2022 Q2 Form 10-Q Financial Statement

#000172312822000034 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $559.4M $536.9M $535.1M
YoY Change 4.54% 5.27% 15.15%
Cost Of Revenue $353.7M $348.5M $322.6M
YoY Change 9.66% 1.6% 0.91%
Gross Profit $200.5M $188.4M $212.5M
YoY Change -5.64% 12.75% 47.33%
Gross Profit Margin 35.85% 35.09% 39.71%
Selling, General & Admin $98.81M $98.37M $86.16M
YoY Change 14.68% 11.27% 6.44%
% of Gross Profit 49.28% 52.21% 40.54%
Research & Development $50.75M $51.87M $52.86M
YoY Change -4.0% -3.04% 16.0%
% of Gross Profit 25.31% 27.53% 24.88%
Depreciation & Amortization $59.70M $61.18M $56.54M
YoY Change 5.59% 2.14% -2.69%
% of Gross Profit 29.77% 32.47% 26.61%
Operating Expenses $149.6M $150.1M $139.0M
YoY Change 7.58% 5.81% 9.88%
Operating Profit -$198.6M $38.27M $67.12M
YoY Change -395.92% 51.85% 524.3%
Interest Expense -$35.62M -$34.13M -$34.08M
YoY Change 4.52% 30.75% -7.05%
% of Operating Profit -89.18% -50.78%
Other Income/Expense, Net -$34.11M $6.633M -$32.30M
YoY Change 5.63% 1226.6% -0.66%
Pretax Income -$232.7M -$16.32M $34.82M
YoY Change -768.31% 196.71% -260.05%
Income Tax $7.400M $4.140M $2.600M
% Of Pretax Income 7.47%
Net Earnings -$242.1M -$6.377M $29.99M
YoY Change -907.28% 112.57% -224.12%
Net Earnings / Revenue -43.29% -1.19% 5.61%
Basic Earnings Per Share -$0.80 $0.10
Diluted Earnings Per Share -$0.80 -$42.69K $0.10
COMMON SHARES
Basic Shares Outstanding 151.0M shares 149.0M shares
Diluted Shares Outstanding 151.0M shares 152.0M shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.98M $247.8M $278.3M
YoY Change -66.95% -27.42% 4.59%
Cash & Equivalents $91.98M $247.8M $278.3M
Short-Term Investments
Other Short-Term Assets $202.0M $55.19M $43.52M
YoY Change 364.15% 21.83% -12.96%
Inventory $533.0M $489.4M $523.4M
Prepaid Expenses
Receivables $688.8M $662.6M $652.0M
Other Receivables $17.75M $9.770M $43.88M
Total Short-Term Assets $1.554B $1.520B $1.563B
YoY Change -0.63% -2.03% 5.58%
LONG-TERM ASSETS
Property, Plant & Equipment $483.6M $514.2M $468.4M
YoY Change 3.25% 7.62% 1.71%
Goodwill $601.0M $593.0M $549.1M
YoY Change 9.45% 13.43% 4.1%
Intangibles $1.204B $1.167B $1.293B
YoY Change -6.89% -10.56% -9.17%
Long-Term Investments
YoY Change
Other Assets $79.84M $20.61M $19.22M
YoY Change 315.47% -7.74% -33.12%
Total Long-Term Assets $2.488B $2.420B $2.460B
YoY Change 1.15% -1.42% -4.52%
TOTAL ASSETS
Total Short-Term Assets $1.554B $1.520B $1.563B
Total Long-Term Assets $2.488B $2.420B $2.460B
Total Assets $4.041B $3.940B $4.023B
YoY Change 0.46% -1.66% -0.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $561.7M $131.1M $596.2M
YoY Change -5.79% -14.4% -0.55%
Accrued Expenses $12.89M $12.32M $10.44M
YoY Change 23.51% 32.49% -35.96%
Deferred Revenue
YoY Change
Short-Term Debt $85.00M $0.00 $0.00
YoY Change
Long-Term Debt Due $29.92M $30.61M $30.46M
YoY Change -1.78% -30.78% 2.37%
Total Short-Term Liabilities $993.1M $677.2M $672.9M
YoY Change 47.59% 0.05% 2.72%
LONG-TERM LIABILITIES
Long-Term Debt $2.622B $2.680B $2.720B
YoY Change -3.59% -2.02% -1.61%
Other Long-Term Liabilities $79.21M $38.90M $63.26M
YoY Change 25.23% -53.33% -32.54%
Total Long-Term Liabilities $2.857B $2.879B $2.946B
YoY Change -3.0% -3.16% -2.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $993.1M $677.2M $672.9M
Total Long-Term Liabilities $2.857B $2.879B $2.946B
Total Liabilities $3.851B $3.556B $3.619B
YoY Change 6.41% -2.56% -1.49%
SHAREHOLDERS EQUITY
Retained Earnings -$399.2M -$276.2M -$265.6M
YoY Change 50.3% -3.7% -3.36%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.3M $360.3M $346.1M
YoY Change
Total Liabilities & Shareholders Equity $4.041B $3.940B $4.023B
YoY Change 0.46% -1.66% -0.83%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income -$242.1M -$6.377M $29.99M
YoY Change -907.28% 112.57% -224.12%
Depreciation, Depletion And Amortization $59.70M $61.18M $56.54M
YoY Change 5.59% 2.14% -2.69%
Cash From Operating Activities -$125.5M $63.26M -$51.91M
YoY Change 141.83% -40.32% -128.95%
INVESTING ACTIVITIES
Capital Expenditures -$17.12M -$19.25M -$9.052M
YoY Change 89.09% -39.45% 5.26%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$67.72M -$73.83M
YoY Change -101.35% 18357.0%
Cash From Investing Activities -$16.12M -$86.97M -$82.88M
YoY Change -80.56% 174.35% 820.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.25M -30.35M -38.12M
YoY Change -160.99% 168.58% -87.71%
NET CHANGE
Cash From Operating Activities -125.5M 63.26M -51.91M
Cash From Investing Activities -16.12M -86.97M -82.88M
Cash From Financing Activities 23.25M -30.35M -38.12M
Net Change In Cash -118.4M -54.06M -172.9M
YoY Change -31.53% -185.81% 23.68%
FREE CASH FLOW
Cash From Operating Activities -$125.5M $63.26M -$51.91M
Capital Expenditures -$17.12M -$19.25M -$9.052M
Free Cash Flow -$108.4M $82.52M -$42.85M
YoY Change 152.97% -40.12% -122.81%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
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dei Entity Registrant Name
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dei Entity Interactive Data Current
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dei Entity File Number
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dei Document Quarterly Report
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dei Document Period End Date
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dei Security12b Title
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amrx Temporary Equity Acquisition Of Redeemable Non Controlling Interest
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2021Q2 us-gaap Noncontrolling Interest Increase From Business Combination
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us-gaap Noncontrolling Interest Increase From Business Combination
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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us-gaap Use Of Estimates
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:106%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements requires the Company's management to make estimates and assumptions that affect the reported financial position at the date of the financial statements and the reported results of operations during the reporting period. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. The following are some, but not all, of such estimates: the determination of chargebacks, sales returns, rebates, billbacks, valuation of intangible and other assets acquired in business combinations, allowances for accounts receivable, accrued liabilities, initial and subsequent valuation of contingent consideration recognized in business combinations, stock-based compensation, valuation of inventory balances, the determination of useful lives for product rights and the assessment of expected cash flows used in evaluating goodwill and other long-lived assets for impairment. Actual results could differ from those estimates.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The prior period balance related to liabilities for legal proceedings of $58.0 million, formerly included in accounts payable and accrued expenses as of December 31, 2021, has been reclassified to the balance sheet caption liabilities for legal proceedings to conform to the current period presentation in the consolidated balance sheets.</span></div>
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Goodwill
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us-gaap Amortization Of Intangible Assets
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us-gaap Gain Loss Related To Litigation Settlement
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GrossProfit
404060000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
176883000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
101046000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
710000 usd
us-gaap Royalty Expense
RoyaltyExpense
4947000 usd
amrx Business Combination Acquisition Related Costs Transaction Related And Integration Expense
BusinessCombinationAcquisitionRelatedCostsTransactionRelatedAndIntegrationExpense
7085000 usd
us-gaap Restructuring Charges
RestructuringCharges
363000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
113026000 usd
CY2022Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 usd
CY2021Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 usd
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
24904000 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
47861000 usd
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
1338000 usd
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
1179000 usd
CY2022Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
10654000 usd
CY2021Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
9619000 usd
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2900000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7300000 usd
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
16600000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
25900000 usd
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
16717000 usd
CY2021 amrx Changes In Reallocation Of Ownership Interests
ChangesInReallocationOfOwnershipInterests
-226000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
25807000 usd
amrx Changes In Reallocation Of Ownership Interests
ChangesInReallocationOfOwnershipInterests
-112000 usd
CY2022Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1694000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1174000 usd
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
7478000 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
7962000 usd
CY2022Q2 amrx Prepaid Regulatory Fees Current
PrepaidRegulatoryFeesCurrent
1265000 usd
CY2021Q4 amrx Prepaid Regulatory Fees Current
PrepaidRegulatoryFeesCurrent
3710000 usd
CY2022Q2 amrx Income And Other Taxes Receivable
IncomeAndOtherTaxesReceivable
11535000 usd
CY2021Q4 amrx Income And Other Taxes Receivable
IncomeAndOtherTaxesReceivable
8850000 usd
CY2022Q2 us-gaap Prepaid Taxes
PrepaidTaxes
15953000 usd
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
16085000 usd
CY2022Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
148500000 usd
CY2021Q4 us-gaap Loss Contingency Receivable
LossContingencyReceivable
33000000 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
17748000 usd
CY2021Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
9770000 usd
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
20895000 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
17309000 usd
CY2022Q2 amrx Chargebacks Receivable Current
ChargebacksReceivableCurrent
7136000 usd
CY2021Q4 amrx Chargebacks Receivable Current
ChargebacksReceivableCurrent
12358000 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
232204000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
110218000 usd
CY2022Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
79836000 usd
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
20614000 usd
amrx Other Income Operating
OtherIncomeOperating
1200000 usd
CY2022Q2 amrx Other Income Operating
OtherIncomeOperating
1200000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2669376000 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2730750000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17009000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
20083000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
2652367000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
2710667000 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
29920000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
30614000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2622447000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2680053000 usd
CY2021Q3 amrx Number Of Facilities Damaged
NumberOfFacilitiesDamaged
2 facility
CY2021 us-gaap Unusual Or Infrequent Item Loss Gross
UnusualOrInfrequentItemLossGross
10400000 usd
CY2022Q2 us-gaap Insurance Recoveries
InsuranceRecoveries
1900000 usd
us-gaap Insurance Recoveries
InsuranceRecoveries
1900000 usd

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