Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Adjustments to Financial Statements

Advanced level

Adjustments to Total Assets

Vertex Pharmaceuticals Inc., adjusted total assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total assets 8,318,465  6,245,898  3,546,014  2,896,787  2,498,875 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  857,333  921,716  948,427  930,631 
Less: Deferred tax assets2 1,190,815  1,499,672  834  336  355 
After Adjustment
Adjusted total assets 7,127,650  5,603,559  4,466,896  3,844,878  3,429,151 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).

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

2 Deferred tax assets. See details »


Adjustments to Total Liabilities

Vertex Pharmaceuticals Inc., adjusted total liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total liabilities 2,233,221  1,810,695  1,503,708  1,558,596  1,405,247 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  857,333  921,716  948,427  930,631 
Less: Deferred tax liabilities2 —  —  6,341  134,063  110,439 
After Adjustment
Adjusted total liabilities 2,233,221  2,668,028  2,419,083  2,372,960  2,225,439 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).

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

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Vertex Pharmaceuticals Inc., adjusted total Vertex shareholders’ equity

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total Vertex shareholders’ equity 6,085,244  4,435,203  2,028,579  1,156,582  939,967 
Adjustments
Less: Net deferred tax assets (liabilities)1 1,190,815  1,499,672  (5,518) (133,727) (110,084)
Add: Noncontrolling interest —  —  13,727  181,609  153,661 
After Adjustment
Adjusted total shareholders’ equity 4,894,429  2,935,531  2,047,824  1,471,918  1,203,712 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Vertex Pharmaceuticals Inc., adjusted capitalization table

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Senior secured term loan, current portion —  —  —  —  71,478 
Credit facility —  —  —  300,000  — 
Current finance lease liabilities 30,293  5,271  —  —  — 
Long-term finance lease liabilities 538,576  581,550  583,902  521,335  515,534 
Senior secured term loan, excluding current portion —  —  —  —  223,969 
Total reported debt 568,869  586,821  583,902  821,335  810,981 
Total Vertex shareholders’ equity 6,085,244  4,435,203  2,028,579  1,156,582  939,967 
Total reported capital 6,654,113  5,022,024  2,612,481  1,977,917  1,750,948 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  857,333  921,716  948,427  930,631 
Add: Current operating lease liabilities (included in Other current liabilities)2 11,504  —  —  —  — 
Add: Long-term operating lease liabilities3 84,292  —  —  —  — 
Adjusted total debt 664,665  1,444,154  1,505,618  1,769,762  1,741,612 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 1,190,815  1,499,672  (5,518) (133,727) (110,084)
Add: Noncontrolling interest —  —  13,727  181,609  153,661 
Adjusted total shareholders’ equity 4,894,429  2,935,531  2,047,824  1,471,918  1,203,712 
After Adjustment
Adjusted total capital 5,559,094  4,379,685  3,553,442  3,241,680  2,945,324 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).

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

2 Current operating lease liabilities (included in Other current liabilities). See details »

3 Long-term operating lease liabilities. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Reported Income

Vertex Pharmaceuticals Inc., adjusted net income (loss) attributable to Vertex

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Net income (loss) attributable to Vertex 1,176,810  2,096,896  263,484  (112,052) (556,334)
Adjustments
Add: Deferred income tax expense (benefit)1 167,387  (1,512,252) (127,484) 16,856  298 
Add: Changes in other comprehensive income (loss) (2,632) 36,351  (32,745) 19,349  907 
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest —  (9,793) (171,849) 28,021  (31,847)
After Adjustment
Adjusted net income (loss) 1,341,565  611,202  (68,594) (47,826) (586,976)

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).

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