10-Q 1 agn-10q_20190331.htm 10-Q agn-10q_20190331.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

 

 

Commission

File Number

 

 

Exact name of registrant as specified in its charter,

principal office and address and telephone number

 

 

State of incorporation

or organization

 

 

I.R.S. Employer

Identification No.

 

001-36867

 

Allergan plc

Clonshaugh Business and Technology Park

Coolock, Dublin, D17 E400, Ireland

(862) 261-7000

 

Ireland

 

98-1114402

 

 

 

 

 

 

 

001-36887

 

Warner Chilcott Limited

Canon’s Court

 

Bermuda

 

98-0496358

 

 

22 Victoria Street

 

 

 

 

 

 

Hamilton HM 12

 

 

 

 

 

 

Bermuda

 

 

 

 

 

 

(441) 295-2244

 

 

 

 

 

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Allergan plc Ordinary Shares, $0.0001 par value

AGN

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:

 

Allergan plc

 

YES    

 

NO    

Warner Chilcott Limited

 

YES    

 

NO    

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

Allergan plc

 

YES    

 

NO    

Warner Chilcott Limited

 

YES    

 

NO    

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Allergan plc

Large accelerated filer

Accelerated filer

 

Non-accelerated filer

Smaller reporting company

 

Emerging growth company

 

 

 

 

 

 

 

Warner Chilcott Limited

Large accelerated filer

Accelerated filer

 

Non-accelerated filer

Smaller reporting company

 

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

 

Allergan plc

 

YES    

 

NO    

Warner Chilcott Limited

 

YES    

 

NO    

Number of shares of Allergan plc’s Ordinary Shares outstanding on May 3, 2019: 327,801,905. There is no trading market for securities of Warner Chilcott Limited, all of which are indirectly wholly owned by Allergan plc.

 

This Quarterly Report on Form 10-Q is a combined report being filed separately by two different registrants: Allergan plc and Warner Chilcott Limited. Warner Chilcott Limited is an indirect wholly-owned subsidiary of Allergan plc. The information in this Quarterly Report on Form 10-Q is equally applicable to Allergan plc and Warner Chilcott Limited, except where otherwise indicated. Warner Chilcott Limited meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q and, to the extent applicable, is therefore filing this form with a reduced disclosure format.

 

 

 

 


 

TABLE OF CONTENTS

FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2019

 

 

 

 

PAGE

PART I. FINANCIAL INFORMATION

 

Item 1.

 

Consolidated Financial Statements (unaudited)

3

 

 

Consolidated Balance Sheets of Allergan plc as of March 31, 2019 and December 31, 2018

3

 

 

Consolidated Statements of Operations of Allergan plc for the three months ended March 31, 2019 and March 31, 2018

4

 

 

Consolidated Statements of Comprehensive (Loss) of Allergan plc for the three months ended March 31, 2019 and March 31, 2018 

5

 

 

Consolidated Statements of Cash Flows of Allergan plc for the three months ended March 31, 2019 and March 31, 2018

6

 

 

Consolidated Statements of Equity of Allergan plc for the three months ended March 31, 2019 and March 31, 2018

7

 

 

Consolidated Balance Sheets of Warner Chilcott Limited as of March 31, 2019 and December 31, 2018

8

 

 

Consolidated Statements of Operations of Warner Chilcott Limited for the three months ended March 31, 2019 and March 31, 2018

9

 

 

Consolidated Statements of Comprehensive (Loss) of Warner Chilcott Limited for the three months ended March 31, 2019 and March 31, 2018

10

 

 

Consolidated Statements of Cash Flows of Warner Chilcott Limited for the three months ended March 31, 2019 and March 31, 2018

11

 

 

Consolidated Statements of Equity of Warner Chilcott Limited for the three months ended March 31, 2019 and March 31, 2018

12

 

 

Notes to the Consolidated Financial Statements

13

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

53

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

70

Item 4.

 

Controls and Procedures

71

PART II. OTHER INFORMATION

73

Item 1.

 

Legal Proceedings

73

Item 1A.

 

Risk Factors

73

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

73

Item 6.

 

Exhibits

73

 

 

Signatures

75

 

 

2


 

PART I. FINANCIAL INFORMATION

ITEM 1.

CONSOLIDATED FINANCIAL STATEMENTS

ALLERGAN PLC

CONSOLIDATED BALANCE SHEETS

(Unaudited; in millions, except par value)

 

 

 

March 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

ASSETS

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

788.5

 

 

$

880.4

 

Marketable securities

 

 

995.2

 

 

 

1,026.9

 

Accounts receivable, net

 

 

2,731.2

 

 

 

2,868.1

 

Inventories

 

 

943.2

 

 

 

846.9

 

Current assets held for sale

 

 

45.7

 

 

 

34.0

 

Prepaid expenses and other current assets

 

 

785.5

 

 

 

819.1

 

Total current assets

 

 

6,289.3

 

 

 

6,475.4

 

Property, plant and equipment, net

 

 

1,781.1

 

 

 

1,787.0

 

Right of use asset - operating leases

 

 

455.4

 

 

 

-

 

Investments and other assets

 

 

1,979.5

 

 

 

1,970.6

 

Non current assets held for sale

 

 

897.2

 

 

 

882.2

 

Deferred tax assets

 

 

1,032.6

 

 

 

1,063.7

 

Product rights and other intangibles

 

 

42,264.6

 

 

 

43,695.4

 

Goodwill

 

 

43,336.6

 

 

 

45,913.3

 

Total assets

 

$

98,036.3

 

 

$

101,787.6

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

4,634.4

 

 

$

4,787.2

 

Income taxes payable

 

 

126.9

 

 

 

72.4

 

Current portion of long-term debt

 

 

3,971.8

 

 

 

868.3

 

Current portion of lease liability - operating

 

 

116.1

 

 

 

-

 

Total current liabilities

 

 

8,849.2

 

 

 

5,727.9

 

Long-term debt

 

 

19,554.1

 

 

 

22,929.4

 

Lease liability - operating

 

 

415.2

 

 

 

-

 

Other long-term liabilities

 

 

804.4

 

 

 

882.0

 

Other taxes payable

 

 

1,618.2

 

 

 

1,615.5

 

Deferred tax liabilities

 

 

5,235.6

 

 

 

5,501.8

 

Total liabilities

 

 

36,476.7

 

 

 

36,656.6

 

Commitments and contingencies (Refer to Note 20)

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

 

 

 

Ordinary shares; $0.0001 par value per share; 1,000.0 million shares authorized,

   327.8 million and 332.6 million shares issued and outstanding, respectively

 

$

-

 

 

$

-

 

Additional paid-in capital

 

 

55,742.8

 

 

 

56,510.0

 

Retained earnings

 

 

4,582.8

 

 

 

7,258.9

 

Accumulated other comprehensive income

 

 

1,216.4

 

 

 

1,345.2

 

Total shareholders’ equity

 

 

61,542.0

 

 

 

65,114.1

 

Noncontrolling interest

 

 

17.6

 

 

 

16.9

 

Total equity

 

 

61,559.6

 

 

 

65,131.0

 

Total liabilities and equity

 

$

98,036.3

 

 

$

101,787.6

 

 

See accompanying Notes to the Consolidated Financial Statements.

3


 

ALLERGAN PLC

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; in millions, except per share amounts)

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Net revenues

 

$

3,597.1

 

 

$

3,672.1

 

Operating expenses:

 

 

 

 

 

 

 

 

Cost of sales (excludes amortization and impairment of acquired

   intangibles including product rights)

 

 

497.8

 

 

 

522.8

 

Research and development

 

 

435.0

 

 

 

474.7

 

Selling and marketing

 

 

804.0

 

 

 

800.0

 

General and administrative

 

 

308.3

 

 

 

295.9

 

Amortization

 

 

1,399.4

 

 

 

1,697.6

 

Goodwill impairments

 

 

2,467.0

 

 

 

-

 

In-process research and development impairments

 

 

-

 

 

 

522.0

 

Asset sales and impairments, net

 

 

(5.2

)

 

 

13.1

 

Total operating expenses

 

 

5,906.3

 

 

 

4,326.1

 

Operating (loss)

 

 

(2,309.2

)

 

 

(654.0

)

 

 

 

 

 

 

 

 

 

Interest income

 

 

21.3

 

 

 

17.3

 

Interest (expense)

 

 

(201.8

)

 

 

(250.6

)

Other income / (expense), net

 

 

13.8

 

 

 

(78.8

)

Total other (expense), net

 

 

(166.7

)

 

 

(312.1

)

(Loss) before income taxes and noncontrolling interest

 

 

(2,475.9

)

 

 

(966.1

)

(Benefit) for income taxes

 

 

(68.6

)

 

 

(682.2

)

Net (loss)

 

 

(2,407.3

)

 

 

(283.9

)

(Income) attributable to noncontrolling interest

 

 

(0.7

)

 

 

(2.2

)

Net (loss) attributable to shareholders

 

 

(2,408.0

)

 

 

(286.1

)

Dividends on preferred shares

 

 

-

 

 

 

46.4

 

Net (loss) attributable to ordinary shareholders

 

$

(2,408.0

)

 

$

(332.5

)

 

 

 

 

 

 

 

 

 

(Loss) per share attributable to ordinary shareholders

 

 

 

 

 

 

 

 

Basic

 

$

(7.25

)

 

$

(0.99

)

Diluted

 

$

(7.25

)

 

$

(0.99

)

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

332.0

 

 

 

334.6

 

Diluted

 

 

332.0

 

 

 

334.6

 

 

 

See accompanying Notes to the Consolidated Financial Statements.

 

4


 

ALLERGAN PLC

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)

(Unaudited; in millions)

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Net (loss)

 

$

(2,407.3

)

 

$

(283.9

)

Other comprehensive (loss) / income

 

 

 

 

 

 

 

 

Foreign currency translation (losses) / gains

 

 

(127.8

)

 

 

183.8

 

Unrealized (losses), net of tax

 

 

(1.0

)

 

 

-

 

Total other comprehensive (loss) / income, net of tax

 

 

(128.8

)

 

 

183.8

 

Comprehensive (loss)

 

 

(2,536.1

)

 

 

(100.1

)

Comprehensive (income) attributable to noncontrolling interest

 

 

(0.7

)

 

 

(2.2

)

Comprehensive (loss) attributable to ordinary shareholders

 

$

(2,536.8

)

 

$

(102.3

)

 

See accompanying Notes to the Consolidated Financial Statements.

 

 

5


 

ALLERGAN PLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited; in millions)

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Cash Flows From Operating Activities:

 

 

 

 

 

 

 

 

Net (loss)

 

$

(2,407.3

)

 

$

(283.9

)

Reconciliation to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

47.5

 

 

 

56.1

 

Amortization

 

 

1,399.4

 

 

 

1,697.6

 

Provision for inventory reserve

 

 

18.8

 

 

 

14.2

 

Share-based compensation

 

 

52.3

 

 

 

72.5

 

Deferred income tax benefit

 

 

(229.7

)

 

 

(1,026.4

)

Goodwill impairments

 

 

2,467.0

 

 

 

-

 

In-process research and development impairments

 

 

-

 

 

 

522.0

 

(Gain) / loss on asset sales and impairments, net

 

 

(5.2

)

 

 

13.1

 

Loss on sale of Teva securities, net

 

 

-

 

 

 

77.7

 

Non-cash extinguishment of debt

 

 

0.3

 

 

 

-

 

Amortization of deferred financing costs

 

 

4.6

 

 

 

6.3

 

Non-cash lease expense

 

 

30.1

 

 

 

-

 

Contingent consideration adjustments, including accretion

 

 

18.7

 

 

 

5.3

 

Other, net

 

 

(10.3

)

 

 

6.5

 

Changes in assets and liabilities (net of effects of acquisitions):

 

 

 

 

 

 

 

 

Decrease / (increase) in accounts receivable, net

 

 

132.4

 

 

 

259.1

 

Decrease / (increase) in inventories

 

 

(128.3

)

 

 

(52.7

)

Decrease / (increase) in prepaid expenses and other current assets

 

 

36.2

 

 

 

(0.6

)

Increase / (decrease) in accounts payable and accrued expenses

 

 

(199.8

)

 

 

(231.6

)

Increase / (decrease) in income and other taxes payable

 

 

60.0

 

 

 

336.6

 

Increase / (decrease) in other assets and liabilities

 

 

(52.7

)

 

 

(13.5

)

Net cash provided by operating activities

 

 

1,234.0

 

 

 

1,458.3

 

Cash Flows From Investing Activities:

 

 

 

 

 

 

 

 

Additions to property, plant and equipment

 

 

(64.8

)

 

 

(46.4

)

Additions to product rights and other intangibles

 

 

(7.5

)

 

 

-

 

Additions to investments

 

 

(538.2

)

 

 

(1,455.9

)

Proceeds from sale of investments and other assets

 

 

569.1

 

 

 

4,889.5

 

Payments to settle Teva related matters

 

 

-

 

 

 

(466.0

)

Proceeds from sales of property, plant and equipment

 

 

17.2

 

 

 

11.1

 

Acquisitions of businesses, net of cash acquired

 

 

(80.6

)

 

 

-

 

Net cash (used in) / provided by investing activities

 

 

(104.8

)

 

 

2,932.3

 

Cash Flows From Financing Activities:

 

 

 

 

 

 

 

 

Proceeds from borrowings of long-term indebtedness, including credit facility

 

 

-

 

 

 

709.0

 

Payments on debt, including finance lease obligations and credit facility

 

 

(159.4

)

 

 

(4,322.1

)

Payments of contingent consideration and other financing

 

 

(2.0

)

 

 

(9.3

)

Proceeds from stock plans

 

 

9.7

 

 

 

35.5

 

Proceeds from forward sale of Teva securities

 

 

-

 

 

 

372.3

 

Payments to settle Teva related matters

 

 

-

 

 

 

(234.0

)

Repurchase of ordinary shares

 

 

(829.2

)

 

 

(1,439.6

)

Dividends paid

 

 

(246.1

)

 

 

(319.5

)

Net cash (used in) financing activities

 

 

(1,227.0

)

 

 

(5,207.7

)

Effect of currency exchange rate changes on cash and cash equivalents

 

 

5.9

 

 

 

(5.3

)

Net (decrease) in cash and cash equivalents

 

 

(91.9

)

 

 

(822.4

)

Cash and cash equivalents at beginning of period

 

 

880.4

 

 

 

1,817.2

 

Cash and cash equivalents at end of period

 

$

788.5

 

 

$

994.8

 

Supplemental Disclosures of Cash Flow Information

 

 

 

 

 

 

 

 

Cash paid during the year for:

 

 

 

 

 

 

 

 

Income taxes other, net of refunds

 

$

105.4

 

 

$

35.7

 

Interest

 

$

252.0

 

 

$

344.4

 

Schedule of Non-Cash Investing and Financing Activities:

 

 

 

 

 

 

 

 

Conversion of mandatory convertible preferred shares

 

$

-

 

 

$

4,929.7

 

Dividends accrued

 

$

1.4

 

 

$

1.4

 

 

See accompanying Notes to the Consolidated Financial Statements.

6


 

ALLERGAN PLC

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited; in millions)

 

 

 

 

 

 

 

 

 

 

 

Retained

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Earnings/

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

Ordinary Shares

 

 

Preferred Shares

 

 

Paid-in-

 

 

(Accumulated

 

 

Comprehensive

 

 

Noncontrolling

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Deficit)

 

 

Income / (Loss)

 

 

Interest

 

 

Total

 

BALANCE, December 31, 2017

 

 

330.2

 

 

$

-

 

 

 

5.1

 

 

$

4,929.7

 

 

$

54,013.5

 

 

$

12,957.2

 

 

$

1,920.7

 

 

$

16.0

 

 

$

73,837.1

 

Implementation of new accounting

   pronouncements

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

424.7

 

 

 

(63.0

)

 

 

-

 

 

 

361.7

 

BALANCE, January 1, 2018

 

 

330.2

 

 

$

-

 

 

 

5.1

 

 

$

4,929.7

 

 

$

54,013.5

 

 

$

13,381.9

 

 

$

1,857.7

 

 

$

16.0

 

 

$

74,198.8

 

Comprehensive (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Net (loss) attributable to shareholders

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(286.1

)

 

 

-

 

 

 

-

 

 

 

(286.1

)

   Other comprehensive income, net of tax

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

183.8

 

 

 

-

 

 

 

183.8

 

Share-based compensation

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

72.5

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

72.5

 

Ordinary shares issued under employee stock

   plans

 

 

0.7

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

35.5

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

35.5

 

Dividends declared

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(296.3

)

 

 

-

 

 

 

-

 

 

 

(296.3

)

Conversion of Mandatory Preferred Shares

 

 

17.8

 

 

 

-

 

 

 

(5.1

)

 

 

(4,929.7

)

 

 

4,929.7

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Repurchase of ordinary shares under the

   share repurchase programs

 

 

(9.6

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,540.0

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,540.0

)

Repurchase of ordinary shares

 

 

(0.1

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(24.3

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(24.3

)

Movement in noncontrolling interest

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2.1

 

 

 

2.1

 

BALANCE, March 31, 2018

 

 

339.0

 

 

$

-

 

 

 

-

 

 

$

-

 

 

$

57,486.9

 

 

$

12,799.5

 

 

$

2,041.5

 

 

$

18.1

 

 

$

72,346.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE, December 31, 2018

 

 

332.6

 

 

$

-

 

 

 

-

 

 

$

-

 

 

$

56,510.0

 

 

$

7,258.9

 

 

$

1,345.2

 

 

$

16.9

 

 

$

65,131.0

 

Implementation of new accounting

   pronouncement

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(22.0

)

 

 

-

 

 

 

-

 

 

 

(22.0

)

BALANCE, January 1, 2019

 

 

332.6

 

 

$

-

 

 

 

-

 

 

$

-

 

 

$

56,510.0

 

 

$

7,236.9

 

 

$

1,345.2

 

 

$

16.9

 

 

$

65,109.0

 

Comprehensive (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Net (loss) attributable to shareholders

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(2,408.0

)

 

 

-

 

 

 

-

 

 

 

(2,408.0

)

   Other comprehensive (loss), net of tax

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(128.8

)

 

 

-

 

 

 

(128.8

)

Share-based compensation

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

52.3

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

52.3

 

Ordinary shares issued under employee stock

   plans

 

 

0.7

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

9.7

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

9.7

 

Dividends declared

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(246.1

)

 

 

-

 

 

 

-

 

 

 

(246.1

)

Repurchase of ordinary shares under the

   share repurchase programs

 

 

(5.3

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(799.7

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(799.7

)

Repurchase of ordinary shares

 

 

(0.2

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(29.5

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(29.5

)

Movement in noncontrolling interest

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

0.7

 

 

 

0.7

 

BALANCE, March 31, 2019

 

 

327.8

 

 

$

-

 

 

 

-

 

 

$

-

 

 

$

55,742.8

 

 

$

4,582.8

 

 

$

1,216.4