Illumina Inc., adjustment to net income attributable to Illumina stockholders

US$ in millions

12 months ended:	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Net income attributable to Illumina stockholders (as reported)	656)	1,002)	826)	726)	463)
Add: Unrealized gain (loss) on available-for-sale debt securities, net of deferred tax	(3)	6)	—)	—)	(1)
Net income attributable to Illumina stockholders (adjusted)	653)	1,008)	826)	726)	462)

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Illumina Inc., adjusted profitability ratios

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Net Profit Margin
Reported net profit margin	20.25%	28.28%	24.78%	26.38%	19.29%
Adjusted net profit margin	20.16%	28.45%	24.78%	26.38%	19.25%
Return on Equity (ROE)
Reported ROE	13.98%	21.72%	21.98%	26.41%	21.06%
Adjusted ROE	13.91%	21.85%	21.98%	26.41%	21.01%
Return on Assets (ROA)
Reported ROA	8.65%	13.70%	11.87%	13.81%	10.81%
Adjusted ROA	8.61%	13.78%	11.87%	13.81%	10.78%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Illumina Inc. adjusted net profit margin ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Illumina Inc. adjusted ROE deteriorated from 2018 to 2019 and from 2019 to 2020.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Illumina Inc. adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

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	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Profitability Ratio
Net profit margin¹	20.25%	28.28%	24.78%	26.38%	19.29%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Illumina stockholders	653)	1,008)	826)	726)	462)
Revenue	3,239)	3,543)	3,333)	2,752)	2,398)
Profitability Ratio
Adjusted net profit margin²	20.16%	28.45%	24.78%	26.38%	19.25%

2020 Calculations

¹ Net profit margin = 100 × Net income attributable to Illumina stockholders ÷ Revenue
= 100 × 656 ÷ 3,239 = 20.25%

² Adjusted net profit margin = 100 × Adjusted net income attributable to Illumina stockholders ÷ Revenue
= 100 × 653 ÷ 3,239 = 20.16%

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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.	Illumina Inc. adjusted net profit margin ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Profitability Ratio
ROE¹	13.98%	21.72%	21.98%	26.41%	21.06%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Illumina stockholders	653)	1,008)	826)	726)	462)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Profitability Ratio
Adjusted ROE²	13.91%	21.85%	21.98%	26.41%	21.01%

2020 Calculations

¹ ROE = 100 × Net income attributable to Illumina stockholders ÷ Total Illumina stockholders’ equity
= 100 × 656 ÷ 4,694 = 13.98%

² Adjusted ROE = 100 × Adjusted net income attributable to Illumina stockholders ÷ Total Illumina stockholders’ equity
= 100 × 653 ÷ 4,694 = 13.91%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Illumina Inc. adjusted ROE deteriorated from 2018 to 2019 and from 2019 to 2020.

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Illumina stockholders	656)	1,002)	826)	726)	463)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)
Profitability Ratio
ROA¹	8.65%	13.70%	11.87%	13.81%	10.81%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Illumina stockholders	653)	1,008)	826)	726)	462)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)
Profitability Ratio
Adjusted ROA²	8.61%	13.78%	11.87%	13.81%	10.78%

2020 Calculations

¹ ROA = 100 × Net income attributable to Illumina stockholders ÷ Total assets
= 100 × 656 ÷ 7,585 = 8.65%

² Adjusted ROA = 100 × Adjusted net income attributable to Illumina stockholders ÷ Total assets
= 100 × 653 ÷ 7,585 = 8.61%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Illumina Inc. adjusted ROA improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Illumina Inc. (NASDAQ:ILMN)

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