- Income Tax Expense (Benefit)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
GlaxoSmithKline PLC, income tax expense (benefit), continuing operations
US$ in millions, translated from GBP £
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
Item | Description | The company |
---|---|---|
Current taxation | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | GlaxoSmithKline PLC current taxation decreased from 2012 to 2013 and from 2013 to 2014. |
Deferred taxation | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | GlaxoSmithKline PLC deferred taxation decreased from 2012 to 2013 and from 2013 to 2014. |
Taxation | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | GlaxoSmithKline PLC taxation decreased from 2012 to 2013 and from 2013 to 2014. |
Components of Deferred Tax Assets and Liabilities
GlaxoSmithKline PLC, components of deferred tax assets and liabilities
US$ in millions, translated from GBP £
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | GlaxoSmithKline PLC deferred tax assets decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level. |
Deferred tax assets (liabilities), net | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | GlaxoSmithKline PLC deferred tax assets (liabilities), net increased from 2012 to 2013 and from 2013 to 2014. |
Deferred Tax Assets and Liabilities, Classification
GlaxoSmithKline PLC, deferred tax assets and liabilities, classification
US$ in millions, translated from GBP £
Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | ||
---|---|---|---|---|---|---|
Deferred tax assets | 4,540) | 3,454) | 3,879) | 4,427) | 3,950) | |
Deferred tax liabilities | 752) | 1,148) | 1,633) | 1,277) | 1,088) |
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | GlaxoSmithKline PLC deferred tax assets decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level. |
Deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | GlaxoSmithKline PLC deferred tax liabilities decreased from 2012 to 2013 and from 2013 to 2014. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
GlaxoSmithKline PLC, Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | GlaxoSmithKline PLC adjusted net profit margin ratio improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | GlaxoSmithKline PLC adjusted total asset turnover ratio deteriorated from 2012 to 2013 and from 2013 to 2014. |
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. |
GlaxoSmithKline PLC adjusted financial leverage ratio decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | GlaxoSmithKline PLC adjusted ROE deteriorated from 2012 to 2013 but then improved from 2013 to 2014 not reaching 2012 level. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | GlaxoSmithKline PLC adjusted ROA deteriorated from 2012 to 2013 and from 2013 to 2014. |
GlaxoSmithKline PLC, Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
2014 Calculations
1 Net profit margin = 100 × Profit attributable to shareholders ÷ Turnover
= 100 × 4,655 ÷ 38,855 = 11.98%
2 Adjusted net profit margin = 100 × Adjusted profit attributable to shareholders ÷ Turnover
= 100 × 3,633 ÷ 38,855 = 9.35%
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | GlaxoSmithKline PLC adjusted net profit margin ratio improved from 2012 to 2013 but then deteriorated significantly from 2013 to 2014. |
Adjusted Total Asset Turnover
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
2014 Calculations
1 Total asset turnover = Turnover ÷ Total assets
= 38,855 ÷ 68,656 = 0.57
2 Adjusted total asset turnover = Turnover ÷ Adjusted total assets
= 38,855 ÷ 64,116 = 0.61
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | GlaxoSmithKline PLC adjusted total asset turnover ratio deteriorated from 2012 to 2013 and from 2013 to 2014. |
Adjusted Financial Leverage
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
2014 Calculations
1 Financial leverage = Total assets ÷ Shareholders’ equity
= 68,656 ÷ 7,200 = 9.54
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity
= 64,116 ÷ 3,412 = 18.79
Solvency ratio | Description | The company |
---|---|---|
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. |
GlaxoSmithKline PLC adjusted financial leverage ratio decreased from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level. |
Adjusted Return on Equity (ROE)
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
2014 Calculations
1 ROE = 100 × Profit attributable to shareholders ÷ Shareholders’ equity
= 100 × 4,655 ÷ 7,200 = 64.65%
2 Adjusted ROE = 100 × Adjusted profit attributable to shareholders ÷ Adjusted shareholders’ equity
= 100 × 3,633 ÷ 3,412 = 106.49%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | GlaxoSmithKline PLC adjusted ROE deteriorated from 2012 to 2013 but then improved from 2013 to 2014 not reaching 2012 level. |
Adjusted Return on Assets (ROA)
Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).
2014 Calculations
1 ROA = 100 × Profit attributable to shareholders ÷ Total assets
= 100 × 4,655 ÷ 68,656 = 6.78%
2 Adjusted ROA = 100 × Adjusted profit attributable to shareholders ÷ Adjusted total assets
= 100 × 3,633 ÷ 64,116 = 5.67%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | GlaxoSmithKline PLC adjusted ROA deteriorated from 2012 to 2013 and from 2013 to 2014. |