Adjustments to Financial Statements
Advanced level
Adjustments to Total Assets
Vertex Pharmaceuticals Inc., adjusted total assets
US$ in thousands
|
|
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).
Adjustments to Total Liabilities
Vertex Pharmaceuticals Inc., adjusted total liabilities
US$ in thousands
|
|
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).
Adjustments to Stockholders’ Equity
Vertex Pharmaceuticals Inc., adjusted total Vertex shareholders’ equity
US$ in thousands
|
|
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).
Adjustments to Capitalization Table
Vertex Pharmaceuticals Inc., adjusted capitalization table
US$ in thousands
|
|
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
|
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).
