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.

Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)
Adjustments to Financial Statements for Operating Leases
Adjusted Financial Ratios for Operating Leases (Summary)
Adjusted Total Asset Turnover
Adjusted Debt to Equity
Adjusted Return on Assets (ROA)

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	—	—	—	548,335)	512,153)	295,477)
Discount rate¹	—	—	—	3.67%	3.67%	3.81%

Total present value of future operating lease payments	—	—	—	473,995)	446,301)	257,899)

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

2019 Calculations

Year	Future operating lease payments (as reported)	Year	Future operating lease payments (estimated)	Present value at 3.67%
2020	94,958)	2020	94,958)	91,596)
2021	84,002)	2021	84,002)	78,160)
2022	72,224)	2022	72,224)	64,822)
2023	63,507)	2023	63,507)	54,981)
2024	56,377)	2024	56,377)	47,080)
2025 and thereafter	177,267)	2025	56,377)	45,413)
		2026	56,377)	43,806)
		2027	56,377)	42,255)
		2028	8,136)	5,882)
Total:	548,335)		548,335)	473,995)

Based on: 10-K (reporting date: 2019-09-30).

2018 Calculations

Year	Future operating lease payments (as reported)	Year	Future operating lease payments (estimated)	Present value at 3.67%
2019	89,589)	2019	89,589)	86,417)
2020	84,689)	2020	84,689)	78,799)
2021	75,929)	2021	75,929)	68,147)
2022	64,064)	2022	64,064)	55,463)
2023	54,168)	2023	54,168)	45,235)
2024 and thereafter	143,714)	2024	54,168)	43,634)
		2025	54,168)	42,089)
		2026	35,378)	26,516)
Total:	512,153)		512,153)	446,301)

Based on: 10-K (reporting date: 2018-09-30).

2017 Calculations

Year	Future operating lease payments (as reported)	Year	Future operating lease payments (estimated)	Present value at 3.81%
2018	61,676)	2018	61,676)	59,412)
2019	50,165)	2019	50,165)	46,550)
2020	45,173)	2020	45,173)	40,380)
2021	34,631)	2021	34,631)	29,820)
2022	27,321)	2022	27,321)	22,662)
2023 and thereafter	76,511)	2023	27,321)	21,830)
		2024	27,321)	21,029)
		2025	21,869)	16,215)
Total:	295,477)		295,477)	257,899)

Based on: 10-K (reporting date: 2017-09-30).

Download chart

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)
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	473,995)	446,301)	257,899)
Total assets (adjusted)	56,560,616)	57,337,805)	44,274,830)	39,645,975)	38,116,139)	35,574,369)
Adjustment to Total Debt
Total debt (as reported)	5,702,833)	6,683,924)	4,119,520)	4,172,892)	4,310,189)	3,442,055)
Add: Operating lease liability (before adoption of FASB Topic 842)²	—)	—)	—)	473,995)	446,301)	257,899)
Add: Operating lease liabilities (included in Accrued expenses and other)	158,184)	175,352)	92,587)	—)	—)	—)
Add: Operating lease liabilities (included in Other long-term liabilities)	864,288)	946,155)	385,507)	—)	—)	—)
Total debt (adjusted)	6,725,305)	7,805,431)	4,597,614)	4,646,887)	4,756,490)	3,699,954)

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

Download chart

AmerisourceBergen Corp., adjusted financial ratios

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Total Asset Turnover¹
Reported total asset turnover	4.22	3.73	4.29	4.58	4.46	4.34
Adjusted total asset turnover	4.22	3.73	4.29	4.53	4.41	4.30
Debt to Equity²
Reported debt to equity	—	29.93	—	1.45	1.47	1.67
Adjusted debt to equity	—	34.95	—	1.61	1.62	1.79
Return on Assets³ (ROA)
Reported ROA	3.00%	2.69%	-7.70%	2.18%	4.40%	1.03%
Adjusted ROA	3.00%	2.69%	-7.70%	2.16%	4.35%	1.02%

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 See details »

² See details »

³ See details »

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

Download chart

	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 Operating Leases
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	56,560,616)	57,337,805)	44,274,830)	39,645,975)	38,116,139)	35,574,369)
Activity Ratio
Adjusted total asset turnover²	4.22	3.73	4.29	4.53	4.41	4.30

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).

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 ÷ 56,560,616 = 4.22

Download chart

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 debt	5,702,833)	6,683,924)	4,119,520)	4,172,892)	4,310,189)	3,442,055)
Total AmerisourceBergen Corporation stockholders’ equity (deficit)	(211,559)	223,354)	(1,018,924)	2,878,917)	2,932,824)	2,064,461)
Solvency Ratio
Debt to equity¹	—	29.93	—	1.45	1.47	1.67
Adjusted for Operating Leases
Selected Financial Data (US$ in thousands)
Adjusted total debt	6,725,305)	7,805,431)	4,597,614)	4,646,887)	4,756,490)	3,699,954)
Total AmerisourceBergen Corporation stockholders’ equity (deficit)	(211,559)	223,354)	(1,018,924)	2,878,917)	2,932,824)	2,064,461)
Solvency Ratio
Adjusted debt to equity²	—	34.95	—	1.61	1.62	1.79

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)
= 5,702,833 ÷ -211,559 = —

² Adjusted debt to equity = Adjusted total debt ÷ Total AmerisourceBergen Corporation stockholders’ equity (deficit)
= 6,725,305 ÷ -211,559 = —

Download chart

	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 Operating Leases
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)
Adjusted total assets	56,560,616)	57,337,805)	44,274,830)	39,645,975)	38,116,139)	35,574,369)
Profitability Ratio
Adjusted ROA²	3.00%	2.69%	-7.70%	2.16%	4.35%	1.02%

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

Download chart

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.

AmerisourceBergen Corp. (NYSE:ABC)

Analysis of Operating Leases

Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)

Adjustments to Financial Statements for Operating Leases

AmerisourceBergen Corp., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios for Operating Leases (Summary)

AmerisourceBergen Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Debt to Equity

Adjusted Return on Assets (ROA)