Analysis of Operating Leases
An operating lease is treated like a rental contract. Neither the leased asset nor the associated liability is reported on the lessee balance sheet, but the rights may be very similar to the rights of an owner. The lessee only records the lease payments as a rental expense in income statement.
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AmerisourceBergen Corp. pages available for free this week:
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)
AmerisourceBergen Corp., future operating lease payments (before adoption of FASB Topic 842)
US$ in thousands
| Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | ||
|---|---|---|---|---|---|---|---|
| Total undiscounted future operating lease payments | |||||||
| Discount rate1 | |||||||
| Total present value of future operating lease payments | |||||||
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).
1 Weighted-average interest rate for AmerisourceBergen Corp. debt
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 | 2022 | |||
| 2023 | 2023 | |||
| 2024 | 2024 | |||
| 2025 and thereafter | 2025 | |||
| 2026 | ||||
| 2027 | ||||
| 2028 | ||||
| Total: |
Based on: 10-K (reporting date: 2019-09-30).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2019 | 2019 | |||
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 | 2022 | |||
| 2023 | 2023 | |||
| 2024 and thereafter | 2024 | |||
| 2025 | ||||
| 2026 | ||||
| Total: |
Based on: 10-K (reporting date: 2018-09-30).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2018 | 2018 | |||
| 2019 | 2019 | |||
| 2020 | 2020 | |||
| 2021 | 2021 | |||
| 2022 | 2022 | |||
| 2023 and thereafter | 2023 | |||
| 2024 | ||||
| 2025 | ||||
| Total: |
Based on: 10-K (reporting date: 2017-09-30).
Adjustments to Financial Statements for Operating Leases
AmerisourceBergen Corp., adjustments to financial statements
US$ in thousands
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).
1, 2 Equal to total present value of future operating lease payments.
AmerisourceBergen Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios for Operating Leases (Summary)
AmerisourceBergen Corp., adjusted financial ratios
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 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 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
Adjusted Total Asset Turnover
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
= ÷ =
2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= ÷ =
| 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. |
Adjusted Debt to Equity
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 Debt to equity = Total debt ÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= ÷ =
2 Adjusted debt to equity = Adjusted total debt ÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= ÷ =
Adjusted Return on Assets (ROA)
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 × ÷ =
2 Adjusted ROA = 100 × Net income (loss) attributable to AmerisourceBergen Corporation ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | AmerisourceBergen Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022. |