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AmerisourceBergen - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

AmerisourceBergen (ISIN: US03073E1055, WKN: 766149) Kursdatum: 21.07.2017 Kurs: 91,620 USD
Beschreibung Daten
Symbol ABC
Marktkapitalisierung 20.702.363.648,00 USD
Land Vereinigte Staaten von Amerika
Indizes S&P 500
Sektor Pharma
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2009-06-16 - 2:1 | 2005-12-29 - 2:1 | 1999-03-25 - 2:1 |
Internet
Letztes Bilanz Update 22.11.2016

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
7,63 6,51 1,48% 4,24 6,33 14,50 0,14 9,72

Firmenbeschreibung

Quarterly Financial Information (Unaudited)  Fiscal Year Ended September 30, 2016(in thousands, except per share amounts) FirstQuarter SecondQuarter ThirdQuarter FourthQuarter Fiscal Year  (As Revised) (As Revised) (As Revised)    Revenue $36,709,046 $35,698,357 $36,881,680 $37,560,603 $146,849,686Gross profit (a) $964,877 $1,075,331 $1,107,863 $1,124,535 $4,272,606Distribution, selling, and administrative expenses; depreciation; and amortization 608,039 612,302 610,706 624,925 2,455,972Warrants expense (income) 467,375 (503,946) (83,704) 260,617 140,342Employee severance, litigation, and other and pension settlement 67,599 16,493 52,234 14,192 150,518Operating (loss) income $(178,136) $950,482 $528,627 $224,801 $1,525,774Net income $329,639 $603,450 $349,155 $145,685 $1,427,929Earnings per share operations:          Basic $1.60 $2.90 $1.62 $0.66 $6.73Diluted $1.45 $2.68 $1.55 $0.64 $6.32__________________________________________________________(a)The first and third quarters of fiscal 2016 include gains of $12.8 million and $121.0 million, respectively, from antitrust litigation settlements. The first, second, and third quarters of fiscal 2016 include LIFO charges of $101.6 million, $92.4 million, and $80.4 million, respectively. The fourth quarter of fiscal 2016 includes a LIFO credit of $74.1 million.(b)The Company revised its previously reported quarterly financial information to correct its accounting for certain leases (see Note 2).  Fiscal Year Ended September 30, 2015(in thousands, except per share amounts) First Quarter Second Quarter ThirdQuarter FourthQuarter FiscalYear  (As Revised) (As Revised)

Firmenstrategie

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as of the dates and for the fiscal years indicated. All intercompany accounts and transactions have been eliminated in consolidation.

RevenueRecognitionPolicyTextBlock

The Company recognizes revenue when persuasive evidence of an arrangement exists, product has been delivered or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. Revenue, as reflected in the accompanying consolidated statements of operations, is net of estimated sales returns and allowances.

The Company's customer sales return policy generally allows customers to return products only if the products can be resold at full value or returned to suppliers for full credit. The Company records an accrual for estimated customer sales returns at the time of sale to the customer. At September 30, 2016 and 2015, the Company's accrual for estimated customer sales returns was $856.3 million and $841.3 million, respectively.

The Company reports the gross dollar amount of bulk deliveries to customer warehouses in revenue and the related costs in cost of goods sold. Bulk delivery transactions are arranged by the Company at the express direction of the customer, and involve either drop shipments from the supplier directly to customers' warehouse sites or cross-dock shipments from the supplier to the Company for immediate shipment to the customers' warehouse sites. The Company is a principal to these transactions because it is the primary obligor and has the ultimate and contractual responsibility for fulfillment and acceptability of the products purchased, and it bears full risk of delivery and loss for products, whether the products are drop-shipped or shipped via cross-dock. The Company also bears full credit risk associated with the creditworthiness of any bulk delivery customer. As a result, the Company records bulk deliveries to customer warehouses as gross revenues. Gross profit earned by the Company on bulk deliveries was not material in any year presented.

SegmentReportingDisclosureTextBlock

Business Segment Information

The Company is organized based upon the products and services it provides to its customers. The Company's operations are comprised of the Pharmaceutical Distribution reportable segment and Other. The Pharmaceutical Distribution reportable segment consists of the ABDC and ABSG operating segments. Other consists of the AmerisourceBergen Consulting Services ("ABCS"), World Courier Group, Inc. ("World Courier"), and MWI operating segments.

The Company has aggregated the operating segments of ABDC and ABSG into one reportable segment, the Pharmaceutical Distribution segment. The results of operations of the ABCS, World Courier, and MWI operating segments are not significant enough to require separate reportable segment disclosure, and, therefore, have been included in Other for the purpose of reportable segment presentation.

The Company's ability to aggregate ABDC and ABSG into one reportable segment was based on the following:

the objective and basic principles of ASC 280;
the aggregation criteria as noted in ASC 280; and
the fact that ABDC and ABSG have similar economic characteristics.

The chief operating decision maker ("CODM") for the Company is the Chairman, President, and Chief Executive Officer of the Company whose function is to allocate resources to, and assess the performance of, the ABDC and ABSG operating segments. ABDC and ABSG each has an executive who functions as an operating segment manager whose role includes reporting directly to the Chairman, President, and Chief Executive Officer of the Company on their respective operating segment's business activities, financial results, and operating plans.

The businesses of the Pharmaceutical Distribution operating segments are similar in that they service both healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel. The distribution of pharmaceutical drugs has historically represented more than 95% of the Company's revenues. ABDC and ABSG each operate in a high volume and low margin environment and, as a result, their economic characteristics are similar. Each operating segment warehouses and distributes products in a similar manner. Additionally, each operating segment is subject, in whole or in part, to the same extensive regulatory environment under which the pharmaceutical distribution industry operates.

ABDC distributes a comprehensive offering of brand-name and generic pharmaceuticals (including specialty pharmaceutical products), over-the-counter healthcare products, home healthcare supplies and equipment, outsourced CSPs, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers. ABDC also provides pharmacy management, staffing and additional consulting services, and supply management software to a variety of retail and institutional healthcare providers. Additionally, ABDC delivers packaging solutions to institutional and retail healthcare providers.

ABSG, through a number of operating businesses, provides distribution and additional services to physicians who specialize in a variety of disease states, especially oncology, and to other healthcare providers, including hospitals and dialysis clinics. ABSG also distributes plasma and other blood products, injectible pharmaceuticals, vaccines, and other specialty products. Additionally, ABSG provides third party logistics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers.

The Company's use of the terms "specialty" and "specialty pharmaceutical products" refers to drugs used to treat complex diseases, such as cancer, diabetes, and multiple sclerosis. Specialty pharmaceutical products are part of complex treatment regimens for serious conditions and diseases that generally require ongoing clinical monitoring. The Company believes the terms "specialty" and "specialty pharmaceutical products" are used consistently by industry participants and its competitors. However, the Company cannot be certain that other distributors of specialty products define these and other similar terms in exactly the same manner as the Company does.

Both ABDC and ABSG distribute specialty drugs to their customers, with the principal difference between these two operating segments being that ABSG operates distribution facilities that focus primarily on complex disease treatment regimens. Therefore, a product distributed from one of ABSG's distribution facilities results in revenue reported under ABSG, and a product distributed from one of ABDC's distribution centers results in revenue reported under ABDC. Essentially, all of ABSG's sales consist of specialty pharmaceutical products. ABDC sales of specialty pharmaceutical products have historically been a relatively small component of its overall revenue.

As noted above, Other consists of the ABCS, World Courier, and MWI operating segments. ABCS, through a number of operating businesses, provides commercialization support services including reimbursement support programs, outcomes research, contract field staffing, patient assistance and co-pay assistance programs, adherence programs, risk mitigation services, and other market access programs to pharmaceutical and biotechnology manufacturers. World Courier, which operates in over 50 countries, is a leading global specialty transportation and logistics provider for the biopharmaceutical industry. MWI is a leading animal health distribution company in the United States and in the United Kingdom. MWI sells pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and various other products to customers in both the companion animal and production animal markets.

The following tables illustrate reportable segment information for the periods indicated (in thousands):

 
 
Revenue
Fiscal year ended September 30,
 
2016
 
2015
 
2014
Pharmaceutical Distribution
 
$
140,731,224

 
$
131,480,550

 
$
117,383,967

Other
 
6,386,917

 
4,772,178

 
2,449,149

Intersegment eliminations
 
(268,455
)
 
(290,925
)
 
(263,989
)
Revenue
 
$
146,849,686

 
$
135,961,803

 
$
119,569,127


Intersegment eliminations primarily represent the elimination of certain ABCS sales to the Pharmaceutical Distribution reportable segment.

 
 
Segment Operating Income
Fiscal year ended September 30,
 
2016
 
2015
 
2014
 
 
 
 
(As Revised)
 
(As Revised)
Pharmaceutical Distribution
 
$
1,688,055

 
$
1,649,741

 
$
1,409,199

Other
 
342,416

 
254,506

 
150,617

Intersegment eliminations
 
(103
)
 

 

Total segment operating income
 
$
2,030,368

 
$
1,904,247

 
$
1,559,816


The following table reconciles total segment operating income to income from continuing operations before income taxes (in thousands):

EarningsPerSharePolicyTextBlock

 
 
Income From Continuing Operations
Before Income Taxes
Fiscal year ended September 30,
 
2016
 
2015
 
2014
 
 
 
 
(As Revised)
 
(As Revised)
Total segment operating income
 
$
2,030,368

 
$
1,904,247

 
$
1,559,816

Gain from antitrust litigation settlements
 
133,758

 
65,493

 
24,436

LIFO expense
 
(200,230
)
 
(542,807
)
 
(348,063
)
Acquisition-related intangibles amortization
 
(147,262
)
 
(54,095
)
 
(23,167
)
Warrants expense
 
(140,342
)
 
(912,724
)
 
(422,739
)
Employee severance, litigation, and other
 
(102,911
)
 
(37,894
)