Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

AmerisourceBergen Corp., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	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
Revenue	66,947,043)	63,457,205)	62,846,832)	61,174,149)	60,064,601)	57,719,446)	59,628,810)	58,912,421)	53,405,695)	49,154,171)	52,516,556)	49,244,768)	45,366,777)	47,417,639)	47,864,742)	45,637,802)	45,239,265)	43,319,602)	45,392,452)	43,297,136)	43,142,309)	41,033,858)	40,466,332)	39,120,015)	38,707,144)	37,147,402)	38,169,265)
Cost of goods sold	(64,682,397)	(61,161,763)	(60,700,879)	(59,188,590)	(58,049,232)	(55,484,366)	(57,568,451)	(56,843,010)	(51,517,489)	(47,620,790)	(51,064,326)	(47,897,921)	(44,141,061)	(46,029,532)	(46,633,528)	(44,453,065)	(44,008,026)	(41,894,846)	(44,094,872)	(42,264,495)	(41,930,968)	(39,778,175)	(39,353,680)	(37,947,995)	(37,627,269)	(35,890,975)	(37,131,585)
Gross profit	2,264,646)	2,295,442)	2,145,953)	1,985,559)	2,015,369)	2,235,080)	2,060,359)	2,069,411)	1,888,206)	1,533,381)	1,452,230)	1,346,847)	1,225,716)	1,388,107)	1,231,214)	1,184,737)	1,231,239)	1,424,756)	1,297,580)	1,032,641)	1,211,341)	1,255,683)	1,112,652)	1,172,020)	1,079,875)	1,256,427)	1,037,680)
Distribution, selling, and administrative	(1,304,141)	(1,321,087)	(1,290,928)	(1,263,462)	(1,212,152)	(1,203,238)	(1,170,110)	(1,215,688)	(913,414)	(730,081)	(735,068)	(720,966)	(666,885)	(693,413)	(685,953)	(721,944)	(656,943)	(628,036)	(656,585)	(657,805)	(626,548)	(617,426)	(558,522)	(560,877)	(525,463)	(521,843)	(520,547)
Depreciation	(104,504)	(100,681)	(99,542)	(97,323)	(97,189)	(96,498)	(95,585)	(95,289)	(82,320)	(75,270)	(73,945)	(71,553)	(69,594)	(69,796)	(69,244)	(72,668)	(71,716)	(75,219)	(75,362)	(73,899)	(72,447)	(72,718)	(64,907)	(64,017)	(59,478)	(57,751)	(55,854)
Amortization	(169,768)	(140,785)	(72,398)	(73,239)	(74,925)	(78,792)	(80,344)	(82,432)	(44,781)	(25,527)	(25,608)	(25,784)	(25,821)	(23,999)	(35,271)	(35,877)	(35,880)	(48,547)	(47,138)	(46,659)	(47,598)	(46,670)	(40,229)	(40,318)	(40,041)	(39,918)	(40,226)
Litigation and opioid-related (expenses) credit	67,102)	(15,813)	(12,706)	29,404)	(67,870)	(52,090)	(32,635)	(96,410)	(226,964)	(78,156)	(70,381)	(6,641,681)	(58,585)	(67,732)	(39,309)	(174,407)	(60,006)	(55,389)	(40,672)	(40,497)	(75,553)	(37,449)	(30,021)	(641,810)	(284,517)	(11,934)	(21,066)
Acquisition, integration, and restructuring expenses	(83,207)	(156,557)	(37,236)	(126,420)	—)	(24,305)	(32,334)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of assets	—)	—)	—)	—)	—)	—)	(4,946)	(11,324)	—)	—)	—)	—)	—)	(223,652)	(138,000)	—)	—)	(570,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill impairment	—)	—)	—)	—)	(75,936)	—)	—)	(6,373)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(59,684)	—)	—)	—)	—)	—)	—)	—)
Operating expenses	(1,594,518)	(1,734,923)	(1,512,810)	(1,531,040)	(1,528,072)	(1,454,923)	(1,415,954)	(1,507,516)	(1,267,479)	(909,034)	(905,002)	(7,459,984)	(820,885)	(1,078,592)	(967,777)	(1,004,896)	(824,545)	(1,377,191)	(819,757)	(878,544)	(822,146)	(774,263)	(693,679)	(1,307,022)	(909,499)	(631,446)	(637,693)
Operating income (loss)	670,128)	560,519)	633,143)	454,519)	487,297)	780,157)	644,405)	561,895)	620,727)	624,347)	547,228)	(6,113,137)	404,831)	309,515)	263,437)	179,841)	406,694)	47,565)	477,823)	154,097)	389,195)	481,420)	418,973)	(135,002)	170,376)	624,981)	399,987)
Other income (loss), net	(3,436)	15,720)	6,328)	(20,656)	41,888)	948)	5,172)	46,637)	4,141)	(23,310)	14,268)	4,387)	(1,073)	1,109)	(2,842)	1,213)	342)	14,494)	(3,097)	820)	3,158)	(29,123)	(324)	(1,228)	(1,398)	5,233)	123)
Interest expense, net	(57,864)	(64,109)	(46,016)	(51,523)	(52,862)	(52,916)	(53,372)	(54,596)	(51,338)	(34,526)	(33,614)	(34,707)	(37,748)	(34,421)	(31,007)	(36,403)	(35,921)	(43,275)	(42,170)	(43,047)	(47,151)	(48,637)	(35,864)	(35,311)	(35,603)	(37,299)	(36,972)
Loss on consolidation of equity investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(42,328)	—)	—)	—)	—)	—)
Loss on early retirement of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(22,175)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(23,766)	—)	—)	—)	—)
Income (loss) before income taxes	608,828)	512,130)	593,455)	382,340)	476,323)	728,189)	596,205)	553,936)	573,530)	566,511)	527,882)	(6,143,457)	343,835)	276,203)	229,588)	144,651)	371,115)	18,784)	432,556)	111,870)	345,202)	361,332)	359,019)	(171,541)	133,375)	592,915)	363,138)
Income tax (expense) benefit	(129,615)	(83,917)	(117,285)	(83,664)	(113,120)	(172,944)	(146,789)	(117,488)	(278,082)	(132,506)	(149,175)	1,298,952)	(56,567)	694,908)	(43,020)	(12,344)	(69,113)	9,289)	(40,803)	82,134)	(67,327)	(79,172)	502,834)	(173,046)	(83,023)	(181,442)	(115,892)
Net income (loss)	479,213)	428,213)	476,170)	298,676)	363,203)	555,245)	449,416)	436,448)	295,448)	434,005)	378,707)	(4,844,505)	287,268)	971,111)	186,568)	132,307)	302,002)	28,073)	391,753)	194,004)	277,875)	282,160)	861,853)	(344,587)	50,352)	411,473)	247,246)
Net (income) loss attributable to noncontrolling interests	368)	7,189)	3,575)	(3,939)	43,761)	(7,231)	(311)	1,250)	(3,326)	1,262)	(3,862)	(1,567)	2,171)	(10,834)	1,072)	312)	(43)	(938)	1,899)	39,284)	(2,066)	5,295)	—)	—)	—)	—)	—)
Net income (loss) attributable to AmerisourceBergen Corporation	479,581)	435,402)	479,745)	294,737)	406,964)	548,014)	449,105)	437,698)	292,122)	435,267)	374,845)	(4,846,072)	289,439)	960,277)	187,640)	132,619)	301,959)	27,135)	393,652)	233,288)	275,809)	287,455)	861,853)	(344,587)	50,352)	411,473)	247,246)

Revenue Trends: The revenue demonstrates an overall upward trend from December 2016 through June 2023. Starting at approximately 38.2 billion USD in December 2016, it fluctuates moderately within quarters but rises consistently after 2019, reaching nearly 67 billion USD in June 2023. The growth is particularly notable from late 2019 onwards, indicating increased sales or expansion activities.
Cost of Goods Sold: Cost of goods sold (COGS) closely follows the upward trend of revenue, increasing steadily from roughly 37.1 billion USD at the end of 2016 to about 64.7 billion USD by mid-2023. This pattern maintains a relatively stable gross margin despite rising costs, suggesting effective management of cost relative to revenue growth.
Gross Profit: Gross profit exhibits variability but an overall increasing trend, starting at about 1.0 billion USD at the end of 2016 and peaking intermittently above 2.2 billion USD by the end of 2021. Despite some quarterly fluctuations, gross profit remains positive throughout the period, reflecting sustained operational profitability before expenses.
Distribution, Selling, and Administrative Expenses: These expenses show a rising trend, growing from approximately 520 million USD in late 2016 to over 1.3 billion USD by 2023. Notably, there is a sharp increase starting around 2020, peaking in the range of 1.2 billion USD to 1.3 billion USD. This increase may reflect investments in distribution, expansion, or inflationary pressures on administrative costs.
Depreciation and Amortization: Depreciation expenses increase gradually from about 56 million USD to over 104 million USD by mid-2023, consistent with asset growth or acquisitions. Amortization trends are less consistent; after steady values until 2019, there is a pronounced surge during 2023, reaching nearly 170 million USD, possibly linked to acquisition-related intangible assets.
Litigation and Opioid-Related Expenses/Credits: This item shows significant volatility, with large negative spikes in certain quarters, particularly a massive expense in September 2020 exceeding 6.6 billion USD, which dramatically impacts operating income and net results. This indicates extraordinary litigation-related charges considerably affecting financial performance during those periods.
Acquisition, Integration, and Restructuring Expenses: These expenses appear sporadically, with notable charges in 2022 and 2023, indicating ongoing restructuring efforts or acquisition costs. Their amounts, though substantial in individual quarters, are generally lower than litigation charges but may contribute to fluctuations in profitability.
Impairment and Goodwill Impairments: There are large, isolated impairment charges recorded in late 2018 and 2019, including goodwill impairment entries. These one-time expenses likely reduced net income significantly in affected periods, consistent with asset revaluations or write-downs arising from business changes.
Operating Expenses and Operating Income: Operating expenses show considerable increases with severe outliers corresponding to litigation periods, such as the extreme rise in September 2020. Operating income or loss follows a highly variable pattern with positive values and occasional sharp losses, notably the 6.1 billion USD loss in the third quarter of 2020, reflecting extraordinary events affecting operations.
Other Income (Loss) and Interest Expense: Other net income/loss remains small relative to other financial line items, fluctuating between gains and losses without a consistent pattern. Interest expense shows a slight upward trend over time, increasing from around 37 million USD to higher levels in later years, consistent with increased debt financing or changes in interest rates.
Income Before Income Taxes and Income Tax Expense: Income before income taxes aligns with operating income trends, showing marked volatility, including massive declines in 2020 correlated with litigation charges. Income tax expense exhibits variability and occasionally shows large benefits rather than expenses, likely due to tax credits or adjustments related to impairments and losses.
Net Income and Net Income Attributable to AmerisourceBergen Corporation: Net income reflects the high volatility, including significant positive spikes in some quarters and substantial losses during litigation-impacted periods in 2020. After 2020, net income stabilizes with rising trends, reaching consistent profits above 400 million USD per quarter by mid-2023. The amounts attributable to the parent company closely track consolidated net income, indicating minimal noncontrolling interest impact.

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AmerisourceBergen Corp. (NYSE:ABC)

Income Statement Quarterly Data

Income Statement
Quarterly Data