	4.34
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Revenue	238,587,006)	213,988,843)	189,893,926)	179,589,121)	167,939,635)	153,143,826)
Adjusted total assets	56,323,045)	57,047,014)	43,913,190)	39,171,980)	37,669,838)	35,316,470)
Activity Ratio
Adjusted total asset turnover²	4.24	3.75	4.32	4.58	4.46	4.34

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

2022 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 238,587,006 ÷ 56,560,616 = 4.22

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 238,587,006 ÷ 56,323,045 = 4.24

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	AmerisourceBergen Corp. adjusted total asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
As Reported
Selected Financial Data (US$ in thousands)
Total assets	56,560,616)	57,337,805)	44,274,830)	39,171,980)	37,669,838)	35,316,470)
Total AmerisourceBergen Corporation stockholders’ equity (deficit)	(211,559)	223,354)	(1,018,924)	2,878,917)	2,932,824)	2,064,461)
Solvency Ratio
Financial leverage¹	—	256.71	—	13.61	12.84	17.11
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted total assets	56,323,045)	57,047,014)	43,913,190)	39,171,980)	37,669,838)	35,316,470)
Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)	1,171,283)	1,617,859)	(694,079)	4,739,112)	4,762,234)	4,557,073)
Solvency Ratio
Adjusted financial leverage²	48.09	35.26	—	8.27	7.91	7.75

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

2022 Calculations

¹ Financial leverage = Total assets ÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 56,560,616 ÷ -211,559 = —

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 56,323,045 ÷ 1,171,283 = 48.09

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	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to AmerisourceBergen Corporation	1,698,820)	1,539,932)	(3,408,716)	855,365)	1,658,405)	364,484)
Total AmerisourceBergen Corporation stockholders’ equity (deficit)	(211,559)	223,354)	(1,018,924)	2,878,917)	2,932,824)	2,064,461)
Profitability Ratio
ROE¹	—	689.46%	—	29.71%	56.55%	17.66%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,895,004)	1,874,798)	(4,953,687)	883,902)	862,881)	683,553)
Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)	1,171,283)	1,617,859)	(694,079)	4,739,112)	4,762,234)	4,557,073)
Profitability Ratio
Adjusted ROE²	161.79%	115.88%	—	18.65%	18.12%	15.00%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

2022 Calculations

¹ ROE = 100 × Net income (loss) attributable to AmerisourceBergen Corporation ÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 100 × 1,698,820 ÷ -211,559 = —

² Adjusted ROE = 100 × Adjusted net income (loss) attributable to AmerisourceBergen Corporation ÷ Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 100 × 1,895,004 ÷ 1,171,283 = 161.79%

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	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to AmerisourceBergen Corporation	1,698,820)	1,539,932)	(3,408,716)	855,365)	1,658,405)	364,484)
Total assets	56,560,616)	57,337,805)	44,274,830)	39,171,980)	37,669,838)	35,316,470)
Profitability Ratio
ROA¹	3.00%	2.69%	-7.70%	2.18%	4.40%	1.03%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,895,004)	1,874,798)	(4,953,687)	883,902)	862,881)	683,553)
Adjusted total assets	56,323,045)	57,047,014)	43,913,190)	39,171,980)	37,669,838)	35,316,470)
Profitability Ratio
Adjusted ROA²	3.36%	3.29%	-11.28%	2.26%	2.29%	1.94%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

2022 Calculations

¹ ROA = 100 × Net income (loss) attributable to AmerisourceBergen Corporation ÷ Total assets
= 100 × 1,698,820 ÷ 56,560,616 = 3.00%

² Adjusted ROA = 100 × Adjusted net income (loss) attributable to AmerisourceBergen Corporation ÷ Adjusted total assets
= 100 × 1,895,004 ÷ 56,323,045 = 3.36%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	AmerisourceBergen Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

AmerisourceBergen Corp. (NYSE:ABC)

Analysis of Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities, Classification

Adjustments to Financial Statements: Removal of Deferred Taxes

AmerisourceBergen Corp., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

AmerisourceBergen Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)