Stock Analysis on Net
Stock Analysis on Net

AmerisourceBergen Corp. (NYSE:ABC)

This company has been moved to the archive! The financial data has not been updated since August 2, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

AmerisourceBergen Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017
Accounts payable 71.06 66.29 71.61 72.46 71.24 71.93
Accrued expenses and other 3.92 4.98 3.72 2.70 2.34 3.97
Short-term debt 1.89 0.52 1.13 0.35 0.40 0.03
Liabilities held for sale 0.00 0.33 0.00 0.00 0.00 0.00
Current liabilities 76.87% 72.13% 76.46% 75.52% 73.98% 75.94%
Long-term debt, net of current portion 8.19 11.13 8.17 10.30 11.04 9.71
Long-term financing obligation 0.00 0.00 0.00 0.82 0.94 1.00
Accrued income taxes 0.57 0.49 0.64 0.73 0.80 0.24
Deferred income taxes 2.86 2.94 1.55 4.75 4.86 7.06
Other liabilities 1.73 1.89 1.07 0.25 0.29 0.21
Accrued litigation liability 9.66 10.40 14.00 0.00 0.00 0.00
Noncurrent liabilities 23.00% 26.85% 25.44% 16.84% 17.92% 18.22%
Total liabilities 99.87% 98.98% 101.90% 92.36% 91.90% 94.15%
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 10.00 9.53 11.48 12.38 12.52 12.79
Retained earnings 5.26 2.91 1.17 10.81 9.88 6.78
Accumulated other comprehensive loss -3.24 -0.78 -0.25 -0.29 -0.21 -0.27
Treasury stock, at cost -12.41 -11.28 -14.71 -15.57 -14.41 -13.46
Total AmerisourceBergen Corporation stockholders’ equity (deficit) -0.37% 0.39% -2.30% 7.35% 7.79% 5.85%
Noncontrolling interests 0.50 0.63 0.40 0.29 0.31 0.00
Total stockholders’ equity 0.13% 1.02% -1.90% 7.64% 8.10% 5.85%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

Accounts Payable
The proportion of accounts payable relative to total liabilities and stockholders' equity remained fairly stable between 71% and 72% from 2017 to 2020, dropped to 66.29% in 2021, and rebounded to 71.06% in 2022. This indicates a sustained significant reliance on accounts payable as a component of the company's obligations, with a noticeable dip in 2021.
Accrued Expenses and Other
This category showed fluctuations over the period. It started at 3.97% in 2017, decreased to a low of 2.34% in 2018, then gradually increased to peak at 4.98% in 2021, before slightly declining to 3.92% in 2022. The variability suggests changing levels of accrued costs and other liabilities impacting the short-term obligations.
Short-Term Debt
Short-term debt levels were minimal initially, growing from 0.03% in 2017 to 1.13% in 2020, before decreasing to 0.52% in 2021, and rising again to 1.89% in 2022. This pattern reflects an increased and somewhat fluctuating use of short-term borrowings as part of the company's financing strategy in recent years.
Liabilities Held for Sale
Reported solely in 2021 at 0.33%, indicating the presence of liabilities related to assets classified as held for sale during that year. No data is provided for other periods.
Current Liabilities
The percentage of current liabilities relative to total funding fluctuated between 72.13% and 76.87% over the six-year span. There is a slight upward trend noted in 2022, signaling a predominance of short-term obligations within the company’s capital structure.
Long-Term Debt, Net of Current Portion
This metric showed variability without a clear directional trend, starting at 9.71% in 2017, peaking at 11.13% in 2021, and then falling back to 8.19% by 2022. The levels suggest intermittent adjustments in long-term borrowing relative to total funding.
Long-Term Financing Obligation
Values decreased gradually from 1% in 2017 to 0.82% in 2019 and are not reported beyond 2019, indicating a possible reduction or reclassification of long-term financing obligations after that year.
Accrued Income Taxes
This category showed minor fluctuations, generally remaining below 1%, ranging from 0.24% in 2017 to 0.57% in 2022, reflecting relatively consistent income tax liabilities accrued over time.
Deferred Income Taxes
There was a notable decline from 7.06% in 2017 to a low of 1.55% in 2020, followed by modest increases in 2021 and 2022 (2.94% and 2.86%, respectively). This indicates a substantial reduction in deferred tax liabilities mid-period, with a slight build-up more recently.
Other Liabilities
Other liabilities remained low but increased from 0.21% in 2017 to 1.89% in 2021, before slightly decreasing to 1.73% in 2022. The upward trend points to growing miscellaneous obligations within the liability structure.
Accrued Litigation Liability
Reported only from 2020 onwards, this liability was significant at 14% in 2020, then declined to 10.4% in 2021 and further to 9.66% in 2022. This suggests the presence of notable litigation-related liabilities beginning in 2020 that have steadily decreased since.
Noncurrent Liabilities
Noncurrent liabilities increased substantially from around 18% in 2017-2019 to 25.44% in 2020 and 26.85% in 2021, before declining to 23% in 2022. The surge corresponds with the rise in accrued litigation liabilities and other long-term obligations during those years.
Total Liabilities
Total liabilities represented a dominant portion of the capital structure, increasing from approximately 91-94% during 2017-2019 to over 100% in 2020, slightly decreasing but remaining near 99% in 2021 and 2022, indicating an increased leverage position in 2020 and sustained high liabilities thereafter.
Common Stock and Additional Paid-in Capital
Common stock remained constant at 0.01% throughout. Additional paid-in capital decreased steadily from 12.79% in 2017 to 9.53% in 2021, with a slight increase to 10% in 2022, indicating a reduction and then modest recovery in equity contributions or capital surplus.
Retained Earnings
Retained earnings grew from 6.78% in 2017 to a peak of 10.81% in 2019, then sharply fell to 1.17% in 2020 before recovering to 5.26% in 2022, showing volatility potentially linked to profitability and dividend activities during this period.
Accumulated Other Comprehensive Loss
Losses increased negatively from -0.27% in 2017 to a more pronounced -3.24% in 2022, reflecting increased unrealized losses or adjustments impacting equity comprehensively.
Treasury Stock, at Cost
Treasury stock steadily increased in absolute terms from -13.46% in 2017 to a peak of -15.57% in 2019, then decreased to -11.28% in 2021 before rising again to -12.41% in 2022. The fluctuations suggest active repurchase and retirement of shares affecting equity.
Total Stockholders’ Equity (Deficit)
Equity as a percentage of total liabilities and equity increased from 5.85% in 2017 to 7.79% in 2018 but fell into negative territory at -2.3% in 2020, recovering slightly to 0.39% in 2021 and declining marginally to -0.37% in 2022. This indicates periods of equity deficits, reflecting financial pressures or losses during 2020.
Noncontrolling Interests
Noncontrolling interests were minimal, slightly increasing from 0.31% in 2018 to 0.63% in 2021, then decreasing to 0.5% in 2022, indicating stable but small minority equity stakes.
Total Stockholders’ Equity
Total stockholders' equity mirrored the trends in equity and noncontrolling interests combined, moving from 5.85% in 2017 to a low of -1.9% in 2020, before recovering slightly to 1.02% in 2021 and settling near zero at 0.13% in 2022. This modest equity base contrasts strongly with the high liability levels, underscoring a highly leveraged capital structure.
Overall Capital Structure
The company exhibits a capital structure dominated by liabilities, consistently exceeding 90% of total liabilities and stockholders’ equity, and reaching above 100% during 2020. The relatively low and volatile equity proportion, at times negative, suggests episodes of financial strain or write-downs impacting net worth. Significant fluctuations in accrued litigation liabilities and deferred income taxes also influenced the liability side markedly during the period analyzed.