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Analysis of Goodwill and Intangible Assets
Difficulty: Advanced
Goodwill and Intangible Assets Disclosure
Eli Lilly & Co., Statement of Financial Position, Goodwill and Intangible Assets
USD $ in thousands
Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |||||||
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Finite-lived intangible assets, gross | ![]() |
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Accumulated amortization | ![]() |
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Finite-lived intangible assets, net | ![]() |
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Acquired in-process research and development | ![]() |
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Indefinite-lived intangible assets | ![]() |
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Other intangibles | ![]() |
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Goodwill | ![]() |
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Goodwill and other intangibles | ![]() |
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Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
Item | Description | The company |
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Other intangibles | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Eli Lilly & Co.’s other intangibles declined from 2016 to 2017 and from 2017 to 2018. |
Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Eli Lilly & Co.’s goodwill increased from 2016 to 2017 but then slightly declined from 2017 to 2018. |
Goodwill and other intangibles | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Eli Lilly & Co.’s goodwill and other intangibles increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
Analyst Adjustments: Removal of Goodwill
Eli Lilly & Co., adjustments to financial data
USD $ in thousands
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
Eli Lilly & Co., Financial Data: Reported vs. Adjusted
Adjusted Ratios: Removal of Goodwill (Summary)
Eli Lilly & Co., adjusted ratios
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
Ratio | Description | The company |
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Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Eli Lilly & Co.’s adjusted total asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Eli Lilly & Co.’s adjusted financial leverage increased from 2016 to 2017 and from 2017 to 2018. |
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Eli Lilly & Co.’s adjusted ROE deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Eli Lilly & Co.’s adjusted ROA deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Eli Lilly & Co., Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
2018 Calculations
1 Total asset turnover = Revenue ÷ Total assets
= ÷
=
2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= ÷
=
Ratio | Description | The company |
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Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Eli Lilly & Co.’s adjusted total asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
2018 Calculations
1 Financial leverage = Total assets ÷ Total Eli Lilly and Company shareholders’ equity
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2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Eli Lilly and Company shareholders’ equity
= ÷
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Ratio | Description | The company |
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Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Eli Lilly & Co.’s adjusted financial leverage increased from 2016 to 2017 and from 2017 to 2018. |
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
2018 Calculations
1 ROE = 100 × Net income (loss) ÷ Total Eli Lilly and Company shareholders’ equity
= 100 × ÷
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2 Adjusted ROE = 100 × Net income (loss) ÷ Adjusted total Eli Lilly and Company shareholders’ equity
= 100 × ÷
=
Ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Eli Lilly & Co.’s adjusted ROE deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
2018 Calculations
1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × ÷
=
2 Adjusted ROA = 100 × Net income (loss) ÷ Adjusted total assets
= 100 × ÷
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Ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Eli Lilly & Co.’s adjusted ROA deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |