Akorn, Inc. (AKRX) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1925 W. FIELD COURT, SUITE 300 LAKE FOREST, IL 60045 |
| State of Incorp. | LA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2834 - Pharmaceutical Preparations (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 224,868 | 368,119 | 201,878 | 352,207 | 77,948 | 34,178 | |||
| Cash and cash equivalents | 224,868 | 368,119 | 200,772 | 346,266 | 70,680 | 34,178 | |||
| Short-term investments | 1,106 | 5,941 | 7,268 | ||||||
| Receivables | 153,126 | 141,383 | 283,154 | 150,621 | 220,716 | 64,998 | |||
| Inventory, net of allowances, customer advances and progress billings | 173,645 | 183,568 | 174,793 | 185,316 | 131,310 | 55,982 | |||
| Inventory | 173,645 | 183,568 | 174,793 | 185,316 | 131,310 | 55,982 | |||
| Prepaid expense and other current assets | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 5,753 | ||
| Deferred tax assets | ✕ | 43,024 | 33,480 | 7,945 | |||||
| Other undisclosed current assets | 32,180 | 37,081 | 25,986 | 19,988 | 30,875 | ||||
| Total current assets: | 583,819 | 730,151 | 685,811 | 751,156 | 494,329 | 168,856 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 334,853 | 313,418 | 238,404 | 179,614 | 143,788 | 82,108 | |||
| Long-term investments and receivables | 9 | 129 | 208 | 10,006 | |||||
| Long-term investments | 9 | 129 | 208 | 10,006 | |||||
| Intangible assets, net (including goodwill) | 568,855 | 854,794 | 1,043,147 | 938,338 | 982,992 | 145,731 | |||
| Goodwill | 283,879 | 285,310 | 284,293 | 284,710 | 278,774 | 29,831 | |||
| Intangible assets, net (excluding goodwill) | 284,976 | 569,484 | 758,854 | 653,628 | 704,218 | 115,900 | |||
| Restricted cash and investments | 1,800 | 2,900 | 2,700 | ||||||
| Deferred costs | 27,591 | 21,560 | 5,676 | ||||||
| Other noncurrent assets | 7,730 | 4,627 | 1,063 | 764 | 1,863 | ||||
| Prepaid expense and other noncurrent assets | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 3,180 | ||
| Deferred tax assets, net | ✕ | 5,286 | 3,757 | 3,020 | 1,643 | ||||
| Other undisclosed noncurrent assets | 4,721 | 211,361 | 112,453 | (70,203) | |||||
| Total noncurrent assets: | 911,438 | 1,179,360 | 1,287,909 | 1,361,554 | 1,268,784 | 180,841 | |||
| Other undisclosed assets | 143,788 | 82,108 | |||||||
| TOTAL ASSETS: | 1,495,257 | 1,909,511 | 1,973,720 | 2,112,710 | 1,906,901 | 431,805 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 74,857 | 122,688 | 119,081 | 117,158 | 75,419 | 14,970 | |||
| Taxes payable | 15,775 | 16,198 | 23,670 | 1 | |||||
| Employee-related liabilities | 19,745 | 12,286 | 19,113 | 15,866 | 13,467 | 7,692 | |||
| Accounts payable | 39,570 | 51,976 | 59,534 | 46,019 | 44,116 | ||||
| Accrued liabilities | 15,542 | 42,651 | 24,236 | 31,603 | 17,835 | 7,278 | |||
| Debt | 52,915 | 10,450 | |||||||
| Business combination, contingent consideration, liability | 3,901 | 4,994 | 4,967 | ✕ | |||||
| Other undisclosed current liabilities | 95,966 | 44,500 | 51,480 | 56,472 | 48,296 | 46,275 | |||
| Total current liabilities: | 170,823 | 171,089 | 175,555 | 231,512 | 134,165 | 61,245 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 820,411 | 815,195 | 809,979 | 1,021,488 | 1,114,481 | 108,750 | |||
| Long-term debt, excluding current maturities | 820,411 | 815,195 | 809,979 | 1,021,488 | 1,114,481 | 108,750 | |||
| Finance lease, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 59,591 | 48,578 | 11,395 | 6,763 | 2,536 | 1,630 | |||
| Deferred income tax liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Liability for uncertainty in income taxes | 49,990 | ||||||||
| Liability, pension and other postretirement and postemployment benefits | ✕ | ||||||||
| Other liabilities | 9,601 | 48,578 | 11,395 | 6,763 | 2,536 | 1,630 | |||
| Operating lease, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 566 | 43,404 | 157,607 | 231,382 | 268,968 | ||||
| Total noncurrent liabilities: | 880,568 | 907,177 | 978,981 | 1,259,633 | 1,385,985 | 110,380 | |||
| Total liabilities: | 1,051,391 | 1,078,266 | 1,154,536 | 1,491,145 | 1,520,150 | 171,625 | |||
| Commitments and contingencies | 7,481 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent | 443,866 | 831,245 | 819,184 | 621,565 | 386,751 | 260,180 | |||
| Common stock | 574,553 | 550,472 | 521,860 | 458,659 | 351,235 | 239,235 | |||
| Accumulated other comprehensive loss | (23,519) | (13,968) | (21,967) | (17,142) | (15,195) | (12,367) | |||
| Retained earnings (accumulated deficit) | (107,168) | 294,741 | 319,291 | 180,048 | 50,711 | 15,366 | |||
| Warrants and rights outstanding | 17,946 | ||||||||
| Other undisclosed equity | (7,481) | ||||||||
| Total equity: | 443,866 | 831,245 | 819,184 | 621,565 | 379,270 | 260,180 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,495,257 | 1,909,511 | 1,973,720 | 2,112,710 | 1,906,901 | 431,805 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 694,018 | 841,045 | 1,116,843 | 985,076 | 593,085 | 317,711 | ||
| Revenue, net | ✕ | ✕ | 841,045 | 1,116,843 | 985,076 | 593,078 | 317,711 | |
| Cost of revenue (Cost of Goods and Services Sold) | (448,002) | (407,898) | (442,572) | (389,064) | (295,488) | (145,807) | ||
| Other undisclosed gross profit | (7) | |||||||
| Gross profit: | 246,016 | 433,147 | 674,271 | 596,012 | 297,590 | 171,904 | ||
| Operating expenses | (634,442) | (450,803) | (346,700) | (301,401) | (200,875) | (83,700) | ||
| Operating income (loss): | (388,426) | (17,656) | 327,571 | 294,611 | 96,715 | 88,204 | ||
| Nonoperating income (expense) | 1,360 | 1,744 | (2,746) | (6,199) | 400 | 395 | ||
| Other nonoperating income (expense) | 1,360 | 1,744 | (2,746) | (7,048) | 400 | 395 | ||
| Interest and debt expense | (5,216) | (5,216) | (10,791) | (5,526) | (13,119) | |||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (45,900) | (38,070) | (42,734) | (50,730) | (24,860) | (5,704) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (438,182) | (59,198) | 271,300 | 232,156 | 59,136 | 82,895 | ||
| Income from equity method investments | 80 | |||||||
| Other undisclosed loss from continuing operations before income taxes | (80) | |||||||
| Income (loss) from continuing operations before income taxes: | (438,182) | (59,198) | 271,300 | 232,156 | 59,136 | 82,895 | ||
| Income tax expense (benefit) | 36,273 | 34,648 | (87,057) | (81,358) | (23,288) | (30,533) | ||
| Income (loss) from continuing operations: | (401,909) | (24,550) | 184,243 | 150,798 | 35,848 | 52,362 | ||
| Income (loss) before gain (loss) on sale of properties: | (401,909) | (24,550) | 184,243 | 150,798 | 35,848 | 52,362 | ||
| Net income (loss): | (401,909) | (24,550) | 184,243 | 150,798 | 35,848 | 52,362 | ||
| Other undisclosed net loss attributable to parent | (503) | |||||||
| Net income (loss) available to common stockholders, basic: | (401,909) | (24,550) | 184,243 | 150,798 | 35,345 | 52,362 | ||
| Interest on convertible debt | 3,222 | 5,825 | ||||||
| Other undisclosed net income available to common stockholders, diluted | 1,049 | 503 | ||||||
| Net income (loss) available to common stockholders, diluted: | (401,909) | (24,550) | 185,292 | 154,020 | 41,673 | 52,362 | ||
Comprehensive Income ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (401,909) | (24,550) | 184,243 | 150,798 | 35,848 | 52,362 | ||
| Other comprehensive income (loss) | 19 | (1,057) | (877) | |||||
| Comprehensive income (loss): | (401,890) | (24,550) | 184,243 | 149,741 | 34,971 | 52,362 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (9,570) | 7,999 | (4,825) | (890) | (2,454) | (6,463) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (411,460) | (16,551) | 179,418 | 148,851 | 32,517 | 45,899 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.