Stock Analysis on Net
Stock Analysis on Net

Allergan Inc. (NYSE:AGN.)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 19, 2015.

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Allergan Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Notes payable
Convertible notes
Accounts payable
Accrued compensation
Sales rebates and other incentive programs
Royalties
Interest
Sales returns, specialty pharmaceutical products
Legal settlement expenses
Product warranties, breast implant products
Contingent consideration
Investment bank advisory fees
Annual branded prescription drug fee
Restructuring charges
Other
Other accrued expenses
Income taxes
Current liabilities
Long-term debt, excluding current maturities
Postretirement benefit plan
Qualified and non-qualified pension plans
Deferred executive compensation
Deferred income
Contingent consideration
Product warranties, breast implant products
Unrecognized tax benefit liabilities
Other
Other liabilities
Non-current liabilities
Total liabilities
Preferred stock, $.01 par value; none issued
Common stock, $.01 par value
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Treasury stock, at cost
Total Allergan, Inc. stockholders’ equity
Noncontrolling interest
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

Current Liabilities
Current liabilities displayed fluctuations over the observed period. After a peak in 2010 at $1,528,400 thousand, current liabilities decreased significantly in 2011 to $955,000 thousand, before trending upwards again to reach $1,557,300 thousand by 2014. This increase was supported by a rise in accounts payable, accrued compensation, and sales rebates, indicating increasing operational obligations.
Long-term Debt
Long-term debt remained relatively steady from 2010 through 2012 at approximately $1,512,000 thousand, but surged notably to over $2 billion in 2013 and remained around this level in 2014. This suggests increased leverage or financing activities in the recent years assessed.
Other Accrued Expenses and Other Liabilities
Other accrued expenses showed a strong upward trajectory, particularly between 2013 and 2014, when they jumped sharply from $597,500 thousand to $905,000 thousand. Similarly, other liabilities increased steadily throughout the period, reflecting growing obligations that may be linked to operational or non-operational commitments.
Contingent Consideration
Contingent consideration exhibited significant volatility, starting from no reported amounts in 2010, rising sharply to $209,700 thousand in 2011, fluctuating in subsequent years, and reaching $312,100 thousand by 2014, highlighting potential acquisition-related liabilities or other contingent events.
Total Liabilities
Total liabilities declined from $3,527,000 thousand in 2010 to $3,176,200 thousand in 2011, then increased consistently, reaching $4,652,700 thousand in 2014. The overall upward trend, especially post-2011, indicates growing financial obligations.
Stockholders’ Equity
Stockholders’ equity generally increased over the period, rising from $4,757,700 thousand in 2010 to $7,753,000 thousand in 2014, demonstrating growth in net assets attributable to shareholders. This growth was primarily driven by increased retained earnings and additional paid-in capital.
Retained Earnings and Additional Paid-in Capital
Retained earnings showed strong and consistent growth each year, from $2,225,900 thousand in 2010 to $5,894,800 thousand in 2014, reflecting cumulative profitability. Additional paid-in capital also increased steadily, indicating ongoing equity financing or capital contributions.
Treasury Stock
Treasury stock increased significantly in absolute terms (negative values increasing), indicating substantial repurchase of shares during the period, which could be a strategy for capital structure management or stock price support.
Accumulated Other Comprehensive Loss
The accumulated other comprehensive loss deepened over the years, particularly notable in 2014 with a $408,600 thousand loss. This suggests increased unrealized losses or accounting adjustments affecting comprehensive income.
Noncontrolling Interest
Noncontrolling interest remained low in absolute terms but exhibited some fluctuation, decreasing notably in 2013 and recovering slightly afterward, indicating changes in ownership interest of subsidiaries.
Other Expense and Income Items
Sales rebates and incentive programs showed a strong upward trend, particularly rising sharply in 2014, which may impact net sales recognition and margins. Sales returns of specialty pharmaceutical products also increased consistently, indicating potential shifts in product performance or customer returns. Interest expenses generally increased, reflecting higher debt levels. Legal settlement expenses appear only once in 2010, suggesting a one-time charge. Restructuring charges appeared substantially in 2014, indicating cost-saving initiatives or organizational changes.
Summary of Observations
Overall, the data reflects a company experiencing growth in financial scale with increasing liabilities and equity, consistent profit retention, and strategic financing activities. The rising debt levels alongside increased accrued expenses and contingent liabilities suggest expanding operations or investments funded partly through debt. The increasing treasury stock and restructuring charges indicate active capital and operational management efforts.