Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Biogen Inc., adjusted current assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current assets	7,856,500)	6,887,100)	8,381,800)	7,640,900)	7,873,300)
Adjustments
Add: Reserves for allowances	38,000)	41,600)	40,500)	34,700)	46,000)
After Adjustment
Adjusted current assets	7,894,500)	6,928,700)	8,422,300)	7,675,600)	7,919,300)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Download chart

Biogen Inc., adjusted total assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total assets	23,877,300)	24,618,900)	27,234,300)	25,288,900)	23,652,600)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	508,135)	508,429)
Add: Reserves for allowances	38,000)	41,600)	40,500)	34,700)	46,000)
Less: Deferred tax asset²	1,415,100)	1,369,500)	3,232,100)	2,153,900)	595,900)
After Adjustment
Adjusted total assets	22,500,200)	23,291,000)	24,042,700)	23,677,835)	23,611,129)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax asset. See details »

Download chart

Biogen Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current liabilities	4,298,200)	3,742,200)	4,863,800)	3,295,200)	3,368,200)
Adjustments
Less: Current restructuring reserve	—)	—)	—)	—)	500)
After Adjustment
Adjusted current liabilities	4,298,200)	3,742,200)	4,863,800)	3,295,200)	3,367,700)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Download chart

Biogen Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total liabilities	12,917,600)	13,932,800)	13,895,200)	12,257,300)	11,054,500)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	508,135)	508,429)
Less: Deferred tax liability²	694,500)	1,032,800)	2,810,800)	1,636,200)	122,600)
Less: Restructuring reserve	—)	—)	—)	—)	500)
After Adjustment
Adjusted total liabilities	12,223,100)	12,900,000)	11,084,400)	11,129,235)	11,439,829)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liability. See details »

Download chart

Biogen Inc., adjusted total Biogen Inc. shareholders’ equity

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total Biogen Inc. shareholders’ equity	10,896,200)	10,700,300)	13,343,200)	13,039,600)	12,612,800)
Adjustments
Less: Deferred tax assets (liabilities), net¹	720,600)	336,600)	421,300)	517,700)	473,200)
Add: Reserves for allowances	38,000)	41,600)	40,500)	34,700)	46,000)
Add: Restructuring reserve	—)	—)	—)	—)	500)
Add: Noncontrolling interests	63,500)	(14,200)	(4,100)	(8,000)	(14,700)
After Adjustment
Adjusted total equity	10,277,100)	10,391,100)	12,958,300)	12,548,600)	12,171,400)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Deferred tax assets (liabilities), net. See details »

Download chart

Biogen Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current portion of notes payable	999,100)	—)	1,495,800)	—)	3,200)
Notes payable, excluding current portion	6,274,000)	7,426,200)	4,459,000)	5,936,500)	5,935,000)
Total reported debt	7,273,100)	7,426,200)	5,954,800)	5,936,500)	5,938,200)
Total Biogen Inc. shareholders’ equity	10,896,200)	10,700,300)	13,343,200)	13,039,600)	12,612,800)
Total reported capital	18,169,300)	18,126,500)	19,298,000)	18,976,100)	18,551,000)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	508,135)	508,429)
Add: Current operating lease liabilities (included in Accrued expenses and other)²	89,100)	83,200)	73,600)	—)	—)
Add: Long-term operating lease liabilities³	330,400)	402,000)	412,700)	—)	—)
Adjusted total debt	7,692,600)	7,911,400)	6,441,100)	6,444,635)	6,446,629)
Adjustments to Equity
Less: Deferred tax assets (liabilities), net⁴	720,600)	336,600)	421,300)	517,700)	473,200)
Add: Reserves for allowances	38,000)	41,600)	40,500)	34,700)	46,000)
Add: Restructuring reserve	—)	—)	—)	—)	500)
Add: Noncontrolling interests	63,500)	(14,200)	(4,100)	(8,000)	(14,700)
Adjusted total equity	10,277,100)	10,391,100)	12,958,300)	12,548,600)	12,171,400)
After Adjustment
Adjusted total capital	17,969,700)	18,302,500)	19,399,400)	18,993,235)	18,618,029)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities (included in Accrued expenses and other). See details »

³ Long-term operating lease liabilities. See details »

⁴ Deferred tax assets (liabilities), net. See details »

Download chart

Biogen Inc., adjusted net income attributable to Biogen Inc.

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net income attributable to Biogen Inc.	1,556,100)	4,000,600)	5,888,500)	4,430,700)	2,539,100)
Adjustments
Add: Deferred income tax expense (benefit)¹	(426,800)	149,000)	67,100)	108,300)	91,700)
Add: Increase (decrease) in reserves for allowances	(3,600)	1,100)	5,800)	(11,300)	(5,200)
Add: Increase (decrease) in restructuring reserve	—)	—)	—)	(500)	(4,600)
Add: Other comprehensive income (loss), net of tax	192,900)	(162,800)	104,800)	76,100)	1,500)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	172,100)	60,900)	(400)	42,900)	131,000)
After Adjustment
Adjusted net income	1,490,700)	4,048,800)	6,065,800)	4,646,200)	2,753,500)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Deferred income tax expense (benefit). See details »

Download chart

Biogen Inc. (NASDAQ:BIIB)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income