Inventory Disclosure
Adjustment to Inventory: Conversion from LIFO to FIFO
Adjusted Financial Ratios: LIFO vs. FIFO (Summary)
Adjusted Current Ratio
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

AmerisourceBergen Corp., balance sheet: inventory

US$ in thousands

		Sep 30, 2022		Sep 30, 2021		Sep 30, 2020		Sep 30, 2019		Sep 30, 2018		Sep 30, 2017
	Inventories	15,556,394)		15,368,352)		12,589,278)		11,060,254)		11,918,508)		11,461,428)

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
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	AmerisourceBergen Corp. inventories increased from 2020 to 2021 and from 2021 to 2022.

Adjusting LIFO Inventory to FIFO (Current) Cost

US$ in thousands

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Adjustment to Inventories
Inventories at LIFO (as reported)	15,556,394)	15,368,352)	12,589,278)	11,060,254)	11,918,508)	11,461,428)
Add: Inventory LIFO reserve	1,383,400)	1,316,200)	1,519,200)	1,511,800)	1,534,400)	1,467,000)
Inventories at FIFO (adjusted)	16,939,794)	16,684,552)	14,108,478)	12,572,054)	13,452,908)	12,928,428)
Adjustment to Current Assets
Current assets (as reported)	39,589,758)	38,802,609)	33,055,702)	28,132,054)	25,894,372)	24,303,299)
Add: Inventory LIFO reserve	1,383,400)	1,316,200)	1,519,200)	1,511,800)	1,534,400)	1,467,000)
Current assets (adjusted)	40,973,158)	40,118,809)	34,574,902)	29,643,854)	27,428,772)	25,770,299)
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)
Add: Inventory LIFO reserve	1,383,400)	1,316,200)	1,519,200)	1,511,800)	1,534,400)	1,467,000)
Total assets (adjusted)	57,944,016)	58,654,005)	45,794,030)	40,683,780)	39,204,238)	36,783,470)
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)
Add: Inventory LIFO reserve	1,383,400)	1,316,200)	1,519,200)	1,511,800)	1,534,400)	1,467,000)
Total AmerisourceBergen Corporation stockholders’ equity (deficit) (adjusted)	1,171,841)	1,539,554)	500,276)	4,390,717)	4,467,224)	3,531,461)
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: Increase (decrease) in inventory LIFO reserve	67,200)	(203,000)	7,400)	(22,600)	67,400)	(157,800)
Net income (loss) attributable to AmerisourceBergen Corporation (adjusted)	1,766,020)	1,336,932)	(3,401,316)	832,765)	1,725,805)	206,684)

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. inventory value on Sep 30, 2022 would be $16,939,794) (in thousands) if the FIFO inventory method was used instead of LIFO. AmerisourceBergen Corp. inventories, valued on a LIFO basis, on Sep 30, 2022 were $15,556,394). AmerisourceBergen Corp. inventories would have been $1,383,400) higher than reported on Sep 30, 2022 if the FIFO method had been used instead.

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
Current Ratio
Reported current ratio (LIFO)	0.91	0.94	0.98	0.95	0.93	0.91
Adjusted current ratio (FIFO)	0.94	0.97	1.02	1.00	0.98	0.96
Net Profit Margin
Reported net profit margin (LIFO)	0.71%	0.72%	-1.80%	0.48%	0.99%	0.24%
Adjusted net profit margin (FIFO)	0.74%	0.62%	-1.79%	0.46%	1.03%	0.13%
Total Asset Turnover
Reported total asset turnover (LIFO)	4.22	3.73	4.29	4.58	4.46	4.34
Adjusted total asset turnover (FIFO)	4.12	3.65	4.15	4.41	4.28	4.16
Financial Leverage
Reported financial leverage (LIFO)	—	256.71	—	13.61	12.84	17.11
Adjusted financial leverage (FIFO)	49.45	38.10	91.54	9.27	8.78	10.42
Return on Equity (ROE)
Reported ROE (LIFO)	—	689.46%	—	29.71%	56.55%	17.66%
Adjusted ROE (FIFO)	150.70%	86.84%	-679.89%	18.97%	38.63%	5.85%
Return on Assets (ROA)
Reported ROA (LIFO)	3.00%	2.69%	-7.70%	2.18%	4.40%	1.03%
Adjusted ROA (FIFO)	3.05%	2.28%	-7.43%	2.05%	4.40%	0.56%

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 current ratio	A liquidity ratio calculated as adjusted current assets divided by current liabilities.	AmerisourceBergen Corp. adjusted current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	AmerisourceBergen Corp. adjusted net profit margin ratio improved from 2020 to 2021 and 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 financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	AmerisourceBergen Corp. adjusted financial leverage ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	AmerisourceBergen Corp. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.
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)
Current assets	39,589,758)	38,802,609)	33,055,702)	28,132,054)	25,894,372)	24,303,299)
Current liabilities	43,477,955)	41,358,641)	33,853,077)	29,581,294)	27,869,687)	26,818,165)
Liquidity Ratio
Current ratio¹	0.91	0.94	0.98	0.95	0.93	0.91
Adjusted: After Conversion from LIFO to FIFO
Selected Financial Data (US$ in thousands)
Adjusted current assets	40,973,158)	40,118,809)	34,574,902)	29,643,854)	27,428,772)	25,770,299)
Current liabilities	43,477,955)	41,358,641)	33,853,077)	29,581,294)	27,869,687)	26,818,165)
Liquidity Ratio
Adjusted current ratio²	0.94	0.97	1.02	1.00	0.98	0.96

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 Current ratio = Current assets ÷ Current liabilities
= 39,589,758 ÷ 43,477,955 = 0.91

² Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 40,973,158 ÷ 43,477,955 = 0.94

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by current liabilities.	AmerisourceBergen Corp. adjusted current ratio deteriorated from 2020 to 2021 and 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)
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: After Conversion from LIFO to FIFO
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,766,020)	1,336,932)	(3,401,316)	832,765)	1,725,805)	206,684)
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	0.74%	0.62%	-1.79%	0.46%	1.03%	0.13%

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 × 1,766,020 ÷ 238,587,006 = 0.74%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	AmerisourceBergen Corp. adjusted net profit margin ratio improved from 2020 to 2021 and 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: After Conversion from LIFO to FIFO
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	57,944,016)	58,654,005)	45,794,030)	40,683,780)	39,204,238)	36,783,470)
Activity Ratio
Adjusted total asset turnover²	4.12	3.65	4.15	4.41	4.28	4.16

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 ÷ 57,944,016 = 4.12

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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: After Conversion from LIFO to FIFO
Selected Financial Data (US$ in thousands)
Adjusted total assets	57,944,016)	58,654,005)	45,794,030)	40,683,780)	39,204,238)	36,783,470)
Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)	1,171,841)	1,539,554)	500,276)	4,390,717)	4,467,224)	3,531,461)
Solvency Ratio
Adjusted financial leverage²	49.45	38.10	91.54	9.27	8.78	10.42

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)
= 57,944,016 ÷ 1,171,841 = 49.45

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	AmerisourceBergen Corp. adjusted financial leverage ratio decreased from 2020 to 2021 but then slightly increased 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)
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: After Conversion from LIFO to FIFO
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,766,020)	1,336,932)	(3,401,316)	832,765)	1,725,805)	206,684)
Adjusted total AmerisourceBergen Corporation stockholders’ equity (deficit)	1,171,841)	1,539,554)	500,276)	4,390,717)	4,467,224)	3,531,461)
Profitability Ratio
Adjusted ROE²	150.70%	86.84%	-679.89%	18.97%	38.63%	5.85%

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 × 1,766,020 ÷ 1,171,841 = 150.70%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	AmerisourceBergen Corp. adjusted ROE improved from 2020 to 2021 and 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)
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: After Conversion from LIFO to FIFO
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to AmerisourceBergen Corporation	1,766,020)	1,336,932)	(3,401,316)	832,765)	1,725,805)	206,684)
Adjusted total assets	57,944,016)	58,654,005)	45,794,030)	40,683,780)	39,204,238)	36,783,470)
Profitability Ratio
Adjusted ROA²	3.05%	2.28%	-7.43%	2.05%	4.40%	0.56%

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 × 1,766,020 ÷ 57,944,016 = 3.05%

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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 Inventory

Inventory Disclosure

Adjustment to Inventory: Conversion from LIFO to FIFO

AmerisourceBergen Corp., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: LIFO vs. FIFO (Summary)

AmerisourceBergen Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Current Ratio

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)