Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Allergan plc | d815408d8k.htm |
Exhibit 99.1
TABLE 1
| Three Months Ended March 31, 2014 | Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||
| North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
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| (Unaudited; $ in millions) |
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| Net Revenues: |
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| Net revenues |
$ | 594.0 | $ | 1,670.9 | $ | 390.2 | $ | 2,655.1 | $ | 129.6 | $ | 1,534.9 | $ | 231.0 | $ | 1,895.5 | ||||||||||||||||
| Adjustments to net revenue ((remove from) / add to) |
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| Purchase accounting adjustments |
— | — | — | — | — | 4.8 | — | 4.8 | ||||||||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (112.1 | ) | — | (112.1 | ) | — | — | — | — | ||||||||||||||||||||||
| Manufacturing and supply contract termination payment |
— | — | — | — | — | 5.0 | — | 5.0 | ||||||||||||||||||||||||
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| Adjusted net revenues |
$ | 594.0 | $ | 1,558.8 | $ | 390.2 | $ | 2,543.0 | $ | 129.6 | $ | 1,544.7 | $ | 231.0 | $ | 1,905.3 | ||||||||||||||||
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| Cost of Sales (1): |
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| Cost of Sales |
$ | 185.5 | $ | 776.3 | $ | 331.2 | $ | 1,293.0 | $ | 29.8 | $ | 862.3 | $ | 194.5 | $ | 1,086.6 | ||||||||||||||||
| Adjustments to cost of sales ((remove from) / add to) |
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| Integration and restructuring |
(0.6 | ) | — | — | (0.6 | ) | — | (1.0 | ) | — | (1.0 | ) | ||||||||||||||||||||
| Contingent consideration fair value and accretion adjustment |
(0.3 | ) | — | — | (0.3 | ) | — | — | — | — | ||||||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (78.3 | ) | — | (78.3 | ) | — | — | — | — | ||||||||||||||||||||||
| Operational Excellence Initiative |
— | (11.4 | ) | — | (11.4 | ) | — | (6.3 | ) | — | (6.3 | ) | ||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Purchase accounting adjustments |
(112.7 | ) | (11.9 | ) | — | (124.6 | ) | — | (93.5 | ) | — | (93.5 | ) | |||||||||||||||||||
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| Adjusted cost of sales |
$ | 71.9 | $ | 674.7 | $ | 331.2 | $ | 1,077.8 | $ | 29.8 | $ | 761.5 | $ | 194.5 | $ | 985.8 | ||||||||||||||||
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| Adjusted gross profit |
522.1 | 884.1 | 59.0 | 1,465.2 | 99.8 | 783.2 | 36.5 | 919.5 | ||||||||||||||||||||||||
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| Adjusted gross margin as a percentage of adjusted net revenues |
87.9 | % | 56.7 | % | 15.1 | % | 57.6 | % | 77.0 | % | 50.7 | % | 15.8 | % | 48.3 | % | ||||||||||||||||
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| SG&A: |
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| SG&A |
$ | 159.1 | $ | 365.0 | $ | 34.8 | $ | 558.9 | $ | 54.8 | $ | 330.8 | $ | 27.4 | $ | 413.0 | ||||||||||||||||
| Adjustments to SG&A ((remove from) / add to) |
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| Legal matters |
— | — | — | — | — | (5.3 | ) | — | (5.3 | ) | ||||||||||||||||||||||
| Acquisition, integration & restructuring expenses |
(8.5 | ) | (8.0 | ) | — | (16.5 | ) | — | (16.8 | ) | — | (16.8 | ) | |||||||||||||||||||
| Pending acquisition related costs |
(14.2 | ) | — | — | (14.2 | ) | — | — | — | — | ||||||||||||||||||||||
| U.S. Branded Pharma fee |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Other |
— | 1.4 | — | 1.4 | — | — | — | — | ||||||||||||||||||||||||
| Global supply chain initiative accelerated depreciation and severance costs |
— | (3.1 | ) | — | (3.1 | ) | — | (1.1 | ) | — | (1.1 | ) | ||||||||||||||||||||
| Contract termination payments |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Operating results for assets held for sale / sold |
— | (33.5 | ) | — | (33.5 | ) | — | — | — | — | ||||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Costs associated with holding assets out for sale |
— | (5.2 | ) | — | (5.2 | ) | — | — | — | — | ||||||||||||||||||||||
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| Adjusted SG&A |
$ | 136.4 | $ | 316.6 | $ | 34.8 | $ | 487.8 | $ | 54.8 | $ | 307.6 | $ | 27.4 | $ | 389.8 | ||||||||||||||||
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| Adjusted SG&A as a percentage of adjusted net revenues |
23.0 | % | 20.3 | % | 8.9 | % | 19.2 | % | 42.3 | % | 19.9 | % | 11.9 | % | 20.5 | % | ||||||||||||||||
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TABLE 2
| Three Months Ended June 30, 2014 | Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||||
| North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
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| (Unaudited; $ in millions) |
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| Net Revenues: |
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| Net revenues |
$ | 587.2 | $ | 1,653.0 | $ | 427.0 | $ | 2,667.2 | $ | 144.8 | $ | 1,569.2 | $ | 275.8 | $ | 1,989.8 | ||||||||||||||||
| Adjustments to net revenue ((remove from) / add to) |
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| Purchase accounting adjustments |
— | 5.5 | — | 5.5 | — | 0.8 | — | 0.8 | ||||||||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (37.4 | ) | — | (37.4 | ) | — | — | — | — | ||||||||||||||||||||||
| Manufacturing and supply contract termination payment |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
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| Adjusted net revenues |
$ | 587.2 | $ | 1,621.1 | $ | 427.0 | $ | 2,635.3 | $ | 144.8 | $ | 1,570.0 | $ | 275.8 | $ | 1,990.6 | ||||||||||||||||
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| Cost of Sales (1): |
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| Cost of Sales |
$ | 163.8 | $ | 758.2 | $ | 374.5 | $ | 1,296.5 | $ | 34.4 | $ | 777.1 | $ | 238.8 | $ | 1,050.3 | ||||||||||||||||
| Adjustments to cost of sales ((remove from) / add to) |
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| Integration and restructuring |
(3.8 | ) | — | — | (3.8 | ) | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||||||||
| Contingent consideration fair value and accretion adjustment |
(0.7 | ) | (6.2 | ) | — | (6.9 | ) | (0.3 | ) | — | — | (0.3 | ) | |||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (38.3 | ) | — | (38.3 | ) | — | — | — | — | ||||||||||||||||||||||
| Operational Excellence Initiative |
— | (11.0 | ) | — | (11.0 | ) | — | (21.1 | ) | — | (21.1 | ) | ||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Purchase accounting adjustments |
(85.4 | ) | — | — | (85.4 | ) | — | — | — | — | ||||||||||||||||||||||
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| Adjusted cost of sales |
$ | 73.9 | $ | 702.7 | $ | 374.5 | $ | 1,151.1 | $ | 34.1 | $ | 755.7 | $ | 238.8 | $ | 1,028.6 | ||||||||||||||||
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| Adjusted gross profit |
513.3 | 918.4 | 52.5 | 1,484.2 | 110.7 | 814.3 | 37.0 | 962.0 | ||||||||||||||||||||||||
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| Adjusted gross margin as a percentage of adjusted net revenues |
87.4 | % | 56.7 | % | 12.3 | % | 56.3 | % | 76.5 | % | 51.9 | % | 13.4 | % | 48.3 | % | ||||||||||||||||
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| SG&A: |
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| SG&A |
$ | 185.3 | $ | 340.3 | $ | 36.0 | $ | 561.6 | $ | 81.8 | $ | 349.1 | $ | 30.5 | $ | 461.4 | ||||||||||||||||
| Adjustments to SG&A ((remove from) / add to) |
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| Legal matters |
(2.2 | ) | 0.7 | — | (1.5 | ) | — | (25.5 | ) | — | (25.5 | ) | ||||||||||||||||||||
| Acquisition, integration & restructuring expenses |
(11.3 | ) | (18.9 | ) | — | (30.2 | ) | (22.6 | ) | (3.3 | ) | — | (25.9 | ) | ||||||||||||||||||
| Pending acquisition related costs |
(22.7 | ) | — | — | (22.7 | ) | — | — | — | — | ||||||||||||||||||||||
| U.S. Branded Pharma fee |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Other |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Global supply chain initiative accelerated depreciation and severance costs |
— | (3.3 | ) | — | (3.3 | ) | — | (1.5 | ) | — | (1.5 | ) | ||||||||||||||||||||
| Contract termination payments |
(10.0 | ) | — | — | (10.0 | ) | — | — | — | — | ||||||||||||||||||||||
| Operating results for assets held for sale / sold |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Costs associated with holding assets out for sale |
— | (0.5 | ) | — | (0.5 | ) | — | — | — | — | ||||||||||||||||||||||
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| Adjusted SG&A |
$ | 139.1 | $ | 318.3 | $ | 36.0 | $ | 493.4 | $ | 59.2 | $ | 318.8 | $ | 30.5 | $ | 408.5 | ||||||||||||||||
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| Adjusted SG&A as a percentage of adjusted net revenues |
23.7 | % | 19.6 | % | 8.4 | % | 18.7 | % | 40.9 | % | 20.3 | % | 11.1 | % | 20.5 | % | ||||||||||||||||
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TABLE 3
| Three Months Ended September 30, 2014 | Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
| North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
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| (Unaudited; $ in millions) |
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| Net Revenues: |
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| Net revenues |
$ | 1,619.3 | $ | 1,640.6 | $ | 423.2 | $ | 3,683.1 | $ | 153.0 | $ | 1,552.9 | $ | 307.1 | $ | 2,013.0 | ||||||||||||||||
| Adjustments to net revenue ((remove from) / add to) |
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| Purchase accounting adjustments |
— | 4.8 | — | 4.8 | 0.4 | 0.3 | — | 0.7 | ||||||||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (34.3 | ) | — | (34.3 | ) | — | — | — | — | ||||||||||||||||||||||
| Manufacturing and supply contract termination payment |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
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| Adjusted net revenues |
$ | 1,619.3 | $ | 1,611.1 | $ | 423.2 | $ | 3,653.6 | $ | 153.4 | $ | 1,553.2 | $ | 307.1 | $ | 2,013.7 | ||||||||||||||||
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| Cost of Sales (1): |
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| Cost of Sales |
$ | 706.3 | $ | 811.9 | $ | 364.8 | $ | 1,883.0 | $ | 41.4 | $ | 774.6 | $ | 267.2 | $ | 1,083.2 | ||||||||||||||||
| Adjustments to cost of sales ((remove from) / add to) |
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| Integration and restructuring |
(9.6 | ) | 0.3 | — | (9.3 | ) | — | (2.5 | ) | — | (2.5 | ) | ||||||||||||||||||||
| Contingent consideration fair value and accretion adjustment |
(1.1 | ) | 0.2 | — | (0.9 | ) | (4.8 | ) | (1.4 | ) | — | (6.2 | ) | |||||||||||||||||||
| Operating results of assets held for sale / sold |
— | (28.0 | ) | — | (28.0 | ) | — | — | — | — | ||||||||||||||||||||||
| Operational Excellence Initiative |
— | (8.3 | ) | — | (8.3 | ) | — | (17.4 | ) | — | (17.4 | ) | ||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
(5.9 | ) | — | — | (5.9 | ) | — | — | — | — | ||||||||||||||||||||||
| Purchase accounting adjustments |
(437.8 | ) | (56.1 | ) | — | (493.9 | ) | — | — | — | — | |||||||||||||||||||||
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| Adjusted cost of sales |
$ | 251.9 | $ | 720.0 | $ | 364.8 | $ | 1,336.7 | $ | 36.6 | $ | 753.3 | $ | 267.2 | $ | 1,057.1 | ||||||||||||||||
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| Adjusted gross profit |
1,367.4 | 891.1 | 58.4 | 2,316.9 | 116.8 | 799.9 | 39.9 | 956.6 | ||||||||||||||||||||||||
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| Adjusted gross margin as a percentage of adjusted net revenues |
84.4 | % | 55.3 | % | 13.8 | % | 63.4 | % | 76.1 | % | 51.5 | % | 13.0 | % | 47.5 | % | ||||||||||||||||
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| SG&A: |
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| SG&A |
$ | 880.3 | $ | 356.3 | $ | 37.9 | $ | 1,274.5 | $ | 78.9 | $ | 344.5 | $ | 32.3 | $ | 455.7 | ||||||||||||||||
| Adjustments to SG&A ((remove from) / add to) |
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| Legal matters |
9.7 | 0.3 | — | 10.0 | — | (15.0 | ) | — | (15.0 | ) | ||||||||||||||||||||||
| Acquisition, integration & restructuring expenses |
(110.9 | ) | (5.2 | ) | — | (116.1 | ) | — | (10.2 | ) | — | (10.2 | ) | |||||||||||||||||||
| Pending acquisition related costs |
(31.3 | ) | (12.8 | ) | — | (44.1 | ) | (20.7 | ) | (20.6 | ) | — | (41.3 | ) | ||||||||||||||||||
| U.S. Branded Pharma fee |
(105.0 | ) | (10.8 | ) | — | (115.8 | ) | — | — | — | — | |||||||||||||||||||||
| Other |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Global supply chain initiative accelerated depreciation and severance costs |
— | — | — | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||||||
| Contract termination payments |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Operating results for assets held for sale / sold |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
(161.7 | ) | — | — | (161.7 | ) | — | — | — | — | ||||||||||||||||||||||
| Costs associated with holding assets out for sale |
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| Adjusted SG&A |
$ | 481.1 | $ | 327.8 | $ | 37.9 | $ | 846.8 | $ | 58.2 | $ | 298.5 | $ | 32.3 | $ | 389.0 | ||||||||||||||||
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| Adjusted SG&A as a percentage of adjusted net revenues |
29.7 | % | 20.3 | % | 9.0 | % | 23.2 | % | 37.9 | % | 19.2 | % | 10.5 | % | 19.3 | % | ||||||||||||||||
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TABLE 4
| Three Months Ended December 31, 2013 | ||||||||||||||||
| North American Brands |
North American Generics and International |
Anda Distribution |
Actavis plc |
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| (Unaudited; $ in millions) |
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| Net Revenues: |
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| Net revenues |
$ | 635.1 | $ | 1,761.2 | $ | 383.0 | $ | 2,779.3 | ||||||||
| Adjustments to net revenue ((remove from) / add to) |
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| Purchase accounting adjustments |
— | 0.4 | — | 0.4 | ||||||||||||
| Operating results of assets held for sale / sold |
— | — | — | — | ||||||||||||
| Manufacturing and supply contract termination payment |
— | — | — | — | ||||||||||||
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| Adjusted net revenues |
$ | 635.1 | $ | 1,761.6 | $ | 383.0 | $ | 2,779.7 | ||||||||
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| Cost of Sales (1): |
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| Cost of Sales |
$ | 238.0 | $ | 908.6 | $ | 324.0 | $ | 1,470.6 | ||||||||
| Adjustments to cost of sales ((remove from) / add to) |
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| Integration and restructuring |
— | (2.3 | ) | — | (2.3 | ) | ||||||||||
| Contingent consideration fair value and accretion adjustment |
(0.3 | ) | (0.9 | ) | — | (1.2 | ) | |||||||||
| Operating results of assets held for sale / sold |
— | (0.8 | ) | — | (0.8 | ) | ||||||||||
| Operational Excellence Initiative |
— | (15.9 | ) | — | (15.9 | ) | ||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | ||||||||||||
| Purchase accounting adjustments |
(152.1 | ) | (21.1 | ) | — | (173.2 | ) | |||||||||
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| Adjusted cost of sales |
$ | 85.6 | $ | 867.6 | $ | 324.0 | $ | 1,277.2 | ||||||||
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| Adjusted gross profit |
549.5 | 894.0 | 59.0 | 1,502.5 | ||||||||||||
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| Adjusted gross margin as a percentage of adjusted net revenues |
86.5 | % | 50.7 | % | 15.4 | % | 54.1 | % | ||||||||
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| SG&A: |
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| SG&A |
$ | 287.2 | $ | 395.9 | $ | 34.6 | $ | 717.7 | ||||||||
| Adjustments to SG&A ((remove from) / add to) |
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| Legal matters |
— | (1.9 | ) | — | (1.9 | ) | ||||||||||
| Acquisition, integration & restructuring expenses |
(113.4 | ) | (36.0 | ) | — | (149.4 | ) | |||||||||
| Pending acquisition related costs |
— | — | — | — | ||||||||||||
| U.S. Branded Pharma fee |
— | — | — | — | ||||||||||||
| Other |
— | — | — | — | ||||||||||||
| Global supply chain initiative accelerated depreciation and severance costs |
— | (1.0 | ) | — | (1.0 | ) | ||||||||||
| Contract termination payments |
— | — | — | — | ||||||||||||
| Operating results for assets held for sale / sold |
— | — | — | — | ||||||||||||
| Acquisition accounting fair market value adjustment to stock-based compensation |
— | — | — | — | ||||||||||||
| Costs associated with holding assets out for sale |
— | (2.5 | ) | — | (2.5 | ) | ||||||||||
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| Adjusted SG&A |
$ | 173.8 | $ | 354.5 | $ | 34.6 | $ | 562.9 | ||||||||
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| Adjusted SG&A as a percentage of adjusted net revenues |
27.4 | % | 20.1 | % | 9.0 | % | 20.3 | % | ||||||||
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