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 | |||||||||||||||||||||||||
(Unaudited; $ in millions) | ||||||||||||||||||||||||||||||||
Net Revenues: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
(Unaudited; $ in millions) | ||||||||||||||||||||||||||||||||
Net Revenues: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
(Unaudited; $ in millions) | ||||||||||||||||||||||||||||||||
Net Revenues: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||
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 | |||||||||||||
(Unaudited; $ in millions) | ||||||||||||||||
Net Revenues: | ||||||||||||||||
Net revenues | $ | 635.1 | $ | 1,761.2 | $ | 383.0 | $ | 2,779.3 | ||||||||
Adjustments to net revenue ((remove from) / add to) | ||||||||||||||||
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): | ||||||||||||||||
Cost of Sales | $ | 238.0 | $ | 908.6 | $ | 324.0 | $ | 1,470.6 | ||||||||
Adjustments to cost of sales ((remove from) / add to) | ||||||||||||||||
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: | ||||||||||||||||
SG&A | $ | 287.2 | $ | 395.9 | $ | 34.6 | $ | 717.7 | ||||||||
Adjustments to SG&A ((remove from) / add to) | ||||||||||||||||
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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