Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Abiomed Inc., consolidated balance sheet: assets

US$ in thousands

	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018	Mar 31, 2017
Cash and cash equivalents	132,818)	232,710)	192,341)	121,021)	42,975)	39,040)
Short-term marketable securities	625,789)	350,985)	250,775)	370,677)	319,274)	190,908)
Accounts receivable, net	90,608)	97,179)	84,650)	90,809)	70,010)	54,055)
Inventories, net	93,981)	81,059)	90,088)	80,942)	50,204)	34,931)
Prepaid expenses and other current assets	33,277)	26,032)	18,009)	13,748)	11,808)	8,024)
Current assets	976,473)	787,965)	635,863)	677,197)	494,271)	326,958)
Long-term marketable securities	220,089)	264,085)	207,795)	21,718)	37,502)	47,143)
Property and equipment, net	202,490)	197,129)	164,931)	145,005)	117,167)	87,777)
Goodwill	76,786)	78,568)	31,969)	32,601)	35,808)	31,045)
Other intangibles, net	39,518)	42,150)	14,913)	15,208)	16,705)	14,482)
Deferred tax assets	10,552)	11,380)	43,336)	77,502)	70,746)	34,723)
Investment in Shockwave Medical	61,535)	38,655)	55,704)	56,195)	—)	—)
Other investments	70,314)	62,995)	38,741)	24,584)	—)	—)
Operating lease right-of-use assets	9,518)	6,109)	11,760)	—)	—)	—)
Cross-currency swap	—)	—)	3,786)	—)	—)	—)
Other intangible assets and other assets	6,118)	5,323)	7,664)	4,336)	14,176)	8,286)
Other assets	147,485)	113,082)	117,655)	85,115)	14,176)	8,286)
Long-term assets	696,920)	706,394)	580,599)	377,149)	292,104)	223,456)
Total assets	1,673,393)	1,494,359)	1,216,462)	1,054,346)	786,375)	550,414)

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

The analysis of the annual financial data reveals several notable trends in various asset categories over the six-year period.

Liquidity and Short-Term Assets: Cash and cash equivalents showed a significant increase from 2017 to 2021, rising from $39,040 thousand to $232,710 thousand, but declined notably in 2022 to $132,818 thousand. Meanwhile, short-term marketable securities exhibited strong growth overall, nearly tripling from $190,908 thousand in 2017 to $625,789 thousand in 2022, despite some volatility in 2020.
Receivables and Inventory: Accounts receivable, net, increased steadily from $54,055 thousand in 2017 to $97,179 thousand in 2021, followed by a slight decrease to $90,608 thousand in 2022. Inventories, net, displayed consistent growth from $34,931 thousand in 2017 to $93,981 thousand in 2022, with a minor dip noted in 2021.
Other Current Assets: Prepaid expenses and other current assets rose progressively from $8,024 thousand in 2017 to $33,277 thousand in 2022, indicating increasing investments in short-term assets.
Total Current Assets: Total current assets saw substantial growth from $326,958 thousand in 2017 to $976,473 thousand in 2022. The growth rate slowed in 2020, but the overall trend is upward, reflecting stronger liquidity positions and asset accumulation.
Long-Term Marketable Securities and Investments: Long-term marketable securities declined initially from $47,143 thousand in 2017 to $21,718 thousand in 2019, then surged to a peak of $264,085 thousand in 2021 before falling to $220,089 thousand in 2022. The investment in Shockwave Medical, not reported before 2019, showed fluctuations but generally increased to $61,535 thousand by 2022. Other investments also showed continuous growth from $24,584 thousand in 2019 to $70,314 thousand in 2022.
Property, Equipment, and Intangible Assets: Property and equipment, net, displayed steady growth from $87,777 thousand in 2017 to $202,490 thousand in 2022, indicating ongoing capital expenditure. Goodwill increased sharply to $78,568 thousand in 2021, more than doubling from prior years, before a slight decrease to $76,786 thousand in 2022. Other intangible assets, net, followed a similar pattern with a marked increase to $42,150 thousand in 2021 and a slight decline to $39,518 thousand in 2022.
Deferred Tax Assets: Deferred tax assets rose markedly from $34,723 thousand in 2017 to $77,502 thousand in 2019, but then declined sharply to $10,552 thousand by 2022. This decline may indicate changes in tax positions or asset realizability concerns.
Other Assets and Lease Assets: Other assets increased significantly overall, with a jump from $8,286 thousand in 2017 to $147,485 thousand in 2022, which includes the introduction and growth of operating lease right-of-use assets starting in 2020. The operating lease assets peaked in 2020 and decreased slightly afterward. Additionally, cross-currency swaps appeared in 2020 but were not reported in subsequent years.
Total Long-Term Assets: Total long-term assets experienced a notable increase from $223,456 thousand in 2017 to $696,920 thousand in 2022, with the most significant rise occurring between 2019 and 2021, reflecting expansion in property, investments, and intangibles.
Total Assets: Total assets showed continuous growth over the analyzed period, from $550,414 thousand in 2017 to $1,673,393 thousand in 2022. The increase was most pronounced between 2018 and 2021, aligning with the growth trends in both current and long-term assets.

Overall, the financial data indicate progressive asset growth with substantial increases in marketable securities, property and equipment, and intangible assets. Some volatility is present in cash balances and deferred tax assets, while investments and other long-term assets suggest strategic acquisitions or expansions. The upward trajectory in total assets reflects a broad-based strengthening of the asset base over the period analyzed.

Assets: Selected Items

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Current Assets: Selected Items

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Abiomed Inc. (NASDAQ:ABMD)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items