Selected Financial Data
since 2005
Income Statement
Allergan PLC, selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Net revenues | Operating income (loss) | Net income (loss) attributable to shareholders |
|---|---|---|---|
| Dec 31, 2019 | 16,088,900) | (4,445,300) | (5,271,000) |
| Dec 31, 2018 | 15,787,400) | (6,247,600) | (5,096,400) |
| Dec 31, 2017 | 15,940,700) | (5,921,200) | (4,125,500) |
| Dec 31, 2016 | 14,570,600) | (1,825,500) | 14,973,400) |
| Dec 31, 2015 | 15,071,000) | (3,014,500) | 3,915,200) |
| Dec 31, 2014 | 13,062,300) | (1,267,700) | (1,630,500) |
| Dec 31, 2013 | 8,677,600) | (423,200) | (750,400) |
| Dec 31, 2012 | 5,914,900) | 320,800) | 97,300) |
| Dec 31, 2011 | 4,584,400) | 536,200) | 260,900) |
| Dec 31, 2010 | 3,566,900) | 305,400) | 184,400) |
| Dec 31, 2009 | 2,793,000) | 383,900) | 222,000) |
| Dec 31, 2008 | 2,535,501) | 358,128) | 238,379) |
| Dec 31, 2007 | 2,496,651) | 255,660) | 141,030) |
| Dec 31, 2006 | 1,979,244) | (422,096) | (445,005) |
| Dec 31, 2005 | 1,646,203) | 218,512) | 138,233) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 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), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The revenue profile exhibits a consistent long-term growth trajectory, increasing from approximately 1.6 billion USD in 2005 to over 16 billion USD by 2019. A period of rapid acceleration occurred between 2012 and 2014, during which revenues more than doubled. Following 2014, top-line growth stabilized, with annual revenues maintaining a range between 14.5 billion and 16.1 billion USD.
- Operating Performance Trends
- Operating income remained relatively stable and predominantly positive through 2012. However, a structural shift occurred in 2013, marking the beginning of a period of consecutive and expanding operating losses. The operating deficit peaked in 2018 at approximately 6.2 billion USD, demonstrating a significant decoupling between revenue growth and operational profitability.
- Net Income Volatility
- Net income exhibits extreme variance over the observed period. While the company remained generally profitable through 2012, it entered a phase of high volatility starting in 2013. Significant anomalies are observed in 2015 and 2016, where net income spiked to 3.9 billion USD and 15 billion USD respectively, despite the presence of substantial operating losses. These spikes suggest the impact of non-operating gains or one-time accounting adjustments. From 2017 through 2019, the company returned to a pattern of significant net losses, ranging from 4.1 billion to 5.3 billion USD.
- Analysis of Profitability Margins
- A critical divergence is observed between net revenues and operating margins. In the early years of the data set, revenue growth was supported by positive operating income. In the latter half of the period, specifically from 2013 onward, the operating margin became deeply negative. This indicates that the costs associated with operations grew at a rate that far exceeded the increase in net revenues, leading to a deterioration of operational efficiency.
AI Ask an analyst for more
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?
Balance Sheet: Assets
Allergan PLC, selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2019 | 11,126,700) | 94,699,100) |
| Dec 31, 2018 | 6,475,400) | 101,787,600) |
| Dec 31, 2017 | 11,376,700) | 118,341,900) |
| Dec 31, 2016 | 17,857,900) | 128,986,300) |
| Dec 31, 2015 | 8,615,400) | 135,840,700) |
| Dec 31, 2014 | 6,881,700) | 52,529,100) |
| Dec 31, 2013 | 4,434,700) | 22,725,900) |
| Dec 31, 2012 | 3,879,700) | 14,103,500) |
| Dec 31, 2011 | 2,569,700) | 6,698,300) |
| Dec 31, 2010 | 1,799,400) | 5,827,300) |
| Dec 31, 2009 | 1,771,000) | 5,992,200) |
| Dec 31, 2008 | 1,458,417) | 3,677,887) |
| Dec 31, 2007 | 1,173,776) | 3,472,027) |
| Dec 31, 2006 | 1,261,676) | 3,760,577) |
| Dec 31, 2005 | 1,360,430) | 3,080,033) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 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), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
An analysis of the balance sheet indicates two distinct financial phases: a period of exponential asset expansion followed by a gradual contraction and stabilization. From 2005 through 2011, the asset base grew moderately, but the period between 2012 and 2015 saw a massive increase in total assets, which peaked at US$ 135.84 billion in 2015.
- Total Asset Expansion and Contraction
- A significant surge in total assets occurred between 2013 and 2015, where the balance sheet expanded from US$ 22.73 billion to US$ 135.84 billion. This trajectory suggests substantial capital investment or major acquisition activity during this window. Following the 2015 peak, total assets entered a consistent downward trend, declining to US$ 94.70 billion by 2019, representing a reduction of approximately 30% from the peak value.
- Current Asset Volatility
- Current assets exhibited a general upward trend from 2007 (US$ 1.17 billion) until 2016, when they reached a peak of US$ 17.86 billion. A sharp decline followed in 2017 and 2018, with current assets falling to US$ 6.48 billion. However, a recovery is observed in 2019, with current assets increasing back to US$ 11.13 billion.
- Asset Composition and Liquidity Shift
- The relationship between current assets and total assets shifted dramatically over the observed period. In 2005, current assets constituted approximately 44% of total assets. By the 2015 peak of total assets, current assets represented only about 6.3% of the total balance sheet. This shift indicates a significant increase in non-current assets, such as goodwill, intangible assets, or long-term investments, relative to liquid assets.
Overall, the balance sheet reflects a period of aggressive growth in long-term asset holdings between 2012 and 2015, succeeded by a period of balance sheet optimization and a reduction in total asset carrying values through 2019.
AI Ask an analyst for more
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?
Balance Sheet: Liabilities and Stockholders’ Equity
Allergan PLC, selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Total debt and capital leases | Shareholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2019 | 11,070,700) | 36,502,700) | 22,649,000) | 58,173,600) |
| Dec 31, 2018 | 5,727,900) | 36,656,600) | 23,797,700) | 65,114,100) |
| Dec 31, 2017 | 9,848,100) | 44,504,800) | 30,075,300) | 73,821,100) |
| Dec 31, 2016 | 7,874,700) | 52,785,800) | 32,768,700) | 76,192,700) |
| Dec 31, 2015 | 8,328,300) | 59,251,400) | 42,726,200) | 76,591,400) |
| Dec 31, 2014 | 5,018,600) | 24,193,600) | 15,543,700) | 28,331,100) |
| Dec 31, 2013 | 3,294,900) | 13,188,800) | 9,052,000) | 9,532,100) |
| Dec 31, 2012 | 2,710,600) | 10,247,100) | 6,433,300) | 3,833,800) |
| Dec 31, 2011 | 1,839,500) | 3,135,800) | 1,033,000) | 3,563,600) |
| Dec 31, 2010 | 820,700) | 2,544,700) | 1,016,100) | 3,281,700) |
| Dec 31, 2009 | 1,052,400) | 2,969,100) | 1,457,800) | 3,023,100) |
| Dec 31, 2008 | 481,995) | 1,569,302) | 877,893) | 2,108,585) |
| Dec 31, 2007 | 444,927) | 1,622,562) | 905,649) | 1,849,465) |
| Dec 31, 2006 | 689,929) | 2,080,189) | 1,231,204) | 1,680,388) |
| Dec 31, 2005 | 245,670) | 975,792) | 587,935) | 2,104,241) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 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), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The financial structure experienced a period of moderate stability from 2005 to 2013, followed by a period of extreme expansion between 2014 and 2015, and a subsequent phase of deleveraging and reorganization through 2019. The most significant transformation occurred in 2015, where both liabilities and equity reached historical peaks, suggesting a major capital event or corporate acquisition.
- Liability Growth and Deleveraging Patterns
- Total liabilities grew incrementally until 2013, after which they accelerated sharply from 13.2 billion in 2013 to 59.3 billion in 2015. Following this peak, a consistent downward trend is observed, with total liabilities reducing to 36.5 billion by 2019. This represents a significant reduction in the total obligation burden relative to the 2015 high.
- Debt and Capital Lease Dynamics
- Total debt and capital leases mirror the trend of total liabilities, peaking in 2015 at 42.7 billion. Between 2015 and 2019, there was a systematic reduction in long-term debt, falling to 22.6 billion. This indicates a strategic effort to reduce leveraged financing over the latter part of the decade.
- Equity Evolution
- Shareholders' equity remained relatively stable under 4 billion until 2012, then surged to 76.6 billion by 2015. This massive increase suggests a significant infusion of capital or a substantial revaluation of assets. After 2015, equity saw a gradual decline, ending at 58.2 billion in 2019, which may be attributed to share repurchases or dividend distributions.
- Short-Term Obligation Trends
- Current liabilities exhibit a divergent trend compared to total liabilities. While total debt decreased after 2015, current liabilities generally trended upward, rising from 8.3 billion in 2015 to 11.1 billion in 2019. This shift indicates an increasing proportion of the total liability structure is composed of short-term obligations, potentially impacting immediate liquidity requirements.
In summary, the period between 2014 and 2015 marked a fundamental shift in the capital structure, characterized by a massive increase in both leverage and equity. The subsequent years show a clear trend toward reducing total debt and total liabilities, although the growth in current liabilities suggests a shift toward shorter-term financing or operational obligations.
AI Ask an analyst for more
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?
Cash Flow Statement
Allergan PLC, selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2019 | 7,238,700) | (2,858,800) | (2,766,100) |
| Dec 31, 2018 | 5,640,100) | 3,098,500) | (9,680,100) |
| Dec 31, 2017 | 5,873,400) | (878,000) | (4,923,600) |
| Dec 31, 2016 | 1,425,300) | 24,333,300) | (25,122,100) |
| Dec 31, 2015 | 4,530,000) | (37,120,900) | 33,443,400) |
| Dec 31, 2014 | 2,243,000) | (5,370,600) | 3,017,500) |
| Dec 31, 2013 | 1,213,500) | (275,300) | (867,300) |
| Dec 31, 2012 | 665,800) | (5,749,000) | 5,189,600) |
| Dec 31, 2011 | 632,000) | (719,000) | 16,400) |
| Dec 31, 2010 | 571,000) | (74,100) | (411,300) |
| Dec 31, 2009 | 376,800) | (1,036,100) | 353,100) |
| Dec 31, 2008 | 416,554) | (93,357) | (20,173) |
| Dec 31, 2007 | 427,178) | (64,292) | (312,503) |
| Dec 31, 2006 | 471,365) | (1,419,419) | 634,774) |
| Dec 31, 2005 | 325,503) | 116,355) | (273,060) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 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), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The cash flow profile from 2005 to 2019 is characterized by a substantial long-term expansion in operating efficiency and a series of high-magnitude strategic investments and financing events. Operating cash flows exhibit a consistent upward trajectory, growing from approximately 325.5 million USD in 2005 to 7.2 billion USD by 2019, despite a notable contraction in 2016.
- Net Cash Provided by Operating Activities
- A sustained growth pattern is evident in operating cash flows. From 2005 to 2012, the company maintained a steady increase, roughly doubling its output. A period of rapid acceleration occurred between 2013 and 2015, with cash flow rising from 1.2 billion USD to 4.5 billion USD. After a significant decline to 1.4 billion USD in 2016, the trend resumed a strong upward path, peaking at 7.2 billion USD in 2019, indicating a robust capacity to generate cash from core business operations.
- Net Cash Used in Investing Activities
- Investing activities are marked by extreme volatility and large-scale capital allocations. While outflows were relatively modest in the early period, significant spikes in spending occurred in 2012 (5.7 billion USD) and 2014 (5.3 billion USD). The most prominent event occurred in 2015, with a massive cash outflow of 37.1 billion USD. This was followed by a substantial cash inflow of 24.3 billion USD in 2016 and another inflow of 3.1 billion USD in 2018, suggesting a strategy involving major acquisitions followed by strategic divestitures or asset liquidations.
- Net Cash Provided by or Used in Financing Activities
- Financing flows demonstrate a direct correlation with the company's investing cycles. Significant capital injections were observed in 2012, 2014, and most notably in 2015, where financing provided 33.4 billion USD, likely to fund the concurrent spike in investing activities. This was offset by aggressive deleveraging or shareholder returns in 2016, with a financing outflow of 25.1 billion USD, and further outflows in 2018 totaling 9.7 billion USD.
- Cash Flow Integration and Strategic Cycle
- The data reveals a clear cycle of aggressive expansion and consolidation. The period between 2014 and 2016 represents a transformative phase where massive external financing was utilized to fund large-scale investments, subsequently followed by significant divestments and debt repayment. Throughout these fluctuations, the underlying growth in operating cash flow suggests that the strategic investments successfully enhanced the company's fundamental cash-generating ability.
AI Ask an analyst for more
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?
Per Share Data
Allergan PLC, selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2019 | -16.02 | -16.02 | 2.96 |
| Dec 31, 2018 | -15.26 | -15.26 | 2.88 |
| Dec 31, 2017 | -13.19 | -13.19 | 2.80 |
| Dec 31, 2016 | 38.18 | 38.18 | 0.00 |
| Dec 31, 2015 | 10.01 | 10.01 | 0.00 |
| Dec 31, 2014 | -7.42 | -7.42 | 0.00 |
| Dec 31, 2013 | -5.27 | -5.27 | 0.00 |
| Dec 31, 2012 | 0.77 | 0.76 | 0.00 |
| Dec 31, 2011 | 2.10 | 2.06 | 0.00 |
| Dec 31, 2010 | 1.51 | 1.48 | 0.00 |
| Dec 31, 2009 | 2.11 | 1.96 | 0.00 |
| Dec 31, 2008 | 2.32 | 2.09 | 0.00 |
| Dec 31, 2007 | 1.38 | 1.27 | 0.00 |
| Dec 31, 2006 | -4.37 | -4.37 | 0.00 |
| Dec 31, 2005 | 1.32 | 1.21 | 0.00 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 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), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
The financial performance per share from 2005 to 2019 is characterized by extreme volatility in earnings and a late-stage shift in capital distribution policy. The earnings profile transitioned through several distinct phases, moving from modest fluctuations to significant losses, followed by a period of exceptional growth, and concluding with a sustained downward trend into negative territory.
- Earnings Per Share (EPS) Volatility
- Between 2005 and 2012, basic and diluted earnings per share exhibited moderate instability, generally remaining positive with the exception of a significant deficit in 2006. A more severe downturn began in 2013, with losses deepening through 2014. This was followed by a sharp reversal in 2015 and 2016, where basic EPS peaked at 38.18 USD, marking the highest point in the analyzed period. However, this peak was short-lived, as earnings collapsed starting in 2017, resulting in escalating losses that reached -16.02 USD by 2019.
- Basic versus Diluted EPS Correlation
- A high degree of correlation exists between basic and diluted earnings per share throughout the entire timeline. The marginal difference between these two metrics suggests a limited impact from dilutive securities, as both indicators mirrored the same peaks and troughs with near-identical values.
- Dividend Distribution Trends
- For the majority of the period from 2005 through 2016, no dividends were distributed. A strategic shift occurred in 2017 with the introduction of a dividend per share of 2.80 USD. Despite the simultaneous and significant decline in earnings per share during the 2017-2019 window, dividend payments were incrementally increased to 2.88 USD in 2018 and 2.96 USD in 2019.
- Earnings and Dividend Divergence
- A notable divergence is observed in the final three years of the period. While basic and diluted earnings per share entered a period of steep decline and sustained negativity, the dividend per share maintained a steady upward trajectory. This indicates a decoupling of dividend payments from current annual earnings performance.
AI Ask an analyst for more
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?