What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2021-02-12 compared with 2020-02-18 · 33 added, 20 removed, 107 unchanged (33% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information for Common Stock

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information for Common Stock

Our common stock trades on the NYSE under the symbol “IQV.”

20 unchanged sentences

During the year ended December 31, 2020, we repurchased 2,718,447 shares of our common stock for approximately $423.1 million under the Repurchase Program.

These amounts include 1,000,000 shares of our common stock, which we repurchased directly from underwriters in connection with a secondary public offering of shares of our common stock held by certain of our Selling Stockholders for an aggregate purchase price of $140.8 million and 1,000,000 shares of our common stock repurchased from certain Selling Stockholders in a private transaction for an aggregate purchase price of approximately $156.9 million.

For additional information regarding our equity repurchases, see Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” and Note 13 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

These amounts include 1,000,000 shares of our common stock repurchased from certain Selling Stockholders in a private transaction for an aggregate purchase price of approximately $164.3 million.

For additional information regarding our equity repurchases, see Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and

Results of Operations—Liquidity and Capital Resources” and Note 13 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

As of December 31, 2020, we had remaining authorization to repurchase up to $0.9 billion of our common stock under the Repurchase Program.

6 unchanged sentences

The following table summarizes the monthly equity repurchase activity for the three months ended December 31, 2020 and the approximate dollar value of shares that may yet be purchased pursuant to the Repurchase Program.

Total Number of

Shares Purchased

Average Price

Paid per Share

Total Number of

Shares Purchased as

Part of Publicly

Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced

Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the

Plans or Programs

Approximate Dollar

Value of Shares That

May Yet Be Purchased

Under the Plans or Programs

(in millions, except per share data)

7 unchanged sentences

The peer group consists of Cerner Corporation, Charles River Laboratories, Inc., Equifax Inc., ICON plc, IHS Markit Ltd., Laboratory Corporation of America Holdings, Nielsen N.V., PRA Health Sciences, Inc., Syneos Health (formerly INC Research Holdings), Thomson Reuters Corporation and Verisk Analytics, Inc.

The companies in our peer group are publicly traded information services, information technology or contract research companies, and thus share similar business model characteristics to IQVIA, or provide services to similar customers as IQVIA.

The companies in our peer group are publicly traded information services, information technology or clinical research companies, and thus share similar business model characteristics to IQVIA, or provide services to similar customers as IQVIA.

Many of these companies are also used by our compensation committee for purposes of compensation benchmarking.

2 unchanged sentences

They do not necessarily reflect management’s opinion that the S&P 500 and our peer group are an appropriate measure of the relative performance of the stock involved, and they are not intended to forecast or be indicative of possible future performance of our common stock.

12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020

$ 100 $ 111 $ 143 $ 169 $ 225 $ 261

Peer Group $ 100 $ 103 $ 119 $ 114 $ 160 $ 197

$ 100 $ 112 $ 136 $ 130 $ 171 $ 203

Selected Financial Data

We have derived the following consolidated statements of income data for 2019, 2018 and 2017 and consolidated balance sheet data as of December 31, 2019 and 2018 from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

We have derived the following consolidated statements of income data and cash flows for 2020, 2019 and 2018 and consolidated balance sheet data as of December 31, 2020 and 2019 from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

We have derived the following consolidated statements of income data for 2017 and 2016 and consolidated balance sheet data as of December 31, 2018, 2017 and 2016 from our audited consolidated financial statements not included in this Annual Report on Form 10-K.

10 unchanged sentences

(in millions, except per share data) 2020 2019 2018 2017( 4 )

2016( 4 )( 5 )

Statement of Income Data:

$ 11,359 $ 11,088 $ 10,412 $ 9,702 $ 6,815

Costs of revenue, exclusive of depreciation and

7,500 7,300 6,746 6,301 4,748

Selling, general and administrative expenses

1,789 1,734 1,716 1,622 1,016

Depreciation and amortization 1,287 1,202 1,141 1,011 289

4 unchanged sentences

Interest expense, net

410 438 406 339 140

Loss on extinguishment of debt 13 24 2 19 31

Other expense (income), net

(65) (37) 5 13 (11)

Income before income taxes and equity in earnings

1 unchanged sentence

Income tax expense (benefit) (3)

72 116 59 (992) 325

Income before equity in earnings (losses) of

1 unchanged sentence

Equity in earnings (losses) of unconsolidated affiliates

7 (9) 15 10 (4)

Net income 308 227 284 1,296 87

Net income attributable to non-controlling interests

(29) (36) (25) (19) (15)

Net income attributable to IQVIA Holdings Inc.

Year Ended December 31,

279 191 259 1,277 72

As of December 31,

(in millions, except per share data) 2020 2019 2018 2017(4) 2016(4)(5)

Earnings per share attributable to common stockholders:

$ 1.46 $ 0.98 $ 1.27 $ 5.86 $ 0.48

Diluted $ 1.43 $ 0.96 $ 1.24 $ 5.74 $ 0.47

Weighted average common shares outstanding:

Basic 191.3 195.1 203.7 217.8 149.1

195.0 199.6 208.2 222.6 152.0

Year Ended December 31,

14 unchanged sentences

Property and equipment, net 482 458 434 440 406

Total assets 24,564 23,251 22,549 22,857 21,312

Total long-term liabilities 13,726 13,043 12,061 11,457 9,609

Total debt (6)

12,600 11,705 11,056 10,269 7,219

Total stockholders’ equity (deficit) 6,280 6,263 6,954 8,244 8,781

3 unchanged sentences

(2) Merger related costs include the direct and incremental costs associated with the Merger.

Income tax expense in 2019 includes a reversal of $25 million related to a reversal of an FDII benefit in 2018 due to proposed regulations being issued in 2019.

(3) Income Tax expense in 2020 includes a tax benefit of $26 million related to our election for the GILTI high tax exception.

I ncome tax expense in 2019 includes a reversal of $25 million related to a reversal of an FDII benefit in 2018 due to proposed regulations being issued in 2019.

Income tax expense in 2018 includes $(35) million related to finalization of SAB 118 and the impacts of GILTI and FDII.

3 unchanged sentences

(5) Includes the acquisition of IMS Health effective October 3, 2016.

Excludes $60 million, $49 million, $44 million, $19 million, $33 million and $22 million of unamortized discounts and debt issuance costs as of December 31, 2019, 2018, 2017, 2016, and 2015.

(6) Excludes $67 million, $60 million, $49 million, $44 million, $19 million, $33 million and $22 million of unamortized discounts and debt issuance costs as of December 31, 2020, 2019, 2018, 2017, and 2016.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity