Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Allergan PLC (NYSE:AGN)

This company has been moved to the archive! The financial data has not been updated since May 7, 2020.

Common-Size Balance Sheet: Assets
Quarterly Data

Allergan PLC, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Cash and cash equivalents 1.13 2.64 1.31 1.73 0.80 0.86 1.11 1.54 0.89 1.54 1.36 0.71 0.86 1.34 5.26 0.37 1.66 0.81 1.45 1.10 1.52
Marketable securities 1.83 3.60 3.51 0.34 1.02 1.01 0.02 0.02 0.93 3.91 3.22 3.96 6.20 8.92 13.81 0.01 0.01 0.01 0.00 0.01 0.01
Accounts receivable, net of allowances for doubtful accounts and credit losses 3.17 3.37 3.19 3.23 2.79 2.82 2.65 2.54 2.36 2.45 2.36 2.24 2.00 1.96 1.67 1.88 1.95 1.77 1.50 3.19 2.86
Inventories 1.36 1.20 1.15 1.05 0.96 0.83 0.84 0.85 0.85 0.76 0.76 0.75 0.71 0.56 0.49 0.55 0.75 0.74 0.90 2.01 2.24
Current assets held for sale 0.00 0.00 0.00 0.00 0.05 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.32 3.20 2.58 2.61 2.66 0.03 0.10
Prepaid expenses and other current assets 0.97 0.94 1.00 2.63 0.80 0.80 0.75 0.67 0.69 0.95 0.81 0.70 1.03 1.07 0.54 0.59 0.47 0.41 0.52 0.73 0.73
Deferred tax assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.63 0.51 0.43
Current assets 8.45% 11.75% 10.16% 8.98% 6.42% 6.36% 5.39% 5.61% 5.71% 9.61% 8.50% 8.36% 10.80% 13.84% 22.09% 6.60% 7.42% 6.34% 11.66% 7.58% 7.90%
Property, plant and equipment, net 2.17 2.03 1.97 1.91 1.82 1.76 1.65 1.62 1.58 1.51 1.51 1.40 1.31 1.25 1.09 1.17 1.18 1.16 1.10 2.07 2.01
Right of use asset, operating leases 0.54 0.52 0.51 0.48 0.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments and other assets 0.49 0.43 0.39 0.35 2.02 1.94 0.28 0.27 0.24 0.23 0.23 0.23 0.22 0.22 0.24 0.27 0.30 0.43 0.35 0.38 0.37
Non current assets held for sale 0.04 0.03 0.03 0.03 0.92 0.87 0.16 0.17 0.06 0.07 0.01 0.01 0.02 0.02 0.14 8.14 7.82 7.76 7.40 0.00 0.00
Deferred tax assets 0.68 0.61 0.52 0.72 1.05 1.05 0.93 0.83 0.80 0.27 0.27 0.23 0.20 0.18 0.08 0.14 0.06 0.04 0.05 0.08 0.07
Product rights and other intangibles 41.01 40.01 41.87 43.18 43.11 42.93 45.17 45.87 46.93 46.18 47.65 50.00 49.67 48.55 43.89 48.61 48.90 50.01 47.01 52.61 53.21
Goodwill 46.63 44.61 44.56 44.34 44.20 45.11 46.42 45.64 44.69 42.13 41.83 39.76 37.78 35.94 32.47 35.07 34.34 34.27 32.43 37.28 36.44
Non current assets 91.55% 88.25% 89.84% 91.02% 93.58% 93.64% 94.61% 94.39% 94.29% 90.39% 91.50% 91.64% 89.20% 86.16% 77.91% 93.40% 92.58% 93.66% 88.34% 92.42% 92.10%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The asset structure is characterized by a heavy concentration in non-current assets, which consistently account for approximately 88% to 94% of the total asset base. This composition indicates a business model heavily reliant on intellectual property and acquired entities, with a relatively small proportion of the balance sheet dedicated to liquid or short-term assets.

Intangible Assets and Goodwill
A significant shift in the composition of non-current assets is observed between 2015 and 2020. Product rights and other intangibles exhibited a steady downward trend, declining from 53.21% of total assets in March 2015 to 41.01% by March 2020. Conversely, goodwill demonstrated a general upward trajectory, increasing from 36.44% to 46.63% over the same period. This inverse relationship suggests a transition where a larger portion of the asset base is attributed to the premium paid over fair value during acquisitions rather than specifically identified intangible product rights.
Liquidity and Current Asset Volatility
Current assets generally represent a small fraction of the total balance sheet, typically ranging between 5% and 12%. However, a notable liquidity surge occurred in late 2016, with current assets peaking at 22.09% in September 2016. This spike was primarily driven by a sharp increase in marketable securities, which rose to 13.81% in September 2016 before gradually normalizing. Cash and cash equivalents remained consistently low, generally fluctuating between 0.37% and 2.64%.
Working Capital Trends
Accounts receivable showed a gradual increase in its share of total assets, moving from 2.86% in early 2015 to 3.17% by March 2020. Inventories remained relatively stable and low, though a slight upward trend is observed in the final year, increasing from 0.83% in December 2018 to 1.36% in March 2020. Prepaid expenses and other current assets remained minimal, though a temporary spike to 2.63% was recorded in June 2019.
Strategic Divestitures and Structural Changes
The presence of both current and non-current assets held for sale between September 2015 and June 2016 indicates a period of portfolio restructuring. Non-current assets held for sale peaked at 8.14% in June 2016 before nearly disappearing from the balance sheet by late 2016. Additionally, the introduction of right-of-use assets for operating leases starting in March 2019, maintaining a level of approximately 0.46% to 0.54%, reflects changes in accounting standards regarding lease recognition.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?