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Income Statement
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PPD, Inc. (PPD)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16
   10-K10-K10-K10-KS-1/A
Revenues:  
    North America     1,413.11,323.0
    Europe, Middle East and Africa     979.9849.3
    Asia-Pacific     256.8203.8
    Latin America     117.791.9
    Other     233.6211.6
Total revenues  4,681.54,031.03,749.03,001.12,679.6
            Revenue growth   [+]16.1%7.5%24.9%12.0% 
Cost of goods sold  279.1264.8259.01,815.61,386.7
Gross profit  4,402.43,766.23,490.01,185.41,292.9
            Gross margin  94.0%93.4%93.1%39.5%48.2%
Selling, general and administrative  1,010.1938.8813.0809.3718.1
Equity in earnings  8.23.60.2  
Other operating expenses  2,882.82,408.92,274.7  
EBITDA   [+]796.7686.9661.4655.2574.8
            EBITDA margin  17.0%17.0%17.6%21.8%21.4%
Depreciation  121.5102.990.4279.1260.5
EBITA  675.2584.0571.0376.1314.3
            EBITA margin  14.4%14.5%15.2%12.5%11.7%
Amortization of intangibles  157.6161.9168.6  
EBIT   [+]517.6422.1402.4376.1314.3
            EBIT margin  11.1%10.5%10.7%12.5%11.7%
Non-recurring items   [+]1.41.329.6158.228.1
Interest expense  216.9311.7263.6253.9203.3
Other income (expense), net   [+]-111.7-49.737.552.584.0
Pre-tax income  187.559.3146.616.5166.9
Income taxes  18.83.039.6-284.4-16.0
            Tax rate  10.0%5.0%27.0%  
Minority interest  6.94.92.7-4.80.2
Net income  120.254.796.3296.0183.1
            Net margin  2.6%1.4%2.6%9.9%6.8%
   
Basic EPS   [+]$0.35$0.20$0.34$1.02$0.59
Diluted EPS   [+]$0.35$0.19$0.34$1.01$0.58
   
Dividends per share   [+] $4.46   
   
Shares outstanding (basic)   [+]341.2279.3279.2291.0312.1
Shares outstanding (diluted)   [+]346.7280.7279.3293.8316.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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