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CLARIVATE Plc (CLVT)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17
   10-K10-K10-K10-K/A10-K
Total revenues  1,876.91,254.0974.3968.5917.6
            Revenue growth  49.7%28.7%0.6%5.5% 
Cost of goods sold  626.1-135.5352.0430.3394.2
Gross profit  1,250.81,389.5622.3538.1523.4
            Gross margin  66.6%110.8%63.9%55.6%57.0%
Selling, general and administrative  643.0544.7475.0413.0343.1
Other operating expenses  -81.8495.634.712.5336.5
EBITDA   [+]717.6374.6131.0131.579.2
            EBITDA margin  38.2%29.9%13.4%13.6%8.6%
Depreciation  14.012.79.29.47.0
EBITA  703.6361.9121.8122.172.2
            EBITA margin  37.5%28.9%12.5%12.6%7.9%
Amortization of intangibles  523.8290.4191.4227.8221.5
EBIT   [+]179.871.5-69.6-105.7-149.3
            EBIT margin  9.6%5.7%-7.1%-10.9%-16.3%
Non-recurring items   [+]266.8107.812.9 -2.2
Interest expense  252.5111.9157.7130.8138.2
Other income (expense), net   [+]81.3-205.1-8.3  
Pre-tax income  -258.2-353.3-248.4-236.5-285.2
Income taxes  12.3-2.710.25.6-21.3
            Tax rate   0.8%  7.5%
Net income  -312.0-350.6-258.6-242.2-263.9
            Net margin  -16.6%-28.0%-26.5%-25.0%-28.8%
   
Basic EPS   [+]($0.49)($0.82)($0.94)($1.11)($1.22)
Diluted EPS   [+]($0.49)($0.82)($0.94)($1.11)($1.22)
   
Dividends per share  $0.03    
   
Shares outstanding (basic)   [+]631.0427.0273.9217.5216.8
Shares outstanding (diluted)   [+]640.8427.0273.9217.5216.8
   
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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